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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Invesco Perpetual Uk Smaller Companies Investment Trust Plc | IPU | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| -3.50 | -0.92% | 377.50 | 16:35:03 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 382.00 | 377.00 | 382.00 | 377.50 | 381.00 |
| Industry Sector |
|---|
| EQUITY INVESTMENT INSTRUMENTS |
| Announcement Date | Type | Currency | Dividend Amount | Ex Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| 08/10/2024 | Interim | GBP | 0.0385 | 07/11/2024 | 08/11/2024 | 06/12/2024 |
| 19/07/2024 | Special | GBP | 4.8485 | 16/09/2024 | 17/09/2024 | 08/10/2024 |
| 18/07/2024 | Interim | GBP | 0.0385 | 01/08/2024 | 02/08/2024 | 30/08/2024 |
| 01/05/2024 | Final | GBP | 0.0541 | 09/05/2024 | 10/05/2024 | 11/06/2024 |
| 02/02/2024 | Interim | GBP | 0.0385 | 15/02/2024 | 16/02/2024 | 12/03/2024 |
| 11/10/2023 | Interim | GBP | 0.0385 | 09/11/2023 | 10/11/2023 | 08/12/2023 |
| 20/07/2023 | Interim | GBP | 0.0385 | 03/08/2023 | 04/08/2023 | 01/09/2023 |
| 19/04/2023 | Final | GBP | 0.0679 | 11/05/2023 | 12/05/2023 | 13/06/2023 |
| 02/02/2023 | Interim | GBP | 0.0375 | 16/02/2023 | 17/02/2023 | 14/03/2023 |
| 07/10/2022 | Interim | GBP | 0.0375 | 10/11/2022 | 11/11/2022 | 09/12/2022 |
| 19/07/2022 | Interim | GBP | 0.0375 | 04/08/2022 | 05/08/2022 | 01/09/2022 |
| 21/04/2022 | Final | GBP | 0.1155 | 12/05/2022 | 13/05/2022 | 10/06/2022 |
| 10/02/2022 | Interim | GBP | 0.0375 | 17/02/2022 | 18/02/2022 | 15/03/2022 |
| 12/10/2021 | Interim | GBP | 0.0375 | 11/11/2021 | 12/11/2021 | 10/12/2021 |
| 28/07/2021 | Interim | GBP | 0.0375 | 05/08/2021 | 06/08/2021 | 02/09/2021 |
| 23/04/2021 | Final | GBP | 0.0807 | 13/05/2021 | 14/05/2021 | 11/06/2021 |
| 10/02/2021 | Interim | GBP | 0.0375 | 18/02/2021 | 19/02/2021 | 16/03/2021 |
| 14/10/2020 | Interim | GBP | 0.0375 | 12/11/2020 | 13/11/2020 | 11/12/2020 |
| 23/07/2020 | Interim | GBP | 0.0375 | 06/08/2020 | 07/08/2020 | 03/09/2020 |
| 17/04/2020 | Final | GBP | 0.0735 | 14/05/2020 | 15/05/2020 | 12/06/2020 |
| 10/02/2020 | Interim | GBP | 0.0375 | 20/02/2020 | 21/02/2020 | 20/03/2020 |
| Top Posts |
|---|
Posted at 20/12/2024 19:02 by 2wild Funnily enough I received 100% cash allocation from the ATS and ARR merger. My account was credited after the market closed last Friday. Used some of the cash to buy IPU yesterday. Having used IPU Tender proceeds to buyAATS. |
Posted at 20/12/2024 16:46 by brwo349 citywire article19 Dec, 2024 Artemis wins Invesco’s underperforming UK small-cap trust The trust’s shares soften 1% as the board announces Artemis’ surprise appointment, persuaded by lower fees, a strong track record and the promise of significant skin in the game. By Jeremy Gordon, Jamie Colvin Artemis has been appointed to take over Invesco’s underperforming Perpetual UK Smaller Companies (IPU) trust in a coup for the boutique asset manager. In an unexpected announcement, the £139m trust’s chair Bridget Guerin said the board had appointed Artemis’ Mark Niznik and Will Tamworth to take over in early 2025, persuaded by lower fees, their open-ended fund’s strong track record and their promise to invest their own money into the trust. IPU’s shares softened 1% as the board announced that as well as waiving fees for the first nine months, Artemis will charge a management fee of 0.65% of net assets below £50m and 0.55% above, slightly below the current Invesco fee of 0.75% of gross assets, which includes borrowing. The win marks Artemis’ return to the investment trust sector, having seen global equity fund Mid Wynd (MWY) move to Lazard last year following Simon Edelsten’s retirement and, more recently, Artemis Alpha agree a merger with Aurora to become Aurora UK Alpha (ARR). ‘Having reviewed a variety of options, Artemis stood out as not only a top performer but also very enthusiastic about taking over the management of IPU,’ Guerin said. ‘To reinforce their commitment to managing the company, both fund managers and other staff members within Artemis have agreed to invest meaningful amounts of money into the fund. The board and managers are excited about the prospects for UK small companies, which are now trading at historically cheap levels.’ This morning’s announcement is not a complete surprise. Under Invesco fund managers Jonathan Brown and Robin West, the 4.4%-yielder’s performance had slipped, with five-year shareholder returns the worst in the trust’s 11-strong UK small-cap sector, Deutsche Numis data shows. The discount has hovered around 13% over the past 12 months and closed at 16% on Wednesday. Over the five years to yesterday, shareholders have lost 22%, even with dividends reinvested, versus an 8.6% gain for the Deutsche Numis Smaller Companies plus AIM (excluding Investment Companies) benchmark. By contrast, Niznik and Tamworth’s £453m Artemis UK Smaller Companies fund returned 18%, according to Morningstar. Despite this, there has been no obvious sign of shareholder discontent, with 93% of investors giving the thumbs-up at a continuation vote in June. Nor did the board indicate it was reconsidering Invesco as manager in recent months through a formal strategic review. Yet the change marks a significant development for the trust at a time when the sector is seeing significant corporate activity, Peel Hunt’s Anthony Leatham said. ‘The adjusted fee terms and fee break are likely to be well received but we are not yet able to determine what the key differences are likely to be between the trust and open-ended fund portfolios going forward,’ he said. The Artemis managers will be able to use the closed-end structure in several ways, including through gearing and investing in illiquid companies, to differentiate the trust from their open-ended fund. |
Posted at 19/12/2024 07:49 by brwo349 Is this the catalyst for a change in our fortunes??Invesco Perpetual UK Smaller Companies Trust plc Change of Investment Management Arrangements Invesco Perpetual UK Smaller Companies Trust plc to appoint Artemis Fund Managers Limited as investment manager No change to investment objective, investment policy or dividend policy Shareholders to benefit from a reduction in management fees as well as an initial nine month fee waiver Company to be renamed in due course to reflect the change in management and to leverage Artemis’ strong brand in UK equities Introduction The Board of Invesco Perpetual UK Smaller Companies Trust plc (the “Company” The Company's core investment objective and policy, being to achieve long-term total return for shareholders primarily by investment in a broad cross-section of small to medium sized UK quoted companies, will not change. The Company's portfolio will be managed by Mark Niznik and Will Tamworth. They have worked as co-managers at Artemis since 2015 and each brings considerable prior expertise in the UK small-cap equity space. The fund managers will seek to capture the small cap performance premium (3% annualised since 1955), by employing a research-driven, stock picking process to select portfolio companies from the ~1,000 companies that make up the smallest 10% of the UK market by market capitalisation. The fund managers look for good businesses, with attractive financials and seek to acquire them at reasonable valuations. The portfolio will typically contain between 50 and 70 stocks, constructed without reference to the benchmark, though remaining economically diversified. The Board believes that the change in investment manager will provide the following benefits to shareholders Top quartile track record: The Artemis team have a strong investment track record. The open-ended Artemis UK Smaller Companies Fund is ranked top quartile over 3, 5 and 10 years relative to the IA UK Smaller Companies peer group (to 29 November 2024). Since taking over management of the Artemis UK Smaller Companies Fund in 2011 the team has returned 259% compared to 185%% for the Deutsche Numis Smaller Companies (ex IT) Index and 181% for the IA UK Smaller Companies sector Reduction in fees: Artemis will charge a management fee of 0.65% of net assets up to £50 million and 0.55% thereafter (compared to the fee of 0.75% of gross assets currently paid by the Company) Waiver of management fees: Artemis will waive the first nine months of management fees post appointment Alignment: The fund managers, alongside other individuals at Artemis, have committed to invest a significant amount into the Company Marketing: Artemis’s