Company summary
BlackRock Smaller Companies Trust invests mainly in smaller UK-listed businesses, including selected AIM companies. Its objective is long-term capital growth from companies that can grow faster than the wider economy.
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BRSC
BlackRock Smaller Companies Trust
Investment Trusts
- Index
- FTSE 250
- ISIN
- Not specified
- Book status
- 2026 edition — current
Key activities
Active investment in UK small and mid-sized companies across industrial, technology, consumer, financial and healthcare sectors, supported by company research and selective portfolio turnover.
Key markets
The UK smaller-company equity market, although many portfolio businesses generate significant overseas revenue. Domestic economic conditions and UK investor sentiment remain important.
Key drivers
UK small-cap valuations, stock selection, earnings growth, takeover activity, interest rates, domestic economic recovery, access to capital and narrowing of the trust's discount to NAV.
Key risks
Higher volatility and lower liquidity in smaller companies, stock-specific setbacks, UK economic weakness, gearing, concentration and persistent discounts to net asset value.
Recent Developments
1 July 2026: a five-for-one share subdivision took effect. On 21 July the Board declared the first dividend under its new quarterly policy, designed to make distributions more regular while retaining a growth-oriented investment approach.
Dividend notes
The trust moved to quarterly dividends. A 5.70p balancing dividend went ex-dividend on 9 April 2026 and was paid on 8 May. The first new quarterly dividend of 2.225p went ex-dividend on 30 July and is payable on 3 September.
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