Investment Trust Awards 2011
Dunedin Smaller Companies, Best UK Smaller Companies Trust
Aberdeen’s Award Winning TrustsRisk Warning
The value of investments and the income from them may go down as well as up and investors may get back less than the amount invested. The tax benefits relating to ISA investments may not be maintained. Please refer to the Key Facts documents contained in the ISA/Share Plan Brochure & Application form for general and specific investment risks attaching to the individual trusts.
Read the detailed Risk WarningPast Performance
Past performance is no guide to future performance.
See latest monthly factsheet below for performance history.
Daily Data
At close 17-May-2012
Ord| Price | 128.00p |
| NAV** | 146.87p |
| Prem/-Disc** | -12.85% |
| Net Dividend Yield | 3.79% |
Subscription Shares
| Price | 0.51p |
Source: Morningstar
** Debt at par
NAV = Net Asset Value
Literature
Trust Details
Dunedin Smaller Companies Investment Trust PLC
Registered Office:
7th Floor
40 Princes Street,
Edinburgh,
EH2 2BY
Registered in Scotland as an Investment Company Number 14692
Dunedin Smaller Companies Investment Trust PLC
Objective
The objective of Dunedin Smaller Companies Investment Trust PLC is to achieve long term growth from a portfolio of smaller companies in the United Kingdom.
Manager's Monthly Report
April 2012
Small companies continued their upward rise with the benchmark FTSE SmallCap (excluding Investment Companies) Index delivering a gain of 2.4% on a total return basis. There are increasing signs that growth in China, whilst still high in absolute terms, is now slowing. Officials there have reduced their growth target to 7.5% this represents the first reduction since 2005. Not surprisingly this has had a negative impact on the share prices of many companies with exposure to the Chinese economy. Indeed the miners in particular reacted negatively to the news that BHP Billiton is experiencing weakening demand for iron ore from the country.
Closer to home, we had The Budget in the UK. This was something of a non event for markets, at least in part because the contents had been so heavily trailed. In the EU the news flow was generally downbeat with confirmation that the region had contracted in the last quarter of 2011 and the market recognising that recession was more likely than not over the course of this year.
Conversely, the US continues to show signs of recovery as evidenced by the non-farm payrolls which have exceeded expectations and PMI readings that indicate ongoing economic expansion.
In terms of portfolio activity, we top-sliced the holdings in Keller and XP Power following good share price performance. The proceeds were invested into Elementis, The Restaurant Group and Domino Printing.
Source: Monthly Factsheet Aberdeen Asset Managers Limited