The Fund's aims & objective, financial calendar, fund codes and value assessments
Aberforth UK Small Companies Fund is an Authorised Unit Trust. The Fund is managed by Aberforth Unit Trust Managers Limited and the Trustee is NatWest Trustee and Depositary Services Limited. The Fund is a limited issue fund in accordance with the regulations governing authorised unit trusts. This allows the Manager to control the flow of money into the Fund as a result of subscriptions for new units. The Fund issues accumulation and income units.
The investment objective of the Fund is to seek to achieve a total return, calculated on an income reinvested basis, greater than the Deutsche Numis Smaller Companies Index (excluding Investment Companies) over the long term, with the focus on rolling five year periods.
The Fund aims to achieve its objective by investing in small UK quoted companies. These are companies with a market capitalisation, at time of purchase, equal to or lower than the largest company in the bottom 10% of the main UK equity market or companies in the Numis Smaller Companies Index (excluding Investment Companies). At 1 January 2024 (the date of the last annual index rebalancing), the index included 353 companies, with an aggregate market capitalisation of £143 billion. Its upper market capitalisation limit was £1.7 billion, although this limit changes owing to movements in the stockmarket. If any holding no longer falls within this definition of a small company, its securities become candidates for sale.
Portfolio risk is spread by diversification of holdings in individual companies: the portfolio will usually have holdings in around 80 small UK quoted companies.
The Fund’s policy towards companies quoted on the Alternative Investment Market (AIM) generally precludes investment, except either where an investee company moves from the “Main Market” to AIM (so as to avoid being a forced seller) or where a company quoted on AIM has committed to move from AIM to the “Main Market” (so as to enable investment before a full listing is obtained). The Fund does not invest in any unquoted companies.
The Manager aims to keep the Fund near fully invested in equities at all times and there is normally no attempt to engage in market timing by holding high levels of liquidity.
The Manager believes that small UK quoted companies continue to provide opportunities for positive total returns over the long term. Any material changes to the Fund’s investment objective and policy will be subject to Unitholder approval.
Full details of the Fund are set out in its latest Prospectus, which is available to view or download from our Literature Library.
Aberforth UK Small Companies Fund was constituted by a Trust Deed dated 17 December 1990 and is an authorised unit trust scheme under the Financial Services & Markets Act 2000.
The Fund is a UCITS scheme as defined by the Collective Investment Schemes Sourcebook.
| Event | Date |
|---|---|
| Interim Distribution record date | 28 June 2024 |
| Interim Distribution XD date | 1 July 2024 |
| Interim Report available | 6 August 2024 |
| Interim Distribution pay date | 31 August 2024 |
| Final Distribution record date | 31 December 2024 |
| Final Distribution XD date | 2 January 2025 |
| Annual Report available on Website | 4 February 2025 |
| Final Distribution pay date | 28 February 2025 |
| Identifier | Code |
|---|---|
| GIIN | 08086E.00001.SF.826 |
| LEI | 213800ONHC5DGL7RPF30 |
| Identifier | Accumulation units | Income units |
|---|---|---|
| SEDOL | 0007272 | B2N9GS7 |
| ISIN | GB0000072727 | GB00B2N9GS70 |
| MEXID | HIUKSC | HIUKSI |
| Bloomberg | ABEUKSA LN | ABEUKSI LN |
| Citicode | A109 | AXW0 |
The most recent Aberforth Unit Trust Managers Limited Assessment of Value Report delivered to the unitholders of Aberforth UK Small Companies Fund is available to view and download below.
The current report and the prior year report are also available from our Literature Library.
If you wish to make a complaint about any aspect of the service you have received, you can contact us by phone on 0131 220 0733, by email at enquiries@Aberforth.com or by writing to the following address:
FAO Compliance Officer
Aberforth Unit Trust Managers Limited
14 Melville Street
Edinburgh
EH3 7NS
We will endeavour to resolve all complaints at the earliest possible opportunity. If your complaint cannot be resolved within 3 business days, we will acknowledge the complaint promptly and in writing. We will include a copy of our Complaint handling process with our acknowledgement letter.
We will ensure that you are kept informed of the progress and measures taken to resolve your complaint.
By the end of 8 weeks after receipt of your complaint, we will send you either:
- A final response outlining the outcome of our investigation.
- A written response that explains why we are not in a position to make a final response and indicates when we expect to be able to provide one.
If your complaint
is not resolved by us to your satisfaction, you are entitled to refer it to the
Financial Ombudsman service, free of charge:
The Financial Ombudsman Service
Exchange Tower
London
E14 9SR
Telephone: 0800 023 4567
Website: www.financial-ombudsman.org.uk
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