For individual investors in the UK

HSL The Henderson Smaller Companies Investment Trust plc

Consistent outperformer against benchmark and large-cap rivals, the Trust seeks capital growth through medium and small UK companies

ISIN
GB0009065060

Share price
907.00p
As of 11 Aug 2022

Estimated NAV
1,042.95p
As of 11 Aug 2022

Discount / Premium
-13.03%
As of 11 Aug 2022

Yield
2.65%
As of 11 Aug 2022

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Overview

2022 Annual General Meeting

We are pleased to invite you to attend The Henderson Smaller Companies Investment Trust plc’s 2022 Annual General Meeting, taking place at 11:30am on Friday 30 September 2022.
 
A physical meeting is planned and you are invited to attend in person at the registered office, 201 Bishopsgate, London EC2M 3AE. Those who are unable to travel are welcome to join virtually by Zoom. If you wish to join the AGM by Zoom, please register here in advance, entering your shareholder details. We encourage shareholders to attend for the opportunity to meet the Board and the Fund Manager, Neil Hermon, who will give a presentation reviewing the year and looking forward to the year ahead, and to ask questions and debate with Neil and the Board.
 
As is our normal practice, there will be live voting for those physically present at the AGM. We are not able to offer live voting virtually, and we therefore request all shareholders, and particularly those who cannot attend physically, to submit their votes by proxy, ahead of the deadline of 28 September 2022, to ensure that their vote counts at the AGM. Please see the Notice of AGM and proxy form for further information within the Documents section listed below. If you would like to submit any questions in advance of the AGM, you are welcome to send these to our corporate secretary at itsecretariat@janushenderson.com.

INVESTMENT OBJECTIVE

The Company aims to maximise shareholders’ total returns (capital and income) by investing in smaller companies that are quoted in the United Kingdom.

The value of an investment and the income from it can fall as well as rise as a result of market and currency fluctuations and you may not get back the amount originally invested. Potential investors must read the latest annual report and where relevant, the key investor information document before investing. This website is for promotional purposes and does not qualify as an investment recommendation.

ABOUT THIS TRUST

  • Looks for quality growth companies but will only invest at a reasonable price
  • Outperformed the Numis Smaller Companies Index in all but three years since Neil’s appointment in 2002
  • Disciplined management team that abides by a strict checklist to increase the likelihood of good performance
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Past performance does not predict future returns. 
 

LATEST INSIGHTS

Knowledge Shared

At Janus Henderson, we believe in the sharing of expert insight for better investment and business decisions. We call this ethos Knowledge Shared.

View more Henderson Smaller Companies Investment Trust insights

ANNOUNCEMENTS

View the latest announcements for this Trust:

London Stock Exchange

FREQUENTLY ASKED QUESTIONS

Source: Morningstar. Ratings updated quarterly.

PORTFOLIO MANAGEMENT

Neil Hermon

Neil Hermon

Director of UK Equities | Portfolio Manager

Industry since 1989. Joined Firm in 2002.

Performance

Past performance does not predict future returns.
Discrete Performance (%)
As of 30 Jun 2022
Net Asset Value Price
 
Quarter End
As of 30 Jun 2022 		2021/2022 2020/2021 2019/2020 2018/2019 2017/2018
Net Asset Value -26.59 58.99 -9.61 -5.42 18.70
Price -33.61 64.60 -7.73 -8.55 28.59
Note that any differences among portfolio securities currencies, share class currencies and costs to be paid or represented in currencies other than your home currency will expose you to currency risk.  Costs and returns may increase or decrease as a result of currency and exchange rate fluctuations.
Fund charges will impact the value of your investment. In particular, the ongoing charges applicable to each fund will dilute investment performance, particularly over time.
© Morningstar 2022. All rights reserved. The Price and Net Asset Value total returns.
Cumulative Performance (%)
As of 31 Jul 2022
NAV (Net) Price (Net)
 