distribution capability will assist in finding new demand for the Company’s shares Information on the Artemis group Artemis is an independent and owner-managed fund manager, offering a range of funds which invest in the UK, Europe, the US and around the world. As a dedicated, active investment house, it specialises in investment management for both retail and institutional investors. The firm was launched in 1997. The main operating entity, Artemis Investment Management LLP, is a Limited Liability Partnership and currently has 25 partners, who are fund managers and other key individuals at the firm. www.artemisfunds.com Details on the appointment of Artemis Artemis will receive an annual management fee of 0.65% of the net assets of the Company up to £50 million and 0.55% thereafter. As a contribution to the costs of the change of investment manager, Artemis will waive the management fee payable to it for a period of nine months from its appointment as investment manager, as well as making a significant contribution to the Company’s marketing budget. The investment management agreement shall be terminable by either party serving six months' notice. Expected timing The Company has provided notice to terminate the appointment of Invesco Fund Managers Limited as the Company's AIFM, company secretary and administrator. Subject to regulatory approval and finalising transitional arrangements, Artemis’s appointment as investment manager and AIFM is expected to become effective in Q1 2025. A further announcement will be made in due course. Bridget Guerin, Chairman, commented: ““Having reviewed a variety of options, Artemis stood out as not only top performers but also very enthusiastic about taking over the management of IPU. To reinforce their commitment to managing the Company, both fund managers and other staff members within Artemis have agreed to invest meaningful amounts of money into the fund. The Board and Managers are excited about the prospects for UK small companies which are now trading at historically cheap levels.”” Mark Murray, Senior Partner, Artemis, commented: “We are delighted that the Board has appointed Artemis to manage the Company. Mark and Will have an outstanding investment proposition. Combined with Artemis’ strong brand and marketing expertise, we believe we have a compelling proposition to deliver success for the Company and its shareholders.” |
Posted at 06/12/2024 21:40 by bitgold The chart for AUSC and IPU this year show massive differences in performance. IPU is almost back to September 2020 level. |
Posted at 08/10/2024 16:23 by brwo349 Invesco Perpetual UK Smaller Co's Investment Trust Plc - Dividend DeclarationPR Newswire LONDON, United Kingdom, October 08 LEI: 549300K1D1P23R8U4U50 Invesco Perpetual UK Smaller Companies Investment Trust plc Headline: Second Interim Dividend The Directors of Invesco Perpetual UK Smaller Companies Investment Trust plc are pleased to declare a Second Interim Dividend for the year ending 31 January 2025 of 3.85p per share (2023:3.85p), payable 6 December 2024 to ordinary shareholders on the register on 8 November 2024. The shares will be quoted ex-dividend on 7 November 2024. Shareholders are reminded that the Company's dividend policy is to pay out all income earned within the portfolio and to enhance it annually through the use of realised capital profits with a target dividend yield of 4% of the year end share price. Invesco Asset Management Limited Corporate Company Secretary 8 October 2024 |
Posted at 19/9/2024 11:13 by brwo349 Is this what people were expecting. I need to sit down and work out where 7% excess on the basic entitlement comes from. I thought it was to be more than this.Invesco Perpetual UK Smaller Companies Investment Trust PLC Result of Special Dividend Offer Further to its announcement of 20 August 2024, the Board of Invesco Perpetual UK Smaller Companies Investment Trust PLC (the "Company") announces that the Special Dividend will be £4.8485 per Share, which represents 97.5 per cent. of the Net Asset Value per Share (rounded down to four decimal places), calculated in accordance with the terms of the Special Dividend Offer described in the circular published by the Company on 19 July 2024 (the "Circular"). The Company