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
851.00p
As of 20/05/2022

Estimated NAV
1,035.50p
As of 20/05/2022

Discount / Premium
-17.82%
As of 20/05/2022

Yield
2.79%
As of 20/05/2022

Buy via interactive investor Buy via AJ Bell Youinvest

Overview

INVESTMENT OBJECTIVE

To maximise shareholder total returns by investing 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 does not predict future returns. 
 

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.

Indriatti van Hien, ACA, CFA

Indriatti van Hien, ACA, CFA

Portfolio Manager, UK Equities

Industry since 2007. Joined Firm in 2011.

Performance

Past performance does not predict future returns.
Discrete Performance (%)
As of 31/03/2022
Net Asset Value Price
 
Quarter End
As of 31/03/2022 		2021/2022 2020/2021 2019/2020 2018/2019 2017/2018
Net Asset Value -3.79 71.71 -19.93 -1.15 15.46
Price -12.94 73.92 -15.39 1.51 22.84
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 30/04/2022
NAV (Net) Price (Net)
 
As of 30/04/2022 1MO 3MO YTD 1YR 3YR 5YR 10YR
NAV (Net) -3.59 -11.32 -20.01 -14.24 18.33 36.55 234.15
Price (Net) -5.71 -15.91 -23.27 -22.43 12.97 43.89 272.77
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
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
01-Sep-16 30-Sep-16 11.00

Portfolio

Top Holdings (As of 30/04/2022)
% of Fund
Impax Asset Management Group 2.85
Future 2.75
Oxford Instruments 2.73
OSB Group 2.39
Bellway 2.38
Ultra Electronics 2.28
Watches of Switzerland Group 2.23
Paragon Banking Group 1.98
RWS 1.82
Mitchells & Butlers 1.81
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 30/04/2022)

Documents

Document View
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 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 plc - Annual Report 2012
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 2021
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 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
Exploring big opportunities in small-cap stocks
February 2022

Exploring big opportunities in small-cap stocks

Though markets have been on tear over the last decade, there’s certainly been plenty of volatility for investors to endure: the European debt crisis, Brexit, US/China trade war, and the coronavirus pandemic. Underneath the surface, the debate over small cap versus large cap stocks has raged on. This paper will explore the pros and cons of investing in small-to-mid-cap stocks and how The Henderson Smaller Companies Investment Trust’s approach has enabled it to generate exceptional long-term returns within the small cap space.

Read More

Why consistency matters
November 2021

Why consistency matters

Despite an eventful decade that has proved unsettling for markets, The Henderson Smaller Companies Investment Trust has consistently outperformed its benchmark by looking through the noise and sticking to its tried and tested investment process. In this article, Neil Hermon, Portfolio Manager of the Henderson Smaller Companies Investment Trust, explores moments that have defined the decade in Europe and reveals the ‘secret sauce’ to the Trust’s long-term outperformance.

5 min read

A disciplined approach to long-term investing
October 2021

A disciplined approach to long-term investing

In this video, Neil Hermon, Portfolio Manager of the Henderson Smaller Companies Investment Trust, provides an update on the Trust highlighting the key drivers behind the consistent level of outperformance, areas where he is finding opportunities, and the factors currently driving market uncertainty.

Watch Now

  • ​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.