Aberforth Smaller Companies Trust has announced that it has renewed its existing unsecured £125 million Revolving Debt Facility with The Royal Bank of Scotland plc for a further three years. The facility bears interest at 0.80 per cent over LIBOR and is due to expire on 15 June 2020.
Aberforth Smaller Companies is the largest trust within the UK Smaller Company sector. It aims to achieve a net asset value total return (with dividends reinvested) greater than the return on the Numis Smaller Companies Index (Excluding Investment Companies) over the long term by investing in a diversified portfolio of small UK quoted companies. The portfolio is diversified and will normally consist of investments in over 80 individual companies. In seeking investments the approach will be fundamental in nature involving regular contact with the management of prospective and existing investments in conjunction with rigorous financial analysis of these companies. The emphasis within the portfolio will reflect the desire to invest in companies whose shares represent relatively attractive value within a given stockmarket environment. Aberforth are value investors who buy shares in companies that they calculate to be selling below their intrinsic value. This is determined through detailed financial and industrial analysis, combined with a valuation approach that focuses on both stockmarket and corporate worth.
Aberforth Smaller Companies Trust renews £125m unsecured revolving debt facility : ASL