received valid elections to receive the Special Dividend on 12,450,915 Shares. This represents 36.8 per cent. of the Company's issued ordinary share capital (excluding treasury shares) as at the Special Dividend Record Date. As this percentage exceeds the aggregate 10 per cent. cap under the Special Dividend Offer, the Company has scaled back elections in accordance with the process described in the Circular. Following scaling back: Each Shareholder who validly elected to receive the Special Dividend on a number of Shares that is equal to or less than their Basic Entitlement (being such number of Shares, rounded down to the nearest whole number, as represents 10 per cent. of the Shares they held as at the Special Dividend Record Date) will have their election satisfied in full. Each Shareholder who validly elected to receive the Special Dividend on a number of Shares greater than their Basic Entitlement will receive the Special Dividend on such number of Shares as is equal to their Basic Entitlement plus approximately 7.0 per cent. of their Individual Excess Election (rounded down to the nearest whole number of Shares). In aggregate, the Company will pay the Special Dividend on 3,382,648 Shares[1]. Accordingly, the total amount to be paid by way of Special Dividend will be £16.4 million. As described in the Circular, the Shares on which the Special Dividend is paid will be cancelled for no payment pursuant to the Reduction of Capital. Assuming no Shares are issued or repurchased by the Company between now and the Reduction of Capital Effective Date, the total number of Shares remaining in issue after the payment of the Special Dividend and Reduction of Capital will be 30,444,281 Shares (excluding treasury shares). The Company currently holds 19,382,155 Shares in treasury. The implementation of the Special Dividend Offer remains conditional on the Court's approval of the Reduction of Capital, the hearing for which is scheduled for 24 September 2024. An announcement of the results of the Court hearing will be made once known. Capitalised terms used in this announcement shall have the meaning given to them in the Circular. |
Posted at 20/8/2024 09:00 by 2wild IPU announces that as at 1.00 p.m. on 19 August 2024, being the latest time for receipt of forms of election under the terms of the Special Dividend Offer described in the circular published by the Company on 19 July 2024 (the "Circular"), the Company had received valid elections to receive the Special Dividend on 12,450,915 Shares, representing 36.8 per cent. of the Company's issued ordinary share capital.As more than 3,382,692 Shares (being equal to 10 per cent. of the Company's issued share capital as at the date of the Circular (excluding treasury shares, rounded down to the nearest whole number) have elected to receive the Special Dividend, a scaling back exercise will be undertaken in accordance with the process described in the Circular. |
Posted at 23/7/2024 19:38 by brwo349 20th Julyhxxps://www.trustint Our small-cap event was back by popular demand this week. Here, we recap the thoughts of the three managers presenting, covering UK, US and Asian markets. Invesco Perpetual UK Smaller Companies Robin West, manager of Invesco Perpetual UK Smaller Companies (IPU), kicked the presentations off by giving a positive view on the domestic outlook for smaller companies. The UK has been an orphan asset class since the Brexit vote, Robin said, and the myriad Prime Ministers and chancellors (four and six respectively since the start of 2020) we’ve had in recent years has meant that both domestic and overseas investors have avoided the UK. That seems to be changing, though. The current Labour government is painting itself as a centrist party with a growth agenda, making the UK look like a beacon of relative stability on the global stage, Robin added. Global fund managers are more positive on the UK, interest rate cuts to come will demonstrate the attractiveness of equities over cash, and the marked pick-up in takeover activity seen this year is proof that UK plc is once again attractive. To give you a sense of the potential in UK smaller companies right now, when the FTSE Small Cap Index has traded on a similar trailing price-to-earnings ratio