Important Information

THE SCOTTISH ORIENTAL SMALLER COMPANIES TRUST PLC

Before finding out more about The Scottish Oriental Smaller Companies Trust plc (the “Company”), it is important that you first read and understand the information set out below and also the Investor Disclosure Document which can be downloaded here. The Company is an investment trust, incorporated in Scotland with registered number SC156108, whose shares have been admitted to the Official List of the UK Listing Authority and admitted to trading on the main market of the London Stock Exchange plc. The Company’s Alternative Investment Fund Manager is First Sentier Investors (UK) Funds Limited and portfolio management has been delegated to First Sentier Investors (UK) IM Limited (together “First Sentier Investors”). 

Important information for Investors

The information contained on the following pages has been prepared for the use of those people who are United Kingdom residents for tax and investment purposes. By proceeding, you are representing that you are a resident in the United Kingdom. If you are unable to make this representation then you should leave this website immediately. First Sentier Investors believes that the information provided is accurate as at the date of its publication, but no representation or warranty of accuracy is given by First Sentier Investors and therefore no liability in respect of any error or omission by a third party is accepted by First Sentier Investors or its affiliates or any of their directors, employees, consultants or agents.

The information contained in this website is subject to change without prior notice and is not to be reproduced, copied or otherwise made available to persons other than those for whom it is intended, especially anyone outside the UK for tax or investment purposes, without the prior written consent of First Sentier Investors.

This website and its contents have been issued and approved by First Sentier Investors (UK) Funds Limited, in its capacity as Scottish Oriental’s Alternative Investment Fund Manager. First Sentier Investors is authorised and regulated in the United Kingdom by the Financial Conduct Authority. Any comments expressed reflect the views of First Sentier Investors and should not be taken as any kind of recommendation or advice. 

Please note the following warnings: 


Performance: Past performance of the Company is not necessarily a guide to the Company’s future performance.

Changes in exchange rates will affect the value of investments overseas. Gearing, where borrowing is used to fund further investment, can increase the returns in rising markets and decrease the returns in market downturns.

Any tax reliefs mentioned, such as for PEPs and ISAs, are subject to change. Their value depends on the circumstances of each individual investor.

Shares in The Scottish Oriental Smaller Companies Trust PLC have not been and will not be registered under the United States Securities Act 1933 (as amended). The information in this website is not intended for distribution and does not constitute an offer to sell or the solicitation of any offer to buy any securities in any jurisdiction in which such offer, solicitation or distribution would be unlawful including but not limited to the United States of America or for the benefit of any United States persons.

Investment Risk: please remember that the value of investments and the income from them may go down as well as up and that you may not get back the amount you originally invested.

Emerging market risk: Emerging markets (those countries, which are not considered to be developed), are tend to be less resilient to changes to their economic and political conditions than developed markets. Additionally, it may be harder to sell some of the Company’s investments in these countries and there may be rules in place in those countries which make buying, transferring or selling investments more challenging. Working out how much each investment is worth may also be problematic. There may also be times when us paying for or being paid for, or giving or receiving investments that we have attempted to buy or sell is much more challenging than it would be in other countries, or impossible. You should consider whether or not an investment in a fund which invest in such markets is either suitable for or should constitute a substantial part of an investor’s portfolio.

Specific region risk: investing in a region may be more risky than investing in a number of different countries or regions. Investing in a larger number of countries or regions helps to spread the risk of investment.

Currency risk: the Company invests in companies that may be denominated in currencies other than GBP. Changes in exchange rates will affect the value of investments held by the Company and so the value of the Company itself.

Share price risk: The Company’s share price may not fully reflect the sum of all of the Company’s assets. The share price of the Company is determined by the changing conditions in the relevant stock markets in which the Company invests and by the supply and demand for the Company’s shares. As the shares in the Company are traded on a stock market, the share price will change depending on supply and demand (how many people wish to buy or sell shares in the Company). As a result, the share price of the Company may not reflect the sum of all of the assets of the Company, the difference is known as the 'discount'. This is one of the reasons that investors in the Company may not get back the original amount invested.

Smaller companies risk: an investment in a smaller company may be riskier and more difficult to buy and sell than an investment in a larger company.

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 Company'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.

 

Investments in the Scottish Oriental Smaller Companies Trust PLC may be less liquid than the securities of a larger company, or an investment trust which invests in larger companies, or in more developed economic regions. Securities in smaller companies or an investment trust (such as the Scottish Oriental Smaller Companies Trust PLC) which invests in emerging markets may possess greater potential for capital appreciation, but also involve risks, such as limited product lines, markets and financial or managerial resources and trading in such securities may be subject to more abrupt price movements than trading in the securities of larger companies.

If you are in any doubt about any of the information on this web site, please consult your independent financial or other such adviser authorised to give investment advice under the Financial Services and Markets Act 2000.

Our regulator, the Financial Conduct Authority, also has a website.

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