Abrdn UK Smaller Compani... Share Discussion Threads

[dr biotech] 07/9/2021 10:22

Anyone around here?

Interesting to see that performance over the last year has lagged the benchmark index buy a little, though 42% is still decent return. Hopefully they will outperform over the next part of the cycle that they allude to.

It compares to 59% that I had from Marlborough smaller companies. These two are my largest holdings accounting for almost 20% of my total portfolio. My largest single indiidual share is less than 5% so the importance of these can not be overstated.

[speedsgh] 24/11/2020 16:34

Latest Edison research note...

Matrix driving continued outperformance -

[gilston] 20/11/2020 17:19

Peddlers, if this did not get through the paywall, just google "Harry Nimmo letter to Ft."

[peddlers] 19/11/2020 14:25

Gilston - would you mind sharing the link to the article please

[dr biotech] 17/11/2020 11:10

So Harry will def step down in a couple of years. Will reduce my holding when he does.

[dr biotech] 09/10/2020 17:20

Harry Nimmo’s record is really good - this has outperformed most others in this sector over any decent period of time. It’s one of my largest holdings, have about 10% of my holdings in this one.

[speedsgh] 08/10/2020 13:10

UK small-caps: themes from a crisis – by Harry Nimmo, Manager of Standard Life UK Smaller Companies Trust plc

[speedsgh] 15/9/2020 21:37

From today's Tempus column in the Times...



The challenges that have faced the Standard Life UK Smaller Companies Trust in the past couple of years are clear for all to see (Greig Cameron writes). Its financial year runs to June 30, so its 2019 results were affected by the sell-off in stock markets near the end of 2018; this year’s results, published last week, took into account the initial impact of Covid-19.

The resulting two years of negative absolute returns could be a cause for concern for some investors, perhaps, but look a little deeper and the trust has comfortably outperformed its benchmark — the Numis Smaller Companies plus Aim index, excluding investment companies — in both periods. And having seen the value of its portfolio dive by close to 40 per cent in March, a net asset value total return of -0.5 per cent over the full year to the end of June underlines the recovery in equities post-lockdown.

Harry Nimmo has run the trust since 2003 and oversaw an expansion in 2018, when it was merged with Dunedin Smaller Companies Investment Trust. He and his team have a strong record of solid returns, with an average of 15.6 per cent annual growth since they took over. The aim is to pick the best of UK smaller and mid-cap companies with a long-term view. Mr Nimmo, 63, states that the principles of “risk-aversion, resilience, growth and momentum” have not changed and that the pandemic may actually accelerate trends beneficial for smaller companies. However, “with the potential for further spikes in Covid outbreaks, a vaccine some way off and a difficult negotiation on Brexit ahead, the recovery may be punctuated by setbacks”.

Digital businesses are a favourite, with Kainos, the software developer, Gamma Communications, a telecoms company, and Future, the magazine and online publisher, among its biggest holdings.

The 7.7p dividend was flat year-on-year, with the trust dipping into its revenue reserves to maintain it at that level. The shares entered 2020 at more than 630p, but halved to 314p in March. A recovery since then means that the shares are now changing hands for about 540p.

ADVICE: Hold
WHY: Growth potential for patient investors

[jaws6] 06/7/2020 11:13

now at back to discount .

[lozzer69] 17/12/2019 09:29

SLS now powering ahead and now at a premium ?

[dr biotech] 13/9/2019 22:26

Yes, but in a falling market if people sell the open ended funds then the manager may have to make a fire sale, but the trust can hold on and sell when they like. Just have to look at Woodfords WEIF to see what a disaster that can be - ie locked in and still paying fees.

I have a few of these - Harry Nimmos record is pretty good.

[chinahere] 12/9/2019 23:15

The fees are a question mark.

HL say the SL smaller UK companies fund has total charges of 1.23% whereas this trust is listed as 1.93%.

The NAV discount isn't a winner over time if the fees are greater.....

[chinahere] 11/9/2019 09:59

I hold the Standard Life UK Smaller Company fund but charted this against it and see it's pretty much the same and also run by Harry Nimmo. Thing is this is trading at a 8.5% discount to the NAV.

I realise in theory the discount could widen, but are there any other downsides to me swapping to these?

[topvest] 07/9/2019 16:43

A very quiet BB. Often a good sign. Just read the annual report. There is no doubt in my mind that this is a high quality undervalued trust. Harry Nimo is a good manager and has avoided the blue sky disasters. Small company trusts are always on a discount, but it’s not really warranted. On my ADD list.

[contrarian joe] 13/3/2019 17:24

Added today on a 7% discount,normally they start to buy back at 8% discount,have beaten their respective indices by a wide % overtime.

[shiv1986] 26/2/2019 10:02

See the latest ADVFN twitter poll about Funds:

[dr biotech] 26/8/2018 09:02

Discount on SDV is also quite wide based on their historical average. Not really sure why, the discount seems to vary randomly with some obvious exceptions such as the brexit vote. I think buying trusts based on their discounts is the way to go as they will always narrow, but of course you have also got to like what’s in them.

[topvest] 25/8/2018 11:12

Yes, I'm in this trust and Dunedin Smaller Companies, so will be doubling up when that goes through. A well run trust. Discount probably widening on small companies as we are near the top of the market. Happy to hold this long term though.

[dr biotech] 25/8/2018 09:48

Discount here near it’s max, long term averages more than 10% I am in. Will add 2k a month. Anyone else around?

[sharesoc] 23/11/2017 15:38

'Standard Life UK Smaller Companies and FRC Meetings' Blog post available here:

[luckymouse] 02/9/2016 12:12

lot of buys

[hiriam007] 03/9/2015 22:45

This week's Investors Chronicle gives this a buy.

[uk2day] 21/7/2015 23:07

nice! did they mention a price target?

[wingrove4] 21/7/2015 09:23

It was recommended in this weekends Telegraph. Mentioned about the discount and the long-term performance. I have purchased some more this has done very well for me