• Important Note

     
    Click to minimise and maximise

      RISK FACTORS
      This is a financial promotion for The Scottish Oriental Smaller Companies Trust Plc. Investing involves certain risks including:

    • The value of investments and any income from them may go down as well as up and are not guaranteed. Investors may get back significantly less than the original amount invested.
    • Emerging market risk: emerging markets may not provide the same level of investor protection as a developed market; they may involve a higher risk than investing in developed markets. 
    • Currency risk: changes in exchange rates will affect the value of assets which are denominated in other currencies. 
    • Smaller companies risk: investments in smaller companies may be riskier and more difficult to buy and sell than investments in larger companies. 
    • Leverage risk: the Trust may be leveraged due to: i) borrowings; or ii) the use of derivatives to hedge currency exposure. The amount of leverage employed is disclosed on the Trust’s website from time to time. Higher leverage increases the potential risk of loss. Investment trust share prices may not fully reflect Net Asset Value.
    • For details of the FCA authorised firms issuing this information and any funds referred to, please see Terms and Conditions and Important Information.

      For a full description of the terms of investment and the risks please see the Investor Disclosure Statement.

     
  • Price and Performance

    The daily NAV and Performance of the Trust can be found below.

The SCOTTISH ORIENTAL SMALLER COMPANIES TRUST PLC

Price
FundDateShare price (p)ex-income NAV per share (p)ex-income discount premium (%)cum-income NAV per share (p)cum-income discount premium (%)Historical NAV
Scottish Oriental Smaller Companies TrustTuesday, June 19, 20181010.001168.76-13.581172.84-13.88View
Performance
Scottish Oriental Smaller Companies Trust as at March 31, 2018
Annual performance 1yr to
Mar 18
1yr to
Mar 17
1yr to
Mar 16
1yr to
Mar 15
1yr to
Mar 14
NAV %* -2.9 29.9 -6.9 18.2 -8.8
Benchmark** % 12.5 35.4 -8.7 24.7 -6.1
Small Cap Index*** % 5.3 29.0 -6.8 17.9 -5.0
Share price % -3.0 31.1 -10.3 15.7 -18.8
These figures refer to the past. Past performance is not a reliable indicator of future results. For investors based in countries with currencies other than the share class currency, the return may increase or decrease as a result of currency fluctuations. Performance figures have been calculated since the launch date. Performance data is calculated on a net basis by deducting fees incurred at fund level (e.g. the management and administration fee) and other costs charged to the fund (e.g. transaction and custody costs), save that it does not take account of initial charges or switching fees (if any). Income reinvested is included on a net of tax basis. Source: Lipper IM / First State Investments (UK) Limited.

* Capital only return
** MSCI AC Asia (ex Japan) Index
*** MSCI Asia (ex Japan) Small Cap Index

Scottish Oriental Smaller Companies Trust as at Thursday, May 31, 2018
Cumulative performance3 mths6 mths1 yr3 yrs5 yrs10 yrsSince
launch
Nav %*1.38-0.860.2022.8131.35238.131073.40
Benchmark** %1.394.6114.0943.4069.45148.27339.49
Small Cap Index*** %2.363.8012.0023.3143.68131.83837.29
Share price %1.63-3.02-2.7315.2111.25227.36896.00
These figures refer to the past. Past performance is not a reliable indicator of future results. For investors based in countries with currencies other than the share class currency, the return may increase or decrease as a result of currency fluctuations. Performance figures have been calculated since the launch date. Performance data is calculated on a net basis by deducting fees incurred at fund level (e.g. the management and administration fee) and other costs charged to the fund (e.g. transaction and custody costs), save that it does not take account of initial charges or switching fees (if any). Income reinvested is included on a net of tax basis. Source: Lipper IM / First State Investments (UK) Limited.

* Capital only return
** MSCI AC Asia (ex Japan) Index
*** MSCI Asia (ex Japan) Small Cap Index

  • Benchmark and Comparative Indices

    Since 2003 the Directors have used the Morgan Stanley Capital International AC Asia ex Japan Index as the Trust’s benchmark. This Index, being dominated by larger companies, is far from ideal as a performance measurement tool. It has, however, the dual merit of being the most widely recognised regional index and of pre-dating the inception of the Trust in March 1995.

    For comparative purposes we are also displaying the Morgan Stanley Capital International AC Asia ex Japan Small Cap Index, which covers the relevant markets with the exception of Pakistan and Sri Lanka. This Index is currently made up of companies with a market capitalisation of between US$0.01m and US$1,935m. The range does not exactly match that of the Trust, which has no lower limit and which invests mainly in companies with a market capitalisation of under US$1,500m. Nevertheless, it gives a useful indication of the performance of smaller companies in Asia over recent years.

    As most investors in the Trust are based in the United Kingdom, the Directors consider that it is also relevant to compare the Trust’s performance to that of the FTSE All-Share Index.

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