Company: The Henderson Smaller Companies Investment Trust plc (HSL)
Date: 5th December 2023
Presenter: Neil Hermon (Portfolio Manager at Janus Henderson Investors)
Company Information: The Henderson Smaller Companies Investment Trust plc (HSL) aims to maximise shareholders’ total returns (capital and income) by investing in smaller companies that are quoted in the United Kingdom.
HSL focuses on small and mid-cap companies, driven by the historical precedent that these companies outperform their larger peers over the long term. This gives HSL an investable universe of over 1000 stocks, which is whittled down to c100 growth-biased stocks via a truly bottom-up stock picking approach.
This strategy has delivered, with HSL outperforming its benchmark in 16 of the last 20 financial years, whilst also growing its dividend every year since 2003. This 20 years of dividend growth has placed it on the Association of Investment Companies’ (AIC) Dividend Heroes list. The Trust also has the lowest ongoing charges in the AIC’s UK Smaller Companies Sector at 0.44%.
Neil Hermon – Portfolio Manager
Neil Hermon is a Portfolio Manager on the UK Equities Team at Janus Henderson Investors, a position he has held since 2013. He joined Henderson in 2002 as head of UK smaller companies. Prior to this, he served as head of UK smaller companies for General Accident Investment Management (later to become CGU plc). He began his career at Ernst & Young as a chartered accountant.
Neil received an MA (Hons) in mathematics from Cambridge University. He is an associate member of the Society of Investment Professionals (ASIP) and has 34 years of financial industry experience.
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