Aberforth Smaller Co Interim Management Statement
October 03 2014 - 3:00AM
UK Regulatory
TIDMASL
Aberforth Smaller Companies Trust plc
Interim Management Statement for the 3 months ended 30 September 2014
Investment Objective
The investment objective of Aberforth Smaller Companies Trust plc (ASCoT) is to
achieve a net asset value total return (with dividends reinvested) greater than
on the Numis Smaller Companies Index (Excluding Investment Companies) (NSCI
(XIC)) over the long term.
Aberforth Partners LLP are contracted as the Investment Managers and
Secretaries to the Company.
Features
* During the 3 months to 30 September 2014, the Company's net asset value
fell by 0.4%. By comparison, the Company's benchmark, the NSCI (XIC), fell
by 2.9%. Over the 9 months to 30 September 2014, the Company's net asset
value rose by 0.7% though the benchmark fell by 3.5%.All figures are total
returns.
* 20,000 shares were purchased for cancellation during the quarter for a
total consideration of GBP214,000.
* The Board declared an interim dividend for the year ending 31 December 2014
of 7.75p, an increase of 5.4%. This dividend was paid on 28 August 2014.
Financial Position As at As at As at
30 September 2014 30 June 2014 31 December 2013
Fixed Assets: Investments GBP1,156m GBP1,166m GBP1,168m
at bid price
Net Liabilities GBP(33m) GBP(32m) GBP(30m)
_______ _______ _______
Total Shareholders' Funds GBP1,123m GBP1,134m GBP1,138m
Net Asset Value 1177.35p 1189.50p 1,193.22p
Share Price 1090.00p 1046.00p 1,095.00p
Discount 7.4% 12.1% 8.2%
Shares in Issue 95,344,792 95,364,792 95,382,792
Market Capitalisation GBP1039m GBP998m GBP1,044m
Gearing 3.0% 2.8% 2.6%
General Information
Ongoing charges (2013 -p.a.) 0.79%
Launch Date 10 December 1990
Further Information
Further information regarding the Company, including any share buybacks, the
most recently published net asset value and the monthly factsheet can be found
on the following website: www.aberforth.co.uk
Contact
David Holland (Tel: 0131 220 0733)
Aberforth Partners LLP, Secretaries,
3 October 2014
Note
This information has been provided in satisfaction of obligations under DTR 4.3
END
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