Standard Life UK Smaller Companies Trust plc


To achieve long-term capital growth by investment in UK-quoted smaller companies.

Morningstar rating:
5 out of 5

Daily prices as of {{asOfDate}}

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Profile

The Company intends to achieve its investment objective by investing in a diversified portfolio consisting mainly of UK quoted smaller companies. The portfolio will normally comprise around 50 individual holdings representing the Investment Manager’s highest conviction investment ideas. In order to reduce risk in the Company without compromising flexibility, no holding within the portfolio should exceed 5 per cent. of total assets at the time of acquisition.

The Company may use derivatives for portfolio hedging purposes (i.e. only for the purpose of reducing, transferring or eliminating the investment risks in its investments in order to protect the Company’s portfolio).

Within the Company’s Articles of Association, the maximum level of gearing is 100 per cent of net assets. The Directors’ policy is that gearing will be between 5 per cent net cash and 25% net geared (at the time of drawdown) in normal market conditions. The Directors have delegated responsibility to the Investment Manager for the operation of the gearing level within the above parameters.

The Investment Manager’s investment process combines asset allocation, stock selection, portfolio construction, risk management, and dealing. The investment process is research intensive and is driven by the Investment Manager’s distinctive “focus on change” which recognises that different factors drive individual stocks and markets at different times in the cycle. This flexible, but disciplined, process ensures that the Investment Manager has the opportunity to perform in different market conditions.

Key people

Allister Langlands

Chairman

Allister was appointed as a Director on 1 July 2014 and was appointed Chairman on 22 August 2017 . He also chairs the Nomination Committee. Allister is a chartered accountant and was, until 2014, Chairman of John Wood Group PLC, having served as chief executive from 2007 to 2012 and previously as deputy chief executive from 1999 and as group finance director from 1991. He is also independent non-executive Chairman of Maven Income and Growth VCT 5 plc. Allister was, until July 2017, Chairman of Exova Group plc and a non-executive director of WS Atkins plc.

Ashton Bradbury

Director

Ashton was appointed as a Director on 2 July 2018. He is a non-executive Director of Hargreave Hale AIM VCT 1 plc and , until 2014, was a fund manager with Old Mutual Global Investors Limited, where he established its Small and Mid-cap equities team. Ashton is a non-executive director of Golf Union of Wales Limited. Ashton holds a BSc Honours Degree in Banking and Finance from Loughborough University of Technology.

Alexa Henderson

Director

Alexa was appointed as a Director on 8 October 2018 was a chartered accountant with KPMG and Arthur Andersen in Edinburgh and Melbourne and a director of the WM Company, a Deutsche Bank company. Currently a non-executive director and chair of the audit committee of Adam and Company and a non-executive director of JPMorgan Japan Smaller Companies Trust PLC, F&C UK Real Estate Investments Limited, Bravura Solutions Limited (a company listed on the Australian Securities Exchange) and James Walker (Leith) Limited. She is a member of the Institute of Chartered Accountants of Scotland.

Caroline Ramsay

Director

Caroline was appointed as a Director on 22 August 2016 and is Chair of the Audit Committee . Caroline is currently a non-executive Director of Aegon UK PLC where she also chairs the Audit Committee and non-executive director of Scottish Equitable plc, Scottish Equitable Holdings Ltd and Cofunds Ltd. She is a non-executive director of Tesco Underwriting Limited and Brit Syndicates Limited and is a member of the Financial Conduct Authority’s Regulatory Decisions Committee. Until June 2015, Caroline was the Group Chief Auditor for RSA plc having held previous senior positions at RSA plc including UK Chief Financial Officer. After qualifying and practising as a chartered accountant with KPMG, she held various roles within Aviva Plc.

Tim Scholefield

Director

Tim was appointed as a Director on 20 February 2017 and chairs the Management Engagement Committee. Tim is an Associate of the Society of Investment Professionals and previously held roles at Royal Sun Alliance Investments and Scottish Widows Investment Partnership. He was, until 2014, Head of Equities at Baring Asset Management. Tim is currently Chairman of City Merchants High Yield Trust Ltd, a non-executive Director of F&C Capital and Income Investment Trust Plc and Fidelity Asian Values Plc. In addition, he is a member of the Investment Committee of the General Medical Council, Chairman of the Investment Management Certificate Panel and consultant to Livingbridge EP LLP.
  • Allister Langlands

