Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

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We store and use information you provide as follows:

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We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

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We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


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If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

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Henderson Smllr Cos (HSL)

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Monday 19 October, 2009

Henderson Smllr Cos

Interim Management Statement

RNS Number : 0380B
Henderson Smaller Cos Inv Tst PLC
19 October 2009




19 October 2009    


First Interim Management Statement for the year beginning 1 June 2009

The objective of The Henderson Smaller Companies Investment Trust plc is to maximise shareholders' total returns by investing mainly in smaller companies that are quoted in the United Kingdom. The benchmark is the Hoare Govett Smaller Companies Index (excluding investment companies). The Manager is Henderson Global Investors Limited. Information about the Company can be found on the Manager's website or

Review of the first six month period, beginning 1 June 2009

Between 31 May 2009 and 30 September 2009 the net asset value per share (including current financial year revenue items and adjusting for the dividends, totalling 5.60p per share, that were paid on 9 October 2009) rose by 31.9%, while the Company's benchmark increased by 24.4% on a total return basis. The Company has maintained a modest level of gearing. As at 30 September 2009 the Company had total borrowings of £20.0 million, representing gearing of 10%.

The share price at 30 September 2009 was 199.50p, giving the Company a market capitalisation of £149.7 million.  Since 31 May 2009 the Company has bought back for cancellation a total of 2,310,000 of its ordinary shares.  The number of ordinary shares in issue is currently 75,060,296.  

There are no other material events or transactions to report.

Net Asset Value 

As at close of business on 30 September 2009, the unaudited net asset value per share, calculated in accordance with the AIC (Association of Investment Companies) formulaincluding current financial year revenue items, was 261.0p.  The unaudited net asset value per share, including current financial year revenue items but calculated by valuing the Company's debenture stock at market value, was 254.1p.  


First Interim Management Statement for the year beginning 1 June 2009


The Company's performance, on a total return basis, in the periods of 3 months and three years ended 30 September 2009 was as follows:

3 months to 30.09.09

3 years to 30.09.09

Net asset value per share



Share price






*The benchmark is the Hoare Govett Smaller Companies Index (excluding investment companies).

Largest Investments

The top twenty holdings as at 30 September 2009 were:


WSP Group

W S Atkins


Intermediate Capital





Premier Oil

Domino Printing

Paragon Group

Croda International



Balfour Beatty



VT Group


These investments represent 41.4% of the total portfolio valuation at 30 September 2009

of £216.6 million.



First Interim Management Statement for the year beginning 1 June 2009

For further information, please contact:

Neil Hermon

Fund Manager

The Henderson Smaller Companies Investment Trust plc 

Telephone: 020 7818 4351    

James de Sausmarez

Head of Investment Trusts    

Henderson Global Investors    

Telephone: 020 7818 3349

This information is provided by RNS
The company news service from the London Stock Exchange

a d v e r t i s e m e n t