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abrdn UK Smaller Companies Class S - Income (GBP)

Sell:88.41p Buy:88.41p Change: 1.10p (1.26%)
Prices as at 22 November 2024
Sell:88.41p
Buy:88.41p
Change: 1.10p (1.26%)
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account
Invest now
Prices as at 22 November 2024
Sell:88.41p
Buy:88.41p
Change: 1.10p (1.26%)
Prices as at 22 November 2024
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account
Invest now
The selling price currently displayed is higher than the buying price. This can occur temporarily for a variety of reasons; shortly before the market opens, after the market closes or because of extraordinary price volatility during the trading day.

Our view on this Fund

This fund does not feature on the Wealth Shortlist of funds our analysts believe have the potential to outperform their peers over the long term. This is not a recommendation to sell; however, if you are thinking of adding to your investments, we believe the Wealth Shortlist is a good place to start. View funds on the Wealth Shortlist »

Harry Nimmo is an experienced UK smaller companies fund manager. Our analysis suggests he's skilled at picking higher-risk smaller companies with good prospects for growth. He doesn't buy or sell as much as many other managers. Instead he prefers to 'run his winners', staying invested if they grow into large companies. That makes it different from many other funds in the sector.

The fund is fairly large in size for a smaller companies fund, and the managers don't want to attract significant levels of new investment so they can keep it nimble. That's why we're not currently considering it for the Wealth Shortlist of funds chosen by our analysts for their long-term performance potential.

Our view on the sector

Smaller companies in the UK are among the most innovative and exciting around. They can be pioneers of an emerging industry, and adapt quickly to new opportunities. We think their long-term growth prospects are compelling. Some will blossom into the giants of tomorrow. But others will struggle or fail altogether, so they are higher risk. Unlike larger companies such as Tesco or Vodafone, which might have dozens of analysts poring over their accounts, smaller companies tend to be less researched. They might only have one or two analysts covering them which creates opportunities for eagle-eyed fund managers to spot hidden gems. Over the past decade, innovations such as the internet have allowed smaller companies to level the playing field with larger rivals. Even so, they tend to be more sensitive to the UK economy then larger companies so you should expect more ups and downs along the way. We think UK smaller companies could be a great addition to a diversified portfolio able to accept the increased volatility.

Performance Analysis

Harry Nimmo's run the fund since it launched in 1997. In that time he's built a very good track record, and has beaten the IA UK Smaller Companies sector average by a long way. He's had some of his best performance relative to the market when the market's been falling. But he's also done better when the market's been going up too. The fund can fall behind the market when it's rising rapidly though. This isn't an indication of how the fund will do in the future.

Investment Philosophy

The manager seeks long-term growth from small companies that've shown they're already successful. He's less interested in small companies with high future growth potential but are still unproven or aren't yet profitable.

Process and Portfolio Construction

Nimmo looks for companies with advantages over competitors, consistent sales, and long-term growth. He thinks these are good indicators of a company's prospects. He prefers companies either still run by its founders or where management have been in place for at least 10 years. He thinks this makes his fund different to most others.

As the fund is focused on long-term growth, the manager invests in companies that also have plans to keep growing well into the future. He normally doesn't sell an investment if it grows into a large company, preferring to stay invested if he thinks it'll keep growing.

He invests in a fairly small number of companies so each one can potentially make a big difference to performance, but it's a higher-risk approach. At the same time he'll ensure no company makes up more than 5% of the portfolio, so if a few companies have a tough time he hopes they won't drag down performance too much.

question mark Manager Track Record Based on HL Quantitative Research

  • abrdn UK Smaller Companies Fund...
  • IA UK Smaller Companies
FROM: TO:


Source: Refinitiv Lipper

Fund Track Record

22/11/19 to 22/11/20 22/11/20 to 22/11/21 22/11/21 to 22/11/22 22/11/22 to 22/11/23 22/11/23 to 22/11/24
Annual return 13.52% 25.58% -30.06% -13.74% 16.11%

Please remember past performance is not a guide to future returns. Where no data is shown, figures are not available. This information is provided to help you choose your own investments, remember they can fall as well as rise in value so you may not get back the original amount invested.

Fund Management Group Comment

Standard Life, headquartered in Edinburgh and a member of the FTSE 100 index, was established in 1825, and is a provider of long term savings and investments. In the 1990s the group sought to diversify its operations into areas to complement its core life assurance and pensions business. Standard Life Investments began to offer retail investment products to investors in 1995 with the launch of its mutual fund range, and now spans equities, bonds, real estate, multi-asset and absolute return.

While Standard Life has traditionally been well known for its fixed interest funds, it is now gaining recognition for its range of equity and absolute return funds.

Information about the fund

Fund manager biography

Manager Name: Amanda Yeaman
Manager start date: 24 June 2019
Manager located in: TBC

TBC

manager photo
Manager Name: Abby Glennie
Manager start date: 1 January 2016
Manager located in: TBC

Abby is responsible for the management of the UK Opportunities Fund, the Standard Life UK Smaller Companies Pension Fund and is joint manager of the Bothwell UK Equity Smaller Companies Fund. Abby joined Standard Life Investments' UK Equity Team (now Aberdeen Standard Investments) in February 2013 before joining the Smaller Companies Team in January 2016. Prior to this she worked at Kames Capital (previously Aegon Asset Management) where she was a Graduate Trainee Investment Manager. Her coverage over that period included a range of sectors such as Technology Hardware and Software, Food Retail, Small Cap Healthcare, Paper and Packaging and Online Gaming. Abby. Abby has 10 years of experience in the industry, four of which are at Standard Life Investments.

manager photo
Manager Name: Harry Nimmo
Manager start date: 19 August 2003
Manager located in: Edinburgh

Harry Nimmo graduated with an MBA from Edinburgh University in 1984 and joined Standard Life as an Investment Analyst with responsibility for UK equity funds in 1985. He became Senior Investment Analyst with sector responsibility for larger UK quoted company funds in 1990 and Investment Manager in 1993 responsible for the UK equity smaller (quoted) company funds. Harry became Fund Manager for the Standard Life Investments UK Smaller Companies Fund when it was launched in January 1997.

Data policy - All information should be used for indicative purposes only. You should independently check data before making any investment decision. HL cannot guarantee that the data is accurate or complete, and accepts no responsibility for how it may be used. Benchmark data provided subject to this disclaimer.
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account
Invest now