AUSC aims to achieve long-term capital growth through investment in a diversified portfolio mainly consisting of UK-quoted smaller companies. Performance is measured against the Numis Smaller Companies plus AIM ex-Investment Companies Index.
abrdn UK Smaller Companies Growth Trust (AUSC) is managed by two of abrdn’s small-cap specialists: Harry Nimmo (since September 2003) and Abby Glennie (since November 2020). The trust has a long-term record of outperformance versus its reference index, with the managers following a clearly defined focus on quality, growth and momentum stocks, which means they consider that it is likely to underperform when cyclical/value stocks lead the market. There is a high level of economic uncertainty in the UK due to inflation, rising interest rates and the war in Ukraine. However, the managers are confident that if there is a recession, the trust will outperform as the fund contains high-quality businesses and ‘the strong get stronger in difficult times’. They say historical data show that when stock markets weaken it is a good time to consider an investment in AUSC.