28th Aug 2015 10:19
LONDON (Alliance News) - Aberdeen Smaller Companies High Income Trust PLC on Friday said it outperformed its benchmark in the first half as smaller companies defied market volatility.
The trust said its total return in the six months to the end of June was 15.8%, ahead of the 11.9% total return produced by its benchmark, the FTSE Small Cap Index (excluding Investment Companies).
The trust said the positive economic data coming from the UK has provided a generally positive backdrop for small companies, which outperformed larger peers as they took a hit from the turmoil surrounding Greece's potential default and is subsequent bailout referendum.
The fund said it has seen volatility increase in the first couple of months of the second half due to the economic situation in China but said that though smaller companies are not immune to this, the trust has minimal exposure to the region.
Shares in the trust were up 2.0% to 219.8 pence on Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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