Strategic Equity Capital (Ordinary Share) SEC

UK Smaller Companies

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Estimated NAV (p)

179.00

Share Price (p)

165.81

Total Returns on £1000 over 

Fund / Benchmark Total returns(%)
Strategic Equity Capital (Ordinary Share) Price 146.73%
Strategic Equity Capital (Ordinary Share) NAV 106.67%
FTSE SmallCap (ex Inv Cos) 81.09%
Total Returns on £1000

Discount / Premium Movement

Discount / Premium Movement

Shares

Share Type Yesterday's
Closing Price
Discount / Premium Diluted NAV Gearing Dividend
Est Last
Ordinary Share 164.8p -8.1% 179.00p 178.00p
30 Sep
100% 0.47%

Discrete performance % over

Fund / BenchmarkNov '11
Oct '12
Nov '12
Oct '13
Nov '13
Oct '14
Strategic Equity Capital (Ordinary Share) Price36.3653.6517.76
Strategic Equity Capital (Ordinary Share) NAV31.4333.9117.43
FTSE SmallCap (ex Inv Cos)25.5547.49-2.21

Discrete performance over

Discrete Performance

Top 10 Holdings

e2v technologies PLC 12.65%
Tyman PLC 12.65%
Servelec Group 10.97%
4imprint Group Plc 8.95%
Wilmington Group Plc 8.84%
Emis Group Plc 8.17%
Net cash 8.17%
Allocate Software PLC 7.50%
Goals Soccer Centres PLC 7.39%
Gooch & Housego 6.04%

Sectors weighting

Smaller Companies 98.00%
Net Current Assets 2.00%

Regional weighting

UK 92.00%
Cash/Cash Equiv. 6.00%
Europe Developed ex-UK 2.00%
  • Investment trust info:

  • Sector UK Smaller Companies
  • Launch Date 19 Jul 2005
  • Base Currency GBX
  • Domicile UK
  • Share Price (p) 165.81
  • Share Type Ordinary Share
  • TIDM SEC
  • ISIN GB00B0BDCB21
  • Shares Issued (M) 57
  • Market Capital (£M) 94.20
  • Gross Assets (£M) 102.47
  • Net Assets (£M) 102.47
  • TER (%) 1.34
  • Historic Dividend Yield (%) 0.47
  • Next Dividend Date 16 Oct 2015
  • Next Dividend (p) 0.78
  • Last AGM 05 Nov 2013
  • Next AGM 14 Nov 2014
  • Last Annual Report Date 25 Sep 2014
  • Next due Report Date  
  • Next due Report Type I/R
  • Objective:

  • To achieve absolute returns for shareholders through a strategy of using private equity techniques and a practice of constructive corporate engagement.
  • Management Group(s):

  • GVO Investment Management Limited
  • SVG Investment Managers Limited
  • Managed by:

  • Jeff Harris Start: 01 May 2014
  • Stuart Widdowson Start: 30 Jun 2009
  • Management Contract & Fees:

    The basic fee should be the lower of: the basic fee as calculated under the current fee arrangements (that is, 1.0% p.a. of the net NAV of the Company, being the NAV less the aggregate of the value of the company's limited partnership Interest in Strategic Recovery Fund II and the amount of the Company's undrawn loan commitment to that fund from time to time) and 1.0% p.a. of the company's market capitalisation. The company's performance is measured over rolling three year periods ending on 30 June in each year, with the first Performance Period commencing on 01-Jul-08 and ending on 30-Jun-11. The company's performance will be measured by comparing the NAV total return per Share over a Performance Period against the total return performance of the FTSE SmallCap (ex. Investment Companies) Index, being the index against which the Board has historically compared the company's investment performance. If the NAV total return per Share (calculated before any accrual for any performance fee to be paid in respect of the relevant Proposed Performance Period) at the end of the relevant Proposed Performance Period exceeds both: (i) the NAV per Share at the beginning of the relevant Proposed Performance Period as adjusted by the aggregate amount of (a) the total return on the FTSE SmallCap (ex. Investment Companies) Index (expressed as a percentage) and (b) 2.0% p.a. over the relevant Proposed Performance Period and (ii) the High Watermark (which, until exceeded at the end of a Proposed Performance Period in respect of which the Investment Manager earns a performance fee, will remain at 118.82p) the Investment Manager will be entitled to 15% of the excess over the higher of the Benchmark NAV per Share and the High Watermark and payment of a performance fee that has been earned will be deferred to the extent that the amount payable exceeds 1.75% p.a. of the company's NAV at the end of the relevant Proposed Performance Period (amounts deferred will be payable when, and to the extent that, following any later Proposed Performance Period(s) with respect to which a performance fee is payable, it is possible to pay the deferred amounts without causing that cap to be exceeded or the relevant NAV total return per Share to fall below the relevant Benchmark NAV per Share and the relevant High Watermark).