BlackRock Smaller Companies

Last updated 27 December 2019

BRSC is well positioned for uncertain conditions with strong diversification across sectors and geographies…

Disclosure – Non-Independent Marketing Communication

This is a non-independent marketing communication commissioned by BlackRock Smaller Companies. The report has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on the dealing ahead of the dissemination of investment research.

BlackRock Smaller Companies

BlackRock Smaller Companies (BRSC) aims to grow capital over the long term through a portfolio of UK listed smaller companies. The trust has a strong long-term track record of outperformance, not only against its benchmark but also its open- and closed-ended peers in the UK Smaller Companies sector.

After more than 16 years at the helm of the portfolio, Mike Prentis made the decision to step down in June 2019, leaving co-manager Roland Arnold to take over the reins. Despite this, little has changed in the firm’s bottom-up investment process, and its core focus of finding growth companies with potential to become much larger. Since Roland has taken over, BRSC’s impressive track record has only continued, with the trust delivering strong returns in 2019.

The portfolio is one of the most diversified in the sector, with close to 130 stocks. The companies come from a wide range of sectors with diversified sources of revenue, and many of the holdings having an international element to these revenues.

Currently (as at 12/12/19) the trust is trading at a premium of 0.8%.

William Sobczak
William joined Kepler Partners in February 2018 as an investment trust analyst. Prior to joining, William graduated from the University of Western Australia, with a BSc in Psychology.

Fund History

Related Research

Key facts

Investment objective

Aims to achieve long-term capital growth for shareholders through investment mainly in smaller UK quoted companies

As at:

11/12/19

Trust Name

BlackRock Smaller Companies

Ticker

BRSC

Management Company

BlackRock Inc

Manager Name

Roland Arnold

Association of Investment Companies (AIC) Sector

UK Smaller Companies

12 Mo Yield

2.1%

Dividend Distribution Frequency

Semi-Annually

Latest Market Capitalisation

£749,797,543

Latest Net Gearing (Cum Fair)

4%

Latest Ongoing Charge Ex Perf Fee

0.70%

Turnover Ratio

41.0%

Shares Outstanding

47,879,792

(Discount)/ Premium (Cum Fair)

0.8%

Daily Closing Price

1566p

Source: Morningstar

Disclaimer

This report has been issued by Kepler Partners LLP.  The analyst who has prepared this report is aware that Kepler Partners LLP has a relationship with the company covered in this report and/or a conflict of interest which may impair the objectivity of the research.

Past performance is not a reliable indicator of future results. The value of investments can fall as well as rise and you may get back less than you invested when you decide to sell your investments. It is strongly recommended that if you are a private investor independent financial advice should be taken before making any investment or financial decision.

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