Standard Life UK Smaller Companies (SLS) is managed by Harry Nimmo and Abby Glennie at Aberdeen Standard Investments (ASI). They are positive on the outlook for UK small-cap stocks given the start of a new economic cycle. The managers are encouraged that several investee companies are issuing positive trading statements and reinstating their dividends, and while valuation is a secondary consideration they note that several of the trust's holdings are currently trading on inexpensive valuation multiples. The managers explain that while SLS historically underperforms during periods of what they describe as 'dash for trash' when its quality, growth and momentum-focused stocks are less favoured by investors, these periods tend not to last long, and they are confident in the investment process's ability to deliver above-average returns over the long term.Den vollständigen Artikel lesen ...