BLACKROCK SMALLER COMPANIES TRUST PLC All information is at 31 July 2013 and unaudited. Performance at month end is calculated on a capital only basis One Three One Three Five Month Months Year Years Years Net asset value 7.7% 8.3% 37.3% 84.3% 103.6% Share price 8.8% 11.1% 44.0% 99.9% 122.5% Numis ex Inv Companies + AIM 6.5% 5.9% 27.8% 41.5% 48.8% Sources: BlackRock and Datastream At month end Net asset value Capital only (debt at par value): 781.90p Net asset value Capital only (debt at fair value): 776.87p Net asset value incl. Income (debt at par value)**: 790.37p Net asset value incl. Income (debt at fair value)**: 785.33p Share price: 695.25p Discount to Cum Income NAV (debt at par value): 12.0% Discount to Cum Income NAV (debt at fair value): 11.5% Net yield^^^: 1.4% Total assets^: £414.3m Gearing range as a % of total assets: 0-15% Net gearing including income (debt at par): 9.5% 2013 Ongoing charges ratio^^: 0.6% Ordinary shares in issue#: 47,879,792 *performance calculations based on a capital only NAV with debt at par, without income reinvested. Share price performance calculations exclude income reinvestment. **includes net revenue of 8.47p ^includes current year revenue ^^As reported in the Annual Financial Statements for the year ended 28 February 2013, the ongoing charges ratio is calculated as a percentage of net assets and using operating expenses, excluding performance fees, finance costs and taxation. ^^^Yield calculations are based on dividends announced in the last 12 months as at the date of release of this announcement, and comprise the final dividend of 6.50 pence per share (announced on 26 April 2013 and going ex-dividend on 29 May 2013) and the interim dividend of 3.50 pence per share, paid on 7 December 2012. #excludes 2,113,731 shares held in treasury Sector Weightings % of portfolio Industrials 23.7 Consumer Services 21.3 Financials 18.6 Consumer Goods 9.6 Technology 8.7 Health Care 6.7 Basic Materials 5.9 Oil & Gas 4.0 Telecommunications Services 1.5 ----- Total 100.0 ===== Ten Largest Equity Investments Company Total Market Value % Bellway 2.4 Howden Joinery 2.2 Workspace 2.1 Booker Group 1.9 Dunelm Group 1.9 Senior 1.8 Ashtead 1.8 Restaurant Group 1.7 ITE Group 1.6 Xaar 1.6 Commenting on the markets, Mike Prentis, representing the Investment Manager noted: During July the Company's NAV per share rose by 7.7% on a capital only basis. The benchmark index rose by 6.5% whilst the FTSE 100 Index also rose by 6.5%; again both on a capital only basis. Markets rebounded from the weaker tone seen in June as confidence grew that the US Federal Reserve is unlikely to taper bond purchases until they are satisfied that economic growth is clearly sustainable. Markets probably also took some comfort that the Chinese Government appears committed to an economic growth rate of about 7%. The relative contribution from stock selection was positive, as was the contribution from gearing, which remains in the 9 - 10% range. Contribution from sector allocation was also slightly positive. No single stock contributed to, or detracted from, relative performance by more than 20 basis points during the month. On the positive side the best contributors were Workspace, LSL Property Services and Blinkx. On the negative side the largest contributors were ITE Group and Consort Medical, although newsflow from these companies remained positive during the month. Activity during the month was limited. We added small holdings in Speedy Hire and Grainger, both companies we have owned before, and both largely focused on the UK economy. 16 August 2013 ENDS Latest information is available by typing www.blackrock.co.uk/brscon 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. END -0- Aug/16/2013 13:10 GMT
BLACKROCK SMALLER COMPANIES TRUST PLC: Portfolio Update
Press spacebar to pause and continue. Press esc to stop.