abrdn UK Smaller Companies Growth Trust


Market Cap£481m

Last Close 514p

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.

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Investment summary

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.

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Share price graph
Price performance
Actual 11.0 (0.8) (29.8)
Relative* 6.4 (2.0) (30.5)
52-week high/low 784.0p/445.5p
*% relative to local index
Key management
Harry Nimmo Fund manager

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