• Global Smallers Companies -NEW BANNER
  • The Trust seeks to exploit the high investment potential of smaller companies listed on global equity markets. Many smaller companies are not widely researched, opening up the potential for our detailed fundamental analysis to identify valuation anomalies. 

    The greater inherent ability of smaller enterprises to grow faster than more mature, larger companies, is also positive for the long term outlook.

  • How to Invest

    Open an F&C Savings Plan

    Call: 0800 136 420

    Invest online now

  • Share price

    1303.00p13.00p

    closed

Key facts

  • NEW - Fund Manager update video

     
     

    F&C Global Smaller Companies - foundation video

     
  • Key points

    This trust remains the only investment trust to offer investor access to a broadly spread global smaller companies portfolio. The portfolio consists of individual smaller company investments within the US, UK and European markets, and fund holdings targeting smaller companies in Japan, Asia, Latin America and other smaller territories. The dividend of the Company has risen for 46 years in a row, benefiting from a growing income stream from the investment portfolio.

    Past performance is not a guide to future performance.

  • Fund facts
    Investment manager F&C Investment Business Limited
    Benchmark 30% Numis UK Smaller Companies (excluding investment companies) Index / 70% MSCI all country World ex UK Small Cap Index
    AIC sector Global Growth
    Launch date 1889
    Total assets £761.9 million (as at 31.03.2017)
    Currency Sterling
    ISIN GB0000175058
    SEDOL 0017505
    Key dates
    Annual general meeting July
    Year end 30 April
    Dividends paid August and January
    Results announced  June (final)
    December (half yearly)
  • Fund manager commentary

    The last month of the Company’s financial year saw share prices in most markets post further gains. European markets responded positively to the results of the first round of the French presidential elections. Sterling rose as the currency markets viewed the likely outcome to the impending UK general election as being positive in relation to the Brexit negotiations. This served to impact the sterling performance of the overseas portfolios and for the month as a whole therefore, the NAV was only modestly up. This was nevertheless better than a small fall for the benchmark.

    Performance of the UK, European, Japanese and Rest of World portfolios were ahead of the local small cap indices. In the UK, there were a number of strong performers with most of our property holdings doing well. A number of industrial companies including Luceco, XP Power and Acal, were also up on the back of strong updates. SDX Energy jumped after announcing a gas discovery in Egypt. Less positively, sports agency business TLA Worldwide dropped after a disappointing trading statement raised a number of questions around the company’s accounting.

    In Europe, industrial stocks Indutrade, Inwido and Lectra were up as trading updates pleased the markets. Shares in agronomy business Origin Enterprises were also up as it reported a solid start to the key spring season. Detractors from performance included Gerresheimer and Amer Sports. Results from the former were slightly disappointing, reflecting, we feel in the main, timing issues, while in the latter case margin performance was lower than had been anticipated.

    Our Japanese funds were down slightly in sterling terms, but this was better than the MSCI Japan Small Cap index. We also enjoyed a solid month on the Asian focused funds with our largest holding, the Scottish Oriental Smaller Companies trust, benefiting from discount narrowing.

    The US portfolio underperformed in April. The failure of golf club operator Clubcorp to find a buyer for itself after a strategic review, weighed on its shares. Carrizo Oil and Gas shares were weak as the oil price fell back, while waste to energy business Covanta dropped on the back of poor results. On the positive side, travel software company Sabre was up as an index rebalancing drove demand for its shares, while Total System Services rose following strong figures.

    As at 30 April 2017

  • The value of shares and the income from them is not guaranteed and can fall as well as rise due to stock market movements. Past performance is not a guide to future performance. When you sell your shares, you might get back less than you originally invested. If markets fall, gearing can magnify the negative impact on performance. Changes in rates of exchange may have an adverse effect on the value, price or income of investments. Emerging Markets, Unquoted Companies and Smaller companies carry a higher degree of risk and their value can be more sensitive to market movement; their shares may be less liquid and performance may be more volatile. The fund may invest in hedge funds or private equity funds which are not normally available to individual investors, exposing the fund to the performance, liquidity and valuation issues of these funds. Such funds typically have high minimum investment levels and may restrict or suspend redemptions or repayment to investors. The asset value of these shares and its prospects may be more difficult to assess.
  • Share price

    1303.00p13.00p

    closed

  • Peter Ewins

    Peter Ewins

    Fund Manager

Past performance is not a guide to future results. The value of investments can go down as well as up.

Information in this section of the Website is directed solely at persons who are located in the UK and can be categorised as retail clients. Nothing on this website is, or is intended to be, an offer, advice, or an invitation, to buy or sell any investments. Please read our full terms and conditions before proceeding further with any investment product referred to on this website. This website is not suitable for everyone, and if you are at all unsure whether an investment product referenced on this website will meet your individual needs, please seek advice before proceeding further with such product.

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