to today (11.4 times), the return has been 22.1% over the next 12 months and 42.3% over the next 24 months. IPU briefly traded on a premium to net asset value at the end of 2019, so there’s clear scope for its current 15% discount to narrow should sentiment continue to improve. One of IPU’s points of differentiation is its enhanced dividend policy, which was established in 2015. The policy is to pay four quarterly dividends that pay a yield equal to 4%, based on the share price at the end of the prior financial year (31st January). This amount comes from a blend of the underlying income generated by the portfolio and a contribution from capital. |
Posted at 19/7/2024 07:08 by brwo349 Invesco Perpetual UK Smaller Companies Investment Trust PLCReturn of Capital by way of a proposed elective Special Dividend Subject to all conditions of the Special Dividend Offer being satisfied (or waived), Shareholders (other than Restricted Shareholders) will be entitled to receive the Special Dividend on a number of Shares up to their Basic Entitlement. The Basic Entitlement is such number of Shares, rounded down to the nearest whole number, as represents 10 per cent. of the Shares they held as at the Special Dividend Record Date. Shareholders may elect to receive the Special Dividend on a number of Shares in excess of their Basic Entitlement, but any such excess elections will be satisfied pro rata in proportion to the amount elected in excess of the Basic Entitlement (rounded down to the nearest whole number of Shares), to the extent that other Shareholders elect to receive the Special Dividend on a number of Shares which is less than their aggregate Basic Entitlement, or do not elect to receive the Special Dividend at all. Under the Special Dividend Offer, all Shareholders will have the choice either to: do nothing and therefore continue to hold all their Shares and benefit from any increase in capital value delivered by the Company's future investment performance, alongside any future income from regular dividends on their holding; or elect to receive the Special Dividend, which will provide an opportunity to participate in the one-off return of funds by the Company, on the basis that they give up a part of their holding and the entitlement to future regular dividends on such part of their holding. The Special Dividend will be paid to electing Shareholders in Sterling and in the same manner as other dividends paid by the Company, including for the purposes of UK taxation. Any Shareholder who is in any doubt about their tax position is recommended to seek appropriate independent professional advice without delay. All Shareholders are being given the chance to elect to receive the Special Dividend. However, it is up to Shareholders to decide whether they wish to elect to receive the Special Dividend or not, and there is no obligation to do so. Shareholders may make this choice in the light of their own circumstances and individual tax considerations. The amount of the Special Dividend per Share will represent an amount equal to 97.5 per cent. of the Net Asset Value per Share as at the Net Asset Value Certification Date (expected to be 6.00 p.m. on 17 September 2024). Shareholders should note that this date will be after the end of the Special Dividend election period, so Shareholders will not know the precise amount of the Special Dividend they will receive at the time that they make their elections. The Net Asset Value per Share will be calculated in accordance with the provisions set out in paragraph 3 of Part III of the Circular. |
Posted at 18/7/2024 14:47 by 2wild The Directors of Invesco Perpetual UK Smaller Companies Investment Trust plc are pleased to declare a First Interim Dividend for the year ending 31 January 2025 of 3.85p per share (2024:3.85p), payable 30 August 2024 to ordinary shareholders on the register on 2 August 2024. The shares will be quoted ex-dividend on 1 August 2024.Shareholders are reminded that the Company's dividend policy is to pay out all income earned within the portfolio and to enhance it annually through the use of realised capital profits with a target dividend yield of 4% of the year end (31 January) share price. |
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