Invesco Perpetual UK Smaller Companies Investment Trust Plc

Invesco Perpetual UK Smaller Companies Investment Trust plc

Harnessing the best ideas in UK smaller companies

Please read the Investment Risks and Footnotes at the bottom of the page.

Useful documents

Monthly factsheet (PDF download)

Annual financial report 2020 (PDF download)

Why consider Invesco Perpetual UK Smaller Companies Investment Trust plc?

  1. An uncompromising focus on identifying quality UK small and medium size companies
  2. A total return mindset and payment of quarterly dividends*
  3. An attractive area of the market where one can find genuine mispricing of good businesses

* 100% distribution of portfolio income enhanced by contribution from capital returns. 

How we invest

Historically, UK smaller companies have outperformed larger stocks over time. With the ability to select from a universe of around 1000 companies, the managers use a structured investment approach that has resulted in a proven long-term track record across varied market conditions.

The managers continue to seek growing business, which have the potential to be significantly larger in the medium term. These tend to be companies that either have great products or services, enabling them to take market share from their competitors, or companies that are exposed to higher growth niches within the UK economy or overseas. The managers prefer to invest in cash generative businesses that can fund their own expansion, although they are willing to back strong management teams by providing additional capital to invest for growth.

Insights

Key facts

Launch date:   March 1988*
Fund manager:   Jonathan Brown
Deputy portfolio manager:   Robin West
ISIN:   GB00B1FL3C76
AIC sector:   UK Smaller Companies

*The investment trust was launched in March 1988 (formerly known as Berry Starquest plc). Perpetual took over the management of the investment trust on 1 March 1994. On 13 June 2002, following shareholder resolution, the investment trust's name changed to Invesco Perpetual UK Smaller Companies Investment Trust plc.

Performance

Standardised rolling 12-month performance (% growth)

  31.03.15 
31.03.16
31.03.16 
31.03.17
31.03.17
31.03.18
31.03.18 
31.03.19
31.03.19 
31.03.20
Ordinary Share Price 12.3 29.9 11.3 2.4 -18.4
Net Asset Value 10.5 23.6 11.9 3.2 -15.7
Numis Smaller Companies ex IC Index 4.2 18.8 5.2 -1.2 -25.9

Past performance is not a guide to future returns. Ordinary share price performance figures have been calculated using daily closing prices with dividends reinvested. NAV performance figures have been calculated using daily NAV with dividends reinvested. The NAV used includes current period revenue and values debt at fair. The Numis Smaller Companies ex IC Index performance shown is total return. All performance figures are in sterling as at 31 March 2020 unless otherwise stated. Standardised past performance figures are updated on a quarterly basis. Source: Morningstar.

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Investment objective

The Company is an investment trust whose investment objective is to achieve long-term total return for shareholders primarily by investment in a broad cross- section of small to medium sized UK quoted companies.

Further details of the Company's Investment Policy and Risk and Investment Limits can be found in the Report of the Directors contained within the Company's Annual Financial Report.

Company directors



All directors are non-executive and, in the opinion of the Board, are independent of the Manager.

Contact the Board of Directors

Should you wish to contact a member of the Board of Directors, please email the Company Secretary.

When you interact with us, we may collect information about you which constitutes personal data under applicable laws and regulations. The Trust privacy notice explains how we use and protect your personal data.

Footnotes

  • Total Assets: The value of all assets held, less current liabilities, including income for the current year.

  • Dividend Yield: The total declared and prospective dividends for the current financial year, expressed as a percentage of the trust’s value calculated at the last close price. The yield is indicative only and is not guaranteed. 

  • Estimated NAV: The net asset value is the value of the company’s assets, less any liabilities.

  • Discount: The amount, expressed as a percentage by which the share price is less than the net asset value per share. Premium: The amount, expressed as a percentage, by which the share price is more than the net asset value per share. 

  • Figures are subject to rounding.

Investment Risks

  • The value of investments and any income will fluctuate (this may partly be the result of exchange rate fluctuations) and investors may not get back the full amount invested.
  • When making an investment in an investment trust you are buying shares in a company that is listed on a stock exchange. The price of the shares will be determined by supply and demand. Consequently, the share price of an investment trust may be higher or lower than the underlying net asset value of the investments in its portfolio and there can be no certainty that there will be liquidity in the shares.
  • As this is a smaller companies product, investors should be prepared to accept a higher degree of risk than for a product with a broader investment mandate.
  • The product uses derivatives for efficient portfolio management which may result in increased volatility in the NAV.
  • The use of borrowings may increase the volatility of the NAV and may reduce returns when asset values fall.

Important information

  • Where individuals or the business have expressed opinions, they are based on current market conditions, they may differ from those of other investment professionals and are subject to change without notice. This marketing material is not intended as a recommendation to invest in any particular asset class, security or strategy. Regulatory requirements that require impartiality of investment/investment strategy recommendations are therefore not applicable nor are any prohibitions to trade before publication. The information provided is for illustrative purposes only, it should not be relied upon as recommendations to buy or sell securities.
  • For more information on our products, please refer to the relevant Key Information Document (KID), Alternative Investment Fund Managers Directive document (AIFMD), and the latest Annual or Half-Yearly Financial Reports. This information is available in the literature section.