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.
- During the 3 months to 30 September 2012, the Company's net asset value rose by 12.9%. By comparison, the Company's benchmark, the NSCI (XIC), rose by 9.5%. All figures are total returns.
- As at 30 September 2012, the share price was 657p, representing a discount of 15.4% to the net asset value.
- During the 3 months to 30 September 2012, the level of gearing fell from 8.8% to 8.0%.
- 195,000 shares were purchased for cancellation during the period under review for a total consideration of £1,173,000. As at 30 September 2012, there were 95,692,792 shares in issue.
- A first interim dividend in respect of the year ending 31 December 2012 of 7.0p, an increase of 8.5%, was paid on 23 August 2012.