• Global Smaller Companies
  • 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

    The value of your investments can go down as well as up, and you may not get back what you originally invested.

  • Share price

    1,368.00p +12.50p

      

Key facts

  • Key points

    The trust offers 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 47 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 £812.3 million (as at 30.09.2017)
    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

    October was a good month for share prices in most stock markets, despite the distraction of the political turmoil in Catalonia within Spain. Far Eastern markets bounced back well after weakness in the previous month. The Company’s net asset value (NAV) was up reflecting the prevailing strength in the markets and the pull-back in sterling, which lifted the value of our overseas portfolios when translated into pounds. Pleasingly the NAV was ahead of the Benchmark, although the share price lagged and moved to a small discount at the end of the month.

    The good run of performance on our UK portfolio continued, with a number of positive individual company announcements. There was a good quarterly update from electrical components supplier XP Power, while shares in carpet supplier Victoria, were strong as the company announced an earnings enhancing deal. Elsewhere, health software company Craneware’s shares were strong in advance of a positive contract announcement, while shares in lending business Aldermore jumped after news of a potential offer for the company. The weakest performer in the month was Revolution Bars, following the failure of a bid for the company to gain sufficient support from its shareholders.

    The US portfolio did better than the US smaller companies market in October. Shares in GTT Communications, a telecommunications services business, benefited from more interest in the sector, while Wellcare Health Plans and Total Services Systems (electronic payments processor delivered good results because of better than expected margins. On the negative side, earnings at software business CommVault Systems disappointed due to delays in some large orders, while car servicing business Monro dropped after weak sales numbers.

    The performance of our European portfolio was held back by its lack of exposure in some of the stronger parts of the market, for example IT and telecoms. Our holding in Swedish based wooden window manufacturer Inwido, suffered as the company struggled to keep up with higher levels of demand, while French IT hardware and software provider Lectra fell back as negative foreign exchange movements took the shine off their positive order intake and cash-flow. More positively Swedish facilities management company Coor did well as results impressed and Credit data supplier Cerved was strong as quarterly results went down well and the company highlighted new business partnerships.

    Our holding in the Aberdeen Japanese Smaller Companies fund did well in October, more than matching the local market’s run-up. A number of our other fund holdings focused on Asian markets performed well in the month but the Scottish Oriental Smaller Companies fund lagged as its discount to NAV rose. We added to our Japanese and Asian weightings during the month, after we deployed some of the proceeds of a loan taken out under the Company’s recently established revolving credit facility.

    As at 31 October 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

    1,368.00p +12.50p

      

  • 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.

  • Best-Global-Investment-Trust-v1         Rated fund logo 2017            AIC Dividend Logo
Top

 

Cookie Policy

We have published a new cookie policy. To learn more about cookies, their benefits and how we use them on our website, please read our cookie policy.

By using the site you are accepting this policy.