Global Smaller Companies Trust PLC · LSE:GSCT
Global Smaller Companies Trust — The Global Smaller Companies Trust — Shareholder Meeting (2022)
17 slides from Global Smaller Companies Trust's shareholder meeting presentation, 2022
Slide 1: The Global Smaller Companies Trust plc Annual General Meeting 2022
WF_ 229372 The Global Smaller Companies Trust plc Annual General Meeting 2022 Peter Ewins – Lead Manager © 2022 Columbia Threadneedle Investments. Columbia Threadneedle Investments is the global brand name of the Columbia and Threadneedle group of companies For marketing purposes. In the UK: Issued
Slide 2: Investment risk
Investment risk The value of your investments and any income from them can go down as well as up and you may not get back the original amount invested. Investments in smaller companies carry a higher degree of risk as their shares may be less liquid and investment values can be volatile. An investme
Slide 3: Agenda
Agenda Results for 2021/22 Current portfolio structure and recent strategy Performance in new financial year to date and outlook 3
Slide 4: Financial highlights for the 2021/22 year
Financial highlights for the 2021/22 year NAV (debt at fair value) -0.2% Benchmark -3.2% Share price -6.4% Dividend per share +5.1% Geographical performance (total return sterling adjusted) 10% 7.8% 4.0% 4.4% 5.4% 5% Percentage (%) 0% -5% -3.5% -10% -7.4% -6.9% -8.3% -9.1% -15% -14.1% -20% -16.0% UK
Slide 5: Takeovers in 2021/22
Takeovers in 2021/22 Source: Columbia Threadneedle Investments. For illustrative purposes only. This does not constitute a recommendation to buy or sell any particular security. All intellectual property rights in the brands and logos set out in this slide are reserved by respective owners. 5
Slide 6: Performance record over the last five financial years
Performance record over the last five financial years Discrete performance %, 12 month rolling (GBP, net of fees, total returns) Apr-21/ Apr-20/ Apr-19/ Apr-18/ Apr-17/ Percentage growth, % Apr-22 Apr-21 Apr-20 Apr-19 Apr-18 NAV -0.2 48.0 -13.8 3.8 9.3 Share Price -6.4 54.0 -16.5 -1.0 9.0 Benchmark
Slide 7: Performance record over the long term
Performance record over the long term Performance %, over various periods (GBP, net of fees, total returns) Percentage growth, % 1 year 3 years 5 years 10 years 25 years NAV -0.2 27.3 44.4 221.1 1041.7 Share Price -6.4 20.4 29.9 195.2 1181.1 Benchmark -3.2 28.3 42.5 196.5 827.2 Source: Columbia Thre
Slide 8: Where the portfolio is invested as at 30 June 2022
Where the portfolio is invested as at 30 June 2022 Geographic analysis Sector analysis Telecommunications 3.3% Japan 7.4% Energy 2.4% Utilities 1.1% North America Real Estate Europe 10.5% 3.8% 44.1% Collective Consumer Investments Staples 5.9% 19.6% Basic Materials 6.8% Technology 8.2% Industrials 1
Slide 9: Key stock positions: North American portfolio
North American portfolio Key stock positions as at 30 June 2022 Top 10 absolute holdings (%) Portfolio weight Sector analysis (% relative to benchmark) LKQ Corp 3.5 Basic Materials 7.3% Eagle Materials 3.3 Consumer Staples 4.8% Alleghany 2.9 Industrials 3.9% Telecommunications 1.5% Kirby 2.9 Financi
Slide 10: Key stock positions: UK portfolio
UK portfolio Key stock positions as at 30 June 2022 Top 10 absolute holdings (%) Portfolio weight Sector analysis (% relative to benchmark) Euromoney Institutional Investor 4.8 Energean 3.6 Industrials 4.3% Health Care 3.8% Telecom Plus 3.3 Technology 1.8% Biffa 2.9 Telecommunications 1.8% OSB Group
Slide 11: Key stock positions: European portfolio
European portfolio Key stock positions as at 30 June 2022 Top 10 absolute holdings (%) Portfolio weight Sector analysis (% relative to benchmark) SIG Group 3.9 Technology 6.0% Ringkjoebing Landbobank 3.6 Consumer Staples 4.9% Lotus Bakeries 3.5 Industrials 2.5% Gerresheimer 3.3 Basic Materials 1.7%
Slide 12: Collectives for Japan and Rest of World
Collectives for Japan and Rest of World Holdings Portfolio weight %* Eastspring Investments Japan Smaller Companies Fund 3.6% Pineridge Asia ex Japan Small Cap Fund 3.1% Aberdeen Standard Japanese Sustainable Small Companies Fund 3.0% The Scottish Oriental Smaller Companies Trust 2.9% Utilico Emergi
Slide 13: Recent Portfolio Strategy
Recent Portfolio Strategy Taken UK Overweight to Reduced Overweight US, Increased focus Modest gearing weight down a Industrials, Technology and assessing a on balance level maintained little as takeover added to energy Consumer number of de- sheets and proceeds come services discretionary rated gro
Slide 14: Performance in the new financial year to date
Performance in the new financial year to date Net asset value ( debt at fair value ) -4.1% Benchmark -3.2% Share price -7.0% Source: Columbia Threadneedle Investments. Total returns in 22/23 financial year to 22 July 2022. 14
Slide 15: Outlook
Outlook A myriad of uncertainties around macro outlook, corporate earnings face squeeze with risk of recession as monetary policies are tightened. Change to a more inflationary world driving re-evaluation of individual stock outlooks and portfolio’s sector skew. Continuing corporate activity i
Slide 16: Disclaimer
Disclaimer © 2022 Columbia Threadneedle Investments. Columbia Threadneedle securities or any index on which such funds or securities are based. The prospectus Investments is the global brand name of the Columbia and Threadneedle group of contains a more detailed description of the limited relationsh
Slide 17: Contact Us
Contact Us Columbia Threadneedle Investments Primrose Street London EC2A 2NY Tel: +44 (0) 20 7628 8000 Calls may be recorded www.columbiathreadneedle.co.uk © 2022 Columbia Threadneedle Investments. Columbia Threadneedle Investments is the global brand name of the Columbia and Threadneedle group of c
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