Positive focus helps trust to solid returns

Standard Life UK Smaller Companies Trust has generated another solid return for investors after focusing on firms that "display resilience, low risk and positive growth".

The trust, which is run by investment veteran Harry Nimmo, yesterday cheered a 38.5 per cent increase in net asset value over the year to 30 June. The figure compares with a rise of 24.4 per cent in the benchmark Hoare Govett Smaller Companies Index (excluding investment companies).

There was a 56.3 per cent jump in the total dividend per share to 2.5p, against 1.6p the year before.

The trust highlighted its "high exposure to successful online business models", including web-based clothing retailer ASOS, whose shares surged 153 per cent over the period.