Disclaimer
This is a non-independent marketing communication commissioned by BlackRock. The report has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on the dealing ahead of the dissemination of investment research.
In this episode of Trust Issues, we speak to Nicholas Todd, one of our Kepler Trust Intelligence analysts, about investing in UK small-caps and what BlackRock Smaller Companies (BRSC) offers investors looking for exposure to UK equities.
0:00 Risk warning
0:47 Introduction
1:06 Overview of trust and investable universe
3:04 What are the benefits of a closed-ended structure?
4:34 How has the trust performed?
6:21 What investment attributes does BRSC look for?
8:29 Could you talk us through the current portfolio?
12:15 What factors have been weighing on UK small-cap valuations?
13:27 Why have small-caps outperformed large-caps over time?
15:22 Has M&A activity been a tailwind for returns?
18:16 How has the discount changed over the last year?
19:48 What does BRSC offer for income-seeking investors?
20:47 What is the outlook for UK small-caps over the next year?