As of 31 Jul 2022 1MO 3MO YTD 1YR 3YR 5YR 10YR
NAV (Net) 9.45 -4.45 -23.57 -23.22 17.11 24.02 227.21
Price (Net) 12.62 -3.29 -25.80 -27.45 15.98 31.07 276.14
Note that any differences among portfolio securities currencies, share class currencies and costs to be paid or represented in currencies other than your home currency will expose you to currency risk.  Costs and returns may increase or decrease as a result of currency and exchange rate fluctuations.
Fund charges will impact the value of your investment. In particular, the ongoing charges applicable to each fund will dilute investment performance, particularly over time.
© Morningstar 2022. All rights reserved. The Price and Net Asset Value total returns.
DIVIDENDS
Ex Dividend Date Pay Date Amount div p/ps
25-Aug-22 10-Oct-22 17.00
10-Feb-22 07-Mar-22 7.00
26-Aug-21 11-Oct-21 16.75
11-Feb-21 09-Mar-21 7.00
27-Aug-20 12-Oct-20 16.50
13-Feb-20 09-Mar-20 7.00
08-Aug-19 08-Oct-19 16.50
14-Feb-19 08-Mar-19 6.50
30-Aug-18 28-Sep-18 15.00
15-Feb-18 09-Mar-18 6.00
07-Sep-17 09-Oct-17 13.00
16-Feb-17 10-Mar-17 5.00

Portfolio

Top Holdings (As of 30 Jun 2022)
% of Fund
Oxford Instruments 2.62
Future 2.53
Bellway 2.38
Impax Asset Management Group 2.38
Euromoney Institutional Investor 2.36
OSB Group 2.34
Paragon Banking Group 2.22
Watches of Switzerland Group 1.92
Balfour Beatty 1.84
Learning Technologies Group 1.77
View full holdings
References made to individual securities should not constitute or form part of any offer or solicitation to issue, sell, subscribe or purchase. Holdings are subject to change without notice.
Sector Allocation % OF FUND % OF FUND (As of 30 Jun 2022)

Documents

Document View
The Henderson Smaller Companies Investment Trust plc - ESG Approach
The Henderson Smaller Companies Investment Trust plc - A decade of outperformance
The Henderson Smaller Companies Investment Trust plc – EY LLP Statement of Circumstances
The Henderson Smaller Companies Investment Trust plc - Investment Objective & Policy
The Henderson Smaller Companies Investment Trust plc – Annual Report 2022
The Henderson Smaller Companies Investment Trust plc – Annual Report 2021
The Henderson Smaller Companies Investment Trust plc - Annual Report 2020
The Henderson Smaller Companies Investment Trust plc - Annual Report 2019
The Henderson Smaller Companies Investment Trust plc - Annual Report 2018
The Henderson Smaller Companies Investment Trust plc - Annual Report 2017
The Henderson Smaller Companies Investment Trust plc - Annual Report 2016
The Henderson Smaller Companies Investment Trust plc - Annual Report 2015
The Henderson Smaller Companies Investment Trust plc - Annual Report 2014
The Henderson Smaller Companies Investment Trust plc - Annual Report 2013
The Henderson Smaller Companies Investment Trust - Q2 2022 Commentary
The Henderson Smaller Companies Investment Trust plc - Factsheet
The Henderson Smaller Companies Investment Trust plc - Portfolio Disclosure
The Henderson Smaller Companies Investment Trust plc - Half Year Report 2021
The Henderson Smaller Companies Investment Trust plc - Half Year Report 2020
The Henderson Smaller Companies Investment Trust plc - Half Year Report 2019
The Henderson Smaller Companies Investment Trust plc - Half Year Report 2018
The Henderson Smaller Companies Investment Trust plc - Half Year Report 2017
The Henderson Smaller Companies Investment Trust plc - Half Year Report 2016
The Henderson Smaller Companies Investment Trust plc - Half Year Report 2015
The Henderson Smaller Companies Investment Trust plc - Half Year Report 2014
The Henderson Smaller Companies Investment Trust plc - Half Year Report 2013
The Henderson Smaller Companies Investment Trust plc - Half Year Report 2012
The Henderson Smaller Companies Investment Trust plc - Half Year Update 2021
The Henderson Smaller Companies Investment Trust plc - Notice of Meeting 2022
The Henderson Smaller Companies Investment Trust plc - Key Information Document
The Henderson Smaller Companies Investment Trust plc - AIFMD Disclosure
The Henderson Smaller Companies Investment Trust plc – Proxy Form 2022
The Henderson Smaller Companies Investment Trust plc - Proxy Votes 2021
The Henderson Smaller Companies Investment Trust plc - Proxy Form 2021
The Henderson Smaller Companies Investment Trust plc - Proxy Votes 2020
The Henderson Smaller Companies Investment Trust plc - Terms of Reference of the Management Engagement Committee
The Henderson Smaller Companies Investment Trust plc - Terms of Reference of the Nomination Committee
The Henderson Smaller Companies Investment Trust plc - Schedule of Matters Reserved for the Board
The Henderson Smaller Companies Investment Trust plc - Terms of Reference of the Audit & Risk Committee

