Aberforth Smaller Companies Trust
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Aberforth Smaller Companies Trust
Aberforth Smaller Companies Trust (LSE: ASL) is a large British investment trust dedicated to investments in smaller companies, those with a capitalisation below £1.264 billion as of 1 January 2012, equivalent to the constituents of the RBS Hoare Govett Smaller Companies Index, which has 422 components. Established 10 December 1990, the company is a constituent of the FTSE 250 Index. The Chairman is David Shaw.
The firm is the largest UK Smaller Companies Investment Trust. It operates a diversified portfolio of over 80 companies, and is 8.2% geared as of 19th April 2012, with £717m of net asset value.[1] The firm charges a management fee of 0.8% per annum.
Past performance
| Period | NAV % change | Index % change | Share Price % change |
| Year to 31 December 2011 | -13.5 | -9.1 | -18.5 |
| Year to 31 December 2010 | 26.6 | 28.5 | 22.8 |
| Year to 31 December 2009 | 44.4 | 60.7 | 59.2 |
| Year to 31 December 2008 | -39.6 | -40.8 | -38.3 |
| Year to 31 December 2007 | -10.4 | -8.3 | -17.3 |
| Year to 31 December 2006 | 26.3 | 28 | 15 |
| Year to 31 December 2005 | 24.9 | 27.8 | 25.1 |
| Year to 31 December 2004 | 28.7 | 20.7 | 35.2 |
| Year to 31 December 2003 | 37.1 | 43 | 25.4 |
| Year to 31 December 2002 | -9.7 | -23.3 | 1.7 |
| Year to 31 December 2001 | 7.9 | -13 | 17.7 |
| Year to 31 December 2000 | 15.6 | 1.2 | 4.2 |
| Year to 31 December 1999 | 49.5 | 56.2 | 62.5 |
| Year to 31 December 1998 | -6.1 | -5.7 | -14.2 |
| Year to 31 December 1997 | 5.3 | 9.2 | -1.4 |
| Year to 31 December 1996 | 22.3 | 18.7 | 20.5 |
| Year to 31 December 1995 | 23.2 | 16.1 | 21 |
| Year to 31 December 1994 | -2.6 | -3.1 | -7 |
| Year to 31 December 1993 | 50.9 | 41.6 | 57.6 |
| Year to 31 December 1992 | 2.8 | 6.4 | 3.4 |
| Year to 31 December 1991 | 32.1 | 18.3 | 29.4 |
The firm delivered outperformance of its index, which itself grew substantially, 8 years out of 14 through 31st December 2004. Since then it has lagged the index in almost every period.
References
External links
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