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Standard Life UK Smaller Companies Trust NAV up 38.5 per cent

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Standard Life UK Smaller Companies Trust has reported an increase in its net asset value per share of 38.5 per cent to 154.04p for the year ended 30 June 2010.

Over the same period there was a 56.3 per cent rise in the total dividend per share to 2.50p compared to 1.60p in 2009.

Harry Nimmo, fund manager, Standard Life UK Smaller Companies Trust, says: “In the last year, the company strongly outperformed its benchmark with a rise in net asset value for the trust of 38.5 per cent compared to a rise of 24.4 per cent for the sector. Our high exposure to successful online business models was strongly beneficial with Asos, the online clothing retailer, up 153 per cent. Abcam, the world’s leading online antibody distributor continued to deliver on expectations and Rightmove, the online property company, forged ahead as advertising moved from the printed page to the internet.

“The trust particularly benefited from a very strong performance from SuperGroup, the owner of the Superdry clothing brand, while other areas of strength included our electronic and electrical holdings. In terms of sector exposure, the yrust remains heavy in software companies, healthcare, leading engineering and capital goods specialists, growth retailers and personal branded goods companies. The trust has only minimal exposure to government spending which is likely to be under pressure for years to come.”

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