abrdn UK Smaller Companies Growth Trust

Investment summary

Standard Life UK Smaller Companies Trust (SLS) has two managers, Harry Nimmo and Abby Glennie at abrdn (formerly Aberdeen Standard Investments); therefore, a succession plan is in place should Nimmo choose to retire. They are positive on the outlook for UK smaller-cap stocks, which is reflected in the trust’s higher level of debt compared with an ungeared position 12 months ago. The managers are encouraged by SLS’s very strong relative performance in recent months as investors have once again gravitated towards the quality, growth and momentum stocks that are favoured by its disciplined and repeatable investment process. This approach has proved successful over several market cycles; Nimmo and Glennie are essentially delivering ‘what it says on the tin’.