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 21-Feb-2012
Ord| Price | 137.38p |
| NAV** | 153.66p |
| Prem/-Disc** | -10.60% |
| Net Dividend Yield | 3.53% |
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
February 2012
Equities got off to a good start in 2012 with the FTSE All-Share Index delivering gains of 2.7% on a total return basis. Small companies performed particularly strongly posting 8% returns. Investors began to focus more on the improvements in economic data, most notably from the US, than on the European debt crisis. This was accompanied by an increase in appetite for risk. Policymakers in the United States indicated that interest rates would likely be held at the current remarkably low levels possibly until 2014.
In Europe the Purchasing Managers’ Index was stronger than expected. Meanwhile investors were encouraged that the European Central Bank’s Long Term Refinancing Operation appeared to be having a positive impact. This was evidenced as both Spain and Italy were able to issue new bonds at lower rates than they had previously experienced. Therefore the impact of the announcement that S&P had downgraded the status of nine members of the eurozone including France and Austria was barely noticeable.
News flow from the UK was more downbeat with many consumer-exposed companies reporting that the festive period had been disappointing. GDP data indicated that the economy had contracted by 0.2% during the last quarter. One positive was that although still high, inflation did begin to moderate as the RPI measure declined from 5.2% to 4.7%. During January we completed the exit from Zotefoams. The business has recovered well from the depths of the recession and this has been reflected in the share price performance. We also top -sliced Fenner which continues to perform well. A portion of the proceeds were reinvested by way of a top up of XP Power.
Source: Monthly Factsheet Aberdeen Asset Managers Limited