# Montanaro UK Smaller Companies Investment Trust PLC (MTU)

**Source:** https://fundology.uk/fund/mtu · ISIN GB00BZ1H9L86 · Data: TradingView (LSE closes and returns, delayed), issuer documents, ONS CPIH, FCA FIRDS

## At a glance

> Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.

As of 30/09/2026, MTU (Montanaro UK Smaller Companies Investment Trust PLC, ISIN GB00BZ1H9L86) closed at £1.13 on the London Stock Exchange. Over the five years to 30/09/2026 its price changed by −30.6% (income paid out is not included), or −45.1% after UK CPIH inflation.

## Summary

Montanaro UK Smaller Companies Investment Trust PLC is an investment trust. You buy and sell it through a share-dealing account or platform during stock-market hours, like a share.

Latest close: **£1.13** (30/09/2026).

## Key facts

| Fact | Value |
|---