Report

Scottish Oriental Smaller Companies - Asian small-cap specialist, unloved asset class

Scottish Oriental Smaller Companies Trust (SST) aims to deliver long-term capital growth from investing in smaller companies listed in Asia ex-Japan. The investment approach is bottom-up to find quality companies with sustainable growth that are reasonably valued. Unconstrained by the benchmark, the well-diversified portfolio of c 60 stocks represents the manager’s highest-conviction ideas, with a preference for domestically oriented businesses in less-developed economies, which can benefit from structural growth drivers. SST has a strong, long-term performance track record and over 10 years has delivered an annualised NAV total return of 18.5%. The trust’s current 14.9% discount to cum-income NAV is deeper than its three-year average, in part reflecting a more risk-averse market sentiment. There is scope for this discount to narrow should sentiment towards Asian equities, and small-caps in particular, improve.
Underlying
Scottish Oriental Smaller Companies Trust PLC

Scottish Oriental Smaller Companies Trust is an investment trust. Co. invests mainly in the shares of smaller Asian quoted companies. For investment purposes, the investment region includes China, Hong Kong, India, Indonesia, Malaysia, Pakistan, Philippines, Singapore, South Korea, Sri Lanka, Taiwan, Thailand and Vietnam. As of Aug 31 2017, Co.'s investment portfolio totaled £338.4 million.

Provider
Edison Investment Research
Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts
Helena Coles

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