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Please note, on 1st April 2021 Brown Advisory assumed the role of Investment Adviser to the Company following Robert Siddles’ retirement. Company information can now be found at https://www.brownadvisory.com/intl/investment-trusts/brown-advisory-us-smaller-companies-plc. This webpage will be discontinued on 30 April 2021.
Please bear in mind that all investments involve risk and the value of, and any potential income from, your investment may fluctuate and are not guaranteed.
Jupiter Asset Management Limited, as the Company’s Investment Adviser, takes a risk-averse approach to investment, emphasising capital preservation. The approach is long-term and focuses on good quality companies whose share valuation reflects limited downside risk. The Investment Adviser believes that this sector is a diverse and dynamic part of the North American market and continues to provide opportunities for capital growth over the long-term. The sector is highly diversified with a great many companies from which to choose. Many companies are relatively immature, whether financially or operationally or in terms of management or market position. They tend to be highly geared to growth and are particularly vulnerable to market and other changes.
Against this background, the Company has adopted a disciplined and relatively conservative investment style that focuses on companies with a strong franchise, free cash flow and insider ownership by management, and whose shares are considered by the Investment Adviser to be cheap at the time of investment. Whilst shares in these companies will not always be the best performing, the Investment Adviser believes that this is an excellent approach to long-term investment in this sector.
No more than 10% of the total assets of the Company may be invested in other listed investment companies (including investment trusts) except in such other investment companies which themselves have stated that they will invest no more than 15% of their total assets in other listed investment companies, in which case the limit is 15%.
The Company will at all times invest and manage its assets with the objective of spreading risk and in accordance with its published investment policy.
Any material change in the investment policy of the Company described above may only be made with the approval of Shareholders by an ordinary resolution.
Robert adopts a risk-averse approach to investment. He is a long-term investor who focuses on good quality companies whose share valuation reflects, in his view, limited downside risk, at the time of purchase. As his long investment experience has taught him investing in US smaller companies can be very risky. Robert has found a margin of safety approach (which seeks to buy companies below their theoretical value), with a long-term and value-orientated focus, works well. This approach, in Robert’s opinion, enables a patient investor to exploit the intense pressure on market participants to be short-term in outlook and leaves him well placed to take advantage of opportunities created by such sell-offs in particular stocks. He also emphasises regular contact with company managements as an im-portant source of idea generation and assessing the entrepreneurial characteristics associated with smaller companies.
Dividend instalment plan
Managing your account online
The company’s registrar, Computershare Investor Services PLC, allows you to manage your shareholding online. If you are a direct investor you can view your shareholding, change the way the registrar communicates with you and buy and sell shares. If you haven’t used this service before, all you need to do is enter the name of the company and register your account at https://www-uk.computershare.com/investor**. You’ll need your Investor code (IVC) printed on your share certificate in order to register.
Computershare’s contact details are as follows:
Computershare Investor Services PLC
BRISTOL BS99 6ZZ
*Calls to this number are charged at the standard geographical rate and will vary by provider. Calls outside of the United Kingdom will be charged at the applicable international rate. Lines are open from 09.00 – 17.30 Monday to Friday. 3rd party calls may be recorded.
**Links are provided for your convenience and Jupiter accepts no responsibility for the content of such websites.
Market and exchange rate movements can cause the value of an investment to fall as well as rise, and you may get back less than originally invested.
We recommend you discuss any investment decisions with a financial adviser, particularly if you are unsure whether an investment is suitable. Jupiter is unable to provide investment advice.
Investment trust companies are traded on the London stock exchange, therefore the ability to buy or sell shares will be dependent on their market price, which may be at a premium or discount to their net asset value.
Jupiter US Smaller Companies PLC
The Company invests in smaller companies, which can be less liquid than investments in larger companies and can have fewer resources than larger companies to cope with unexpected adverse events. As such price fluctuations may have a greater impact on the Company. The Company invests mainly in shares and it is likely to experience fluctuations in price which are larger than Companies that invest only in bonds and/or cash.
Before making an investment decision, please read the PRIIPS Key Information Document which is available from Jupiter on request and at www.jupiteram.com.
Past performance is no guide to the future.
Company examples are for illustrative purposes only and are not a recommendation to buy or sell.
The Company currently conducts its affairs so that its shares can be recommended by Financial Advisers to ordinary retail investors in accordance with the Financial Conduct Authority’s (FCA) rules in relation to non-mainstream pooled investment products and intends to continue to do so for the foreseeable future. The Company’s shares are excluded from the FCA’s restrictions which apply to non-mainstream pooled investment products because they are shares in an investment trust.
This website provides links to third party websites over which Jupiter has no control. These links are provided for your convenience and Jupiter accepts no responsibility for the content of such websites.