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Henderson Smaller Cos beats benchmark

By BFN News | 07:49 AM | Thursday 11 August, 2016

Henderson Smaller Companies Investment Trust's net asset value fell by 1.1% in the year to the end of May on a total return basis. This compares with a 1.6% fallin its benchmark, Numis Smaller Companies Index (excluding investment companies). The company's share price was down by 8.1%. Chairman Jamie Cayzer-Colvin said it had been a difficult year for equity investment management and the company had not been immune. Cayzer-Colvin added: "After the most dramatic couple of months in British politics, the implications of the Brexit vote are yet to play out fully in markets. Uncertainty is the only certainty and it is clear that volatility will continue until investors feel confident that the way forward for the UK is resolved. "We may also find that interest rates remain at the current very low levels for longer and this, together with the weakness in the exchange rate, is likely to affect valuations and investor sentiment over the coming months. Any move back to more normal conditions may therefore be sometime away. However, as always in markets, there will be some companies that do better than others. Exporters can take advantage of the lower value of the pound and companies looking to invest can take advantage of lower rates. "Our view remains that this is the time to stick to what we do best, and we remain confident that skilled active investing founded on the basic fundamentals of investing in quality growth at the right price will win through in these uncertain times." Story provided by

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