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ScotGems

LN: SGEM

Market Cap£41.5m

Last Close 77.5p

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Investment summary

ScotGems (SGEM) has commenced dealing on the London Stock Exchange today, having raised £50.3m via an initial placing and offer for subscription. A new global smaller companies investment trust, managed by Ashish Swarup and Tom Allen at Stewart Investors, SGEM will seek capital growth from a concentrated portfolio of 20-30 stocks with market capitalisations below $2.5bn, initially at least with a bias towards Asia-Pacific and emerging markets. Stewart Investors focuses on stewardship and seeks to invest in small-cap companies with strong franchises and balance sheets. The investment manager is known for closely managing capacity in its investment strategies, with many of its popular funds closed to new investment. A placing programme will allow SGEM to issue up to a further 49.7m shares at a premium to NAV, giving maximum total assets of c £100m at the IPO price.

Content on ScotGems
ScotGems – Focused portfolio with initial Asia ex-Japan/EM tilt
Investment companies | First day of dealings | 14 August 2018
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Price performance
%
1m
3m
12m
Actual 2.7 0.0 27.1
Relative* 4.2 0.9 6.5
52-week high/low 80.0p/61.0p
*% relative to local index

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