Scheme document published for the proposed reconstruction and rollover into Smithson Equity Fund – A new UK open-ended investment company
January 2026
Smithson Investment Trust plc is an LSE Main Market listed close-ended investment company with an investment policy is to invest in shares issued by small and mid-sized listed or traded companies globally with a market capitalisation (at the time of initial investment) within the range of the constituents of the MSCI World SMID Index.
The Fund’s approach is to be a long-term investor in its chosen stocks. It will not adopt short-term trading strategies. Accordingly, it will pursue its investment policy by investing in approximately 25 to 40 companies.
On 12th November 2025, the Board announced that the Company has entered into heads of terms with Fundsmith LLP for the proposed rollover of the Company’s assets into an open-ended investment company (“OEIC”), implemented via a scheme of reconstruction and voluntary winding up of the Company with the intention that the assets of the Company will be transferred to Smithson Equity Fund.
Publication of Scheme document
Having helped Smithson with the production of their annual reports since their launch in 2018, the Perivan shareholder communications team was delighted to work with Dickson Minto who acted as Legal Adviser on the Scheme and associated documents, which were successfully published and posted to qualifying shareholders on 22nd January 2026.
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