Edison issues research review on Standard Life UK Smaller Companies
ОРЕАНДА-НОВОСТИ. Standard Life UK Smaller Companies (SLS) is an actively managed UK small- and mid-cap focused trust with a quality-biased portfolio. Manager Harry Nimmo has followed a consistent approach to stock selection since taking responsibility for the portfolio in 2003, seeking companies with resilient business models and the potential to deliver sustainable growth. SLS's NAV total return has been ahead of its benchmark over one, three and 10 years, with notably strong outperformance over the last 12 months against the background of a decline in the broader UK market. Recent market volatility has pushed the discount towards the recently introduced 8% target level for the share buyback policy.
SLS's share price discount to NAV has widened in 2016 and seen increased volatility following the UK's EU referendum. The current discount is wider than its three-year average, suggesting scope for narrowing as favourable performance is re-established, and is supported by the recently tightened share buyback policy.
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