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
767.00p
As of 18/09/2020

Estimated NAV
894.57p
As of 18/09/2020

Discount / Premium
-14.26%
As of 18/09/2020

Yield
3.13%
As of 18/09/2020

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Morningstar ratings are based on the representative share class of this fund and are dated to the last month-end upon availability from Morningstar.

Overview

2020 Annual General Meeting

Our AGM this year will be held on Monday 21 September at 4.00 pm.

In light of the ongoing Covid-19 pandemic and with a view to making the AGM as safe and accessible for shareholders as possible, you are invited to attend the 2020 AGM using the conferencing software Zoom. This will allow you to be present for the usual presentation from our Fund Manager, Neil Hermon, and will enable you to ask questions and engage with your Fund Manager and Board.

Due to technological restrictions, voting will be conducted on a poll among the directors in respect of their shareholdings (rather than on a show of hands), with the Chairman holding the proxy votes. As there can be no live voting at the meeting, we request all shareholders to submit their votes by proxy to ensure that their vote counts at the AGM, ahead of the deadline of 4.00 pm on Thursday 17 September 2020.

To attend the AGM, please register in advance at this link, entering your details. You will then receive your invitation to the webinar.

Please see the Notice of AGM and proxy form for further information. If shareholders would like to submit any questions in advance of the AGM, they are welcome to send these to the corporate secretary at itsecretariat@janushenderson.com.

INVESTMENT OBJECTIVE

To maximise shareholder total returns by investing mainly in smaller companies 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 two 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 is not a guide to future performance. 
 

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 Our Investment Trust Insights

ANNOUNCEMENTS

View the latest announcements for this Trust:

London Stock Exchange

FREQUENTLY ASKED QUESTIONS

PORTFOLIO MANAGEMENT

Neil Hermon

Neil Hermon

Director of UK Equities | Portfolio Manager

Industry since 1989. Joined Firm in 2002.

Performance

Past performance is not a guide to future performance. Performance is shown based on the Share Price and does not include income reinvested.
Discrete Performance (%)
As of 30/06/2020
Net Asset Value Price (ORD) (ORD)
 
Quarter End
As of 30/06/2020 		2019/2020 2018/2019 2017/2018 2016/2017 2015/2016
Net Asset Value 19.14% 5.54% 10.31% 7.30% -7.66%
Price 12.20% 2.90% 14.20% 9.10% -6.20%
© Morningstar 2020. All rights reserved. The Price and Net Asset Value total returns.
Cumulative Performance (%)
As of 18/09/2020
Net Asset Value Price
 
As of 18/09/2020 1MO 3MO YTD 1YR 3YR 5YR 10YR
Net Asset Value 0.34% 4.44% -16.74% -2.93% 4.86% 38.76% 252.31%
Price -2.36% -1.75% -27.82% -5.95% 6.56% 30.30% 268.40%
© Morningstar 2020. All rights reserved. The Price and Net Asset Value total returns.
DIVIDENDS
Ex Dividend Date Pay Date Amount div p/ps
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
01-Sep-16 30-Sep-16 11.00
11-Feb-16 04-Mar-16 4.00
17-Sep-15 09-Oct-15 10.00
12-Feb-15 06-Mar-15 3.50

Portfolio

Top Holdings (As of 31/08/2020)
% of Fund
Team17 Group 2.66
Bellway 2.61
Learning Technologies Group 2.29
Ultra Electronics 2.23
Gamma Communications 2.22
Oxford Instruments 2.15
Avon Rubber 2.08
Renishaw 2.06
Clinigen Group 2.06
Impax Asset Management Group 2.01
View full holdings
Sector Allocation % OF FUND % OF FUND (As of 31/08/2020)
Industrials 34.81
Financials 19.32
Consumer Services 12.20
Consumer Goods 11.79
Technology 8.18
Health Care 5.57
Basic Materials 3.20
Oil & Gas 2.72
Telecommunications 2.22

Documents

Document View
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 2015
The Henderson Smaller Companies Investment Trust plc - Annual Report 2016
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 plc - Annual Report 2012
The Henderson Smaller Companies Investment Trust plc - Annual Report 2011
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 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 2020
How to Invest
The Henderson Smaller Companies Investment Trust plc - Notice of Meeting 2020
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 - Articles of Association
The Henderson Smaller Companies Investment Trust plc - Proxy Form 2020
The Henderson Smaller Companies Investment Trust plc - Proxy Form 2020
The Henderson Smaller Companies Investment Trust plc - Proxy Votes 2019
The Henderson Smaller Companies Investment Trust plc - Proxy Form 2019
The Henderson Smaller Companies Investment Trust plc - Terms of Reference of the Audit Committee
The Henderson Smaller Companies Investment Trust plc - Role of Senior Independent Director
The Henderson Smaller Companies Investment Trust plc - Role of the Chairman
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

Related Insights

Our intellectual capital is readily available and central to our Knowledge Shared approach"
Related Insights
Manager update on Henderson Smaller Companies
March 2020

Manager update on Henderson Smaller Companies

Neil Hermon, Fund Manager of Henderson Smaller Companies, delivers an update on how the Trust has fared in the opening months of the year.

Read More

Optimistic outlook for the UK economy
January 2020

Optimistic outlook for the UK economy

Neil Hermon, fund manager for Henderson Smaller Companies Trust, discusses the Trust’s “excellent” performance in 2019

Watch Now

UK balance sheets remain robust
September 2019

UK balance sheets remain robust

  Despite the persistent uncertainty hanging over UK companies, balance sheets look robust and lessons have been learned since the last financial crisis, says Neil Hermon, Fund Manager of Henderson Smaller Companies Investment Trust. Transcript Q: What can you tell us about your activity regarding The Henderson Smaller Companies Investment Trust portfolio over the summer

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  • ​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 is not a guide to future performance.
  • 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.
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