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Home Prices and Markets

Montanaro UK Smaller Companies – Reputation restored

Following the return of Charles Montanaro as manager in 2016, Montanaro UK Smaller Companies Trust (MTU) has rebuilt its long-term record of outperformance of its benchmark over the last three and a half years. A strong uplift in net asset value (NAV) during the second half of 2019 (helped by some clarity on Brexit) has […]

Edward Marten by Edward Marten
2020-03-05 14:50
in Prices and Markets
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Following the return of Charles Montanaro as manager in 2016, Montanaro UK Smaller Companies Trust (MTU) has rebuilt its long-term record of outperformance of its benchmark over the last three and a half years. A strong uplift in net asset value (NAV) during the second half of 2019 (helped by some clarity on Brexit) has improved the trust’s standing against its competitors. Versus its peers, MTU ranked second ou tof 11 funds in our peer group during the second half of 2019 in terms of its NAV total return… Read more

Shareholders have also been rewarded by a marked reduction in the trust’s discount to NAV, although there may be more of this to come –MTU’s discount remains wider than its peer group. In an uncertain economic environment, the trust’s focus on quality companies should serve it well. The manager also notes that the qualities of the portfolio companies are often appreciated by bidders and expects last year’s strong M&A activity to continue this year, with UK assets attractively valued.

MTU aims to achieve capital appreciation through investing in small quoted companies listed on the London Stock Exchange or traded on AIM and to outperform its benchmark, the Numis Smaller Companies Index (excluding investment companies).

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NB: Marten & Co was paid to produce this note on Montanaro UK Smaller Companies Trust and it is for information purposes only. It is not intended to encourage the reader to deal in the security or securities mentioned in this report. Please read the important information at the back of this note. QuotedData is a trading name of Marten & Co Limited which is authorised and regulated by the FCA. Marten & Co is not permitted to provide investment advice to individual investors categorised as Retail Clients under the rules of the Financial Conduct Authority.

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