BlackRock Smaller Companies Trust Plc - Portfolio Update
The information contained in this release was correct as at
https://www.londonstockexchange.com/exchange/news/market-news/market-news-home.html .
All information is at
Performance at month end is calculated on a Total Return basis based on NAV per share with debt at fair value
One month Three months One Three Five
% % year years years
% % %
Net asset value 6.8 10.5 18.5 -13.8 28.7
Share price 10.2 15.5 27.6 -14.0 29.8
Benchmark* 5.9 9.1 13.2 -9.3 24.5
Sources: BlackRock and Deutsche Numis
*With effect from
At month end
Net asset value Capital only (debt at par value): 1,645.39p Net asset value Capital only (debt at fair value): 1,696.10p Net asset value incl. Income (debt at par value)1: 1,668.72p Net asset value incl. Income (debt at fair value)1: 1,719.43p Share price: 1,600.00p Discount to Cum Income NAV (debt at par value): 4.1% Discount to Cum Income NAV (debt at fair value): 6.9% Net yield2: 2.6% Gross assets3: £855.5m Gearing range as a % of net assets: 0-15% Net gearing including income (debt at par): 10.6% Ongoing charges ratio (actual)4: 0.7% Ordinary shares in issue5: 47,099,792
1. Includes net revenue of 23.33p
2. Yield calculations are based on dividends announced in the last 12 months
as at the date of release of this announcement and comprise the Interim
dividend of 15.00 pence per share (announced on 26 October 2023 , ex-date on
02 November 2023 , and paid 04 December 2023 ) and the final dividend of
27.00 pence per share (announced on 14 May 2024 , ex-date on 23 May 2024 ,
and paid 24 June 2024 ).
3. Includes current year revenue.
4. The Company’s ongoing charges are calculated as a percentage of average
daily net assets and using the management fee and all other operating
expenses excluding finance costs, direct transaction costs, custody
transaction charges, VAT recovered, taxation and certain non-recurring
items for year ended 28 February 2023 .
5. Excludes 2,893,731 ordinary shares held in treasury.
Sector Weightings % of portfolio
Industrials 30.0
Financials 19.7
Consumer Discretionary 16.4
Basic Materials 12.9
Technology 6.2
Consumer Staples 3.2
Real Estate 2.9
Health Care 2.7
Telecommunications 2.6
Communication Services 1.9
Energy 1.5
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Total 100.0
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Country Weightings % of portfolio
United Kingdom 98.6
United States 1.4
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Total 100.0
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Ten Largest Equity Investments % of portfolio Company Hill & Smith 2.8 Gamma Communications 2.6 Workspace Group 2.5 IntegraFin 2.5 Breedon 2.3 Chemring Group 2.2 Bloomsbury Publishing 2.1 Baltic Classifieds Group 2.0 4imprint Group 1.9 Tatton Asset Management 1.9
Commenting on the markets,
During July the Company’s NAV per share rose by 6.8% to 1,719.43p on a total return basis, while our benchmark index returned 5.9%. For comparison the large cap
The
The largest positive contributor during the month was Bloomsbury Publishing which reported strong Q2 performance, which was in line with recently upgraded guidance. Notable bestsellers from
Recruiter
In summary, and as we have highlighted for a long period of time now, the current valuation of the
As ever, we remain focused on the micro, industry level change and stock specific analysis and the opportunities we are seeing today in our universe are as exciting as ever. Historically, periods of heightened volatility have been followed by strong returns for the strategy and presented excellent investment opportunities.
We thank shareholders for your ongoing support.
1
Source: BlackRock as at
ENDS
Latest information is available by typing www.blackrock.com/uk/brsc on the internet, "BLRKINDEX" on Reuters, "BLRK" on Bloomberg or "8800" on Topic 3 (ICV terminal). Neither the contents of the Manager’s website nor the contents of any website accessible from hyperlinks on the Manager’s website (or any other website) is incorporated into, or forms part of, this announcement.
