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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Aberforth Smaller Companies Trust Plc | ASL | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| -6.00 | -0.43% | 1,390.00 | 10:23:28 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 1,400.00 | 1,390.00 | 1,400.00 | 1,396.00 |
| Industry Sector |
|---|
| EQUITY INVESTMENT INSTRUMENTS |
| Top Posts |
|---|
Posted at 12/1/2024 15:33 by davebowler Tip Watch #2: Keep faith in my 2023 investment trust tips - they WILL come goodSo says This is Money’s Jeff Prestridge. The commentator opens his above-titled article by highlighting how in 2023 “…equit As for Prestridge’s 2023 tips: “This time last year, I assembled an investment trust portfolio that I thought could deliver spectacular returns. Not necessarily straightaway, but certainly over three to five years. The portfolio comprised ten trusts…invest abrdn New India; Augmentum Fintech; Herald; Seraphim Space; Aberforth Smaller Cos.; Brunner; Invesco Asia; Schroder UK Mid Cap; Templeton Emerging Markets; and VinaCapital Vietnam Opportunity The article continues: “So what's happened to these trusts over the year? Have they delivered the stellar returns I thought they were capable of? The answer is no. I know this because I invested £100 in each of these ten trusts at the start of the year via my stocks and shares Isa. Looking at my Isa yesterday, the collective value of these holdings was £845.32. Add in the dividend income I have received of £15.09, and my £1,000 investment is now worth £860.41. In percentage terms, that is a significant fall of 14 per cent.” Despite the disappointing performance, Prestridge is sticking to his guns: “…I still believe that this portfolio will prove itself in time. Tellingly…nin |
Posted at 17/11/2023 07:25 by davebowler IC...This trust, which has assets worth over £1bn, invests in UK smaller companies and was trading at a 12.7 per cent discount to NAV as of 31 October. But my feeling is that UK equities trusts in general, especially small and mid-cap focused ones, look quite attractive. The valuations of Aberforth Smaller Companies’ holdings in particular look reasonable, as well as the trust being on a discount to NAV.The underlying portfolio has a price/earnings ratio (PE) of about 7 times [in late October] and from that valuation the prospects for absolute gains are good. About half of its stocks have net cash on the balance sheet so they are not highly leveraged ‘zombie’ companies. Even if earnings don’t come through, the portfolio is still very inexpensively valued. And its managers have noticed a pick up in mergers and acquisitions – overseas investors buying UK smaller companies. I hope that the Aberforth trust will outperform the FTSE All-Share index over the next three years, but in any case buying at about £11.44 [the price at the time of writing] will make you money eventually – if you are patient. The trust is more likely to go down than up in the next three months, and its managers take a value oriented approach so returns will either be at the top or bottom of its sector. Over the past decade this investment style has not done well but is a bit of a tailwind at the moment. And as interest rates peak out and inflation comes down, purchasing a well run portfolio should pay off even if we go into recession. |
Posted at 23/4/2021 05:42 by dodgedollar Hi, I am new here. I am a seasoned private investor 20 years in the making and have held these shares for a decade, only selling up once to buy help with a home move. Stable mates are one Tech Trust and one world equities trust and thats it! This trust has, I believe, good management and have reliably made me money in that time.I sold my business in late 2019 and dripped sizeable amounts for six months testing Pound cost averaging to death ( covid) Like many stocks this did take an unnerving dive, and it seemed some of their holdings did look questionable and I did question my sanity on occasion but, the dividend policy continued through having plenty on cash reserves and I through gritted teeth continued with faith. One thing I didn’t realise was how UK stock were out of favour but, alas, this situation is reversing to our benefit! |
Posted at 31/3/2009 10:06 by washbrook Article in the investors Chronicle 27.3.09 page 48 -Algy Hall:--------------------- Up until the start of this year, one of the abiding rules of the bear market was "big is beautiful". Indeed, in every quarter since the market peaked in mid-2007 the blue-chip FTSE 100 index has outperformed both the FTSE Small Cap and FTSE Fledgling indices, and during most quarters the outperformance has been extreme. But this trend has gone into reverse so far in 2009 - and that offers some grounds for hope that we may be approaching the bottom.Heading for the exit When markets fall there are good reasons for the flight from small caps. After all, their size makes them more vulnerable to the type of trading difficulties that all businesses face during a recession, such as cancelled orders and unhelpful bank managers. Small caps also tend to have a domestic focus which makes them very sensitive to problems in the UK economy, and they have not benefited from recent currency movements in the same way as the big-dollar-earning blue chips. Small-cap shares tend to be very illiquid, which makes prices more sensitive to any distressed selling. And they are riskier, and so are sold off whenever risk aversion rises. That's why, since the market began to head south, the FTSE 100's 42 per cent loss has been considerably more palatable than the FTSE Small Cap's 58 per cent fall, the FTSE Fledgling's 55 per cent plunge and the FTSE AIM All Share's 67 per cent decline. All change However, for a first time in this bear market, it looks like smaller companies are set to outperform blue chips over a quarter-year period. With the first three months of 2009 almost complete, the FTSE 100 has dropped 11.9 per cent while the FTSE Small Cap is down 7.1 per cent and the FTSE Fledgling is actually up 11.9 per cent. Long-suffering Aim is also in positive territory, having clawed a 1.4 per cent gain. The positive momentum in smaller company shares could prove to be an important distinguishing feature in the market's latest rally compared with the many other bear market bounces we've experienced. That's because small caps are usually at the forefront of genuine market recoveries. The habit of small caps to outperform during a recovery is partly due their sensitivity to changes in economic conditions, which means they outperform in anticipation of better times to come. The other key factor, and perhaps the most relevant at the moment, is that small caps tend to be heavily oversold in the rush for the exit during a bear market, which creates some excellent value opportunities once the dust settles. So the recent fillip could be a sign that even if the recent rally proves to be just another false dawn, the market is at long last finding valuations with which it is comfortable. A bright future Fund manager Gervais Williams, who runs the Gartmore Growth Opportunties and Gartmore Fledgling investment trusts, believes that there could be something even more profound at work than a simple recognition that small caps are as he puts it "embarrassingly cheap". Mr William says, "I think there will be a big trend away from large caps to small caps over the next five years or so... driven by dividend distribution." Mr Williams argues that large caps are over geared after many years of paying excessive dividends and will have to make unprecedented cuts he points to the futures market which suggests cuts in the region of 50 to 60 per cent. Meanwhile, profitable small caps with decent balance sheets are in a position to reduce their focus on reinvesting profits for growth and to start paying out more in dividends. This would make them one of the only options for those seeking large and growing yields. Such a shift in sentiment towards small caps would be radical given the long-term movement in the other direction. Over the last 20 years the FTSE Small Cap index has actually fallen 1.2 per cent compared with an 88.1 per cent rise from the FTSE 100. But whether or not such a seismic shift occurs, the recent outperformance by small caps is a reason for encouragement. -------------------- If you look at one of the best Investment Trust look at the chart for 2009. -------------------- |
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