Investment Trusts
Aberforth Smaller Companies Trust invests in smaller UK-listed companies using a disciplined value approach. It seeks long-term returns by buying businesses considered cheap relative to their prospects, giving shareholders broad exposure to the less-followed end of the UK equity market.
Builds a diversified portfolio of UK smaller companies, excluding investment trusts, with active stock selection focused on valuation, balance-sheet strength, cash generation and the potential for operational or market rerating.
The UK smaller-company market, with portfolio businesses exposed to a wide range of domestic and international industries. Performance often has a stronger UK economic sensitivity than large-cap indices.
UK small-cap earnings, economic confidence, interest rates, merger and acquisition activity, value-stock rerating, stock selection, portfolio dividends, gearing and changes in the trust's discount to net asset value.
Small-company liquidity and volatility, UK economic weakness, value-style underperformance, company-specific setbacks, gearing, market downturns and a widening discount to net asset value.
28 July 2026: first-half NAV total return was 5.5% versus 1.8% for the benchmark, while the share-price return was 6.5%. The trust also repurchased about 2.33m shares for £37.1m and raised its interim dividend to 15.3p.
Normally pays half-yearly in August and March, with specials possible from revenue reserves. The 32.5p 2025 final and 12.0p special both went ex-dividend on 5 February 2026. The 2026 interim of 15.3p went ex-dividend on 6 August and is due on 27 August.
The complete 350 Trade Book — 350 leading UK-listed companies, presented in one consistent working reference.