Aberforth Geared Value & Income Trust (ticker: AGVI) is the fifth in a succession of fixed-life trusts that have run alongside the much larger Aberforth Smaller Companies Trust (ticker: ASL). The portfolios held by the two trusts are similar, although not identical, both having a strong focus on the value end of the UK small-cap market, and they are managed by the same group of individuals. Like its two immediate predecessors, AGVI utilises zero dividend preference shares to offer a highly geared alternative to the main Aberforth trust, providing potential additional upside if UK small-cap...
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UPDATE: ASCoT has been one of the better-performing UK small-cap trusts of the last five years in what has been a difficult market for most managers in this sector. It returned 33% in 2021, -10% in 2022, 8% in 2023, 12% in 2024, and 8% in 2025. From January to mid-September 2026, it is up 14%.
Aberforth Smaller Companies Trust, often shortened to ASCoT, is the largest trust in the UK Smaller Companies sector with nearly £1.6bn in assets. Launched in 1990, it makes up the majority of funds managed by the UK small-cap specialist, Aberforth Partners. It's run by a team of six individuals, five o...
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