Related Insights

Our intellectual capital is readily available and central to our Knowledge Shared approach"
Related Insights
Where next for UK small caps
18 Jul 2022
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Where next for UK small caps

Neil Hermon, Portfolio Manager of The Henderson Smaller Companies Investment Trust talks about the performance of UK small caps year-to-date, areas where he is finding opportunities, risks to the UK market, and his approach to ESG.

3 min listen

Henderson Smaller Companies Investment Trust Fund Manager Commentary – Q2 2022
15 Jul 2022
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Henderson Smaller Companies Investment Trust Fund Manager Commentary – Q2 2022

Neil Hermon, Portfolio Manager of The Henderson Smaller Companies Investment Trust, provides an update on the Trust highlighting the key drivers of performance over the quarter, areas where he finding opportunities, and provides his outlook for UK stocks in the coming months.

3 min read

Henderson Smaller Companies Investment Trust: Edison research June 2022
6 Jul 2022
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Henderson Smaller Companies Investment Trust: Edison research June 2022

Recently commissioned research from Edison explores why the Henderson Smaller Companies Investment Trust is a compelling option for UK small and mid-caps.

10 min read

  • ​The value of the Funds and the income from them is not guaranteed and may fall as well as rise. You may get back less than you originally invested.
  • ​Past performance does not predict future returns
  • Third party data is believed to be reliable, but its completeness and accuracy is not guaranteed.
  • If a trust's portfolio is concentrated towards a particular country or geographical region, the investment carries greater risk than a portfolio diversified across more countries.
  • Most of the investments in this portfolio are in smaller companies shares. They may be more difficult to buy and sell and their share price may fluctuate more than that of larger companies.
  • This trust is suitable to be used as one component in several in a diversified investment portfolio. Investors should consider carefully the proportion of their portfolio invested into this trust.
  • Active management techniques that have worked well in normal market conditions could prove ineffective or detrimental at other times.
  • The trust could lose money if a counterparty with which it trades becomes unwilling or unable to meet its obligations to the trust.
  • Shares can lose value rapidly, and typically involve higher risks than bonds or money market instruments. The value of your investment may fall as a result.
  • The return on your investment is directly related to the prevailing market price of the trust’s shares, which will trade at a varying discount (or premium) relative to the value of the underlying assets of the trust. As a result losses (or gains) may be higher or lower than those of the trust’s assets.
  • The trust may use gearing as part of its investment strategy. If the trust utilises its ability to gear, the profits and losses incured by the trust can be greater than those of a trust that does not use gearing.
  • Derivatives use exposes the trust to risks different from, and potentially greater than, the risks associated with investing directly in securities and may therefore result in additional loss, which could be significantly greater than the cost of the derivative.
  • The Company confirms that it currently conducts its affairs so that its ordinary shares of 25p each can be recommended by IFAs to ordinary retail investors in accordance with the Financial Conduct Authority’s (FCA) rules in relation to non-mainstream investment products and intends to continue to do so for the foreseeable future.
  • The shares are excluded from the FCA’s restrictions which apply to non-mainstream investment products because they are shares in an investment trust.
  • For detailed product information including the risks associated with investing please read the relevant Prospectus or Annual Report. Please refer to the AIFMD Disclosure document and Annual Report of the AIF before making any final investment decisions.