    Chairman

    Allister was appointed as a Director on 1 July 2014 and was appointed Chairman on 22 August 2017 . He also chairs the Nomination Committee. Allister is a chartered accountant and was, until 2014, Chairman of John Wood Group PLC, having served as chief executive from 2007 to 2012 and previously as deputy chief executive from 1999 and as group finance director from 1991. He is also independent non-executive Chairman of Maven Income and Growth VCT 5 plc. Allister was, until July 2017, Chairman of Exova Group plc and a non-executive director of WS Atkins plc.
  • Ashton Bradbury

    Director

    Ashton was appointed as a Director on 2 July 2018. He is a non-executive Director of Hargreave Hale AIM VCT 1 plc and , until 2014, was a fund manager with Old Mutual Global Investors Limited, where he established its Small and Mid-cap equities team. Ashton is a non-executive director of Golf Union of Wales Limited. Ashton holds a BSc Honours Degree in Banking and Finance from Loughborough University of Technology.
  • Alexa Henderson

    Director

    Alexa was appointed as a Director on 8 October 2018 was a chartered accountant with KPMG and Arthur Andersen in Edinburgh and Melbourne and a director of the WM Company, a Deutsche Bank company. Currently a non-executive director and chair of the audit committee of Adam and Company and a non-executive director of JPMorgan Japan Smaller Companies Trust PLC, F&C UK Real Estate Investments Limited, Bravura Solutions Limited (a company listed on the Australian Securities Exchange) and James Walker (Leith) Limited. She is a member of the Institute of Chartered Accountants of Scotland.
  • Caroline Ramsay

    Director

    Caroline was appointed as a Director on 22 August 2016 and is Chair of the Audit Committee . Caroline is currently a non-executive Director of Aegon UK PLC where she also chairs the Audit Committee and non-executive director of Scottish Equitable plc, Scottish Equitable Holdings Ltd and Cofunds Ltd. She is a non-executive director of Tesco Underwriting Limited and Brit Syndicates Limited and is a member of the Financial Conduct Authority’s Regulatory Decisions Committee. Until June 2015, Caroline was the Group Chief Auditor for RSA plc having held previous senior positions at RSA plc including UK Chief Financial Officer. After qualifying and practising as a chartered accountant with KPMG, she held various roles within Aviva Plc.
  • Tim Scholefield

    Director

    Tim was appointed as a Director on 20 February 2017 and chairs the Management Engagement Committee. Tim is an Associate of the Society of Investment Professionals and previously held roles at Royal Sun Alliance Investments and Scottish Widows Investment Partnership. He was, until 2014, Head of Equities at Baring Asset Management. Tim is currently Chairman of City Merchants High Yield Trust Ltd, a non-executive Director of F&C Capital and Income Investment Trust Plc and Fidelity Asian Values Plc. In addition, he is a member of the Investment Committee of the General Medical Council, Chairman of the Investment Management Certificate Panel and consultant to Livingbridge EP LLP.

Harry Nimmo

Investment Manager

Harry graduated with an MBA from the University of Edinburgh in 1984 and joined Standard Life as an Investment Analyst with responsibility for UK equity funds in 1985. He became Senior Investment Analyst with sector responsibility for larger UK-quoted companies funds in 1990 and Investment Manager responsible for the UK equity smaller (quoted) company funds in 1993. Harry has managed our UK Smaller Companies Fund since its launch in January 1997.
  • Harry Nimmo

    Investment Manager

    Harry graduated with an MBA from the University of Edinburgh in 1984 and joined Standard Life as an Investment Analyst with responsibility for UK equity funds in 1985. He became Senior Investment Analyst with sector responsibility for larger UK-quoted companies funds in 1990 and Investment Manager responsible for the UK equity smaller (quoted) company funds in 1993. Harry has managed our UK Smaller Companies Fund since its launch in January 1997.

Financial calendar

Event Date
Year End 30 June
Accounts Published August
Annual General Meeting October
Dividend Paid April and October

Trust details

Standard Life UK Smaller Companies Trust Plc

Registered Office:
c/o Maven Capital Partners UK LLP
1st Floor
Kintyre House
205 West George Street
Glasgow G2 2LW

Registered in Scotland. Company number SC145455

Launch date: 9 July 1993

Risk Warning
Risk warning
The value of investments and the income from them can go down as well as up and you may get back less than the amount invested. The tax benefits relating to ISA investments may not be maintained. Investors should review the relevant Key Information Document (KID) brochure prior to making an investment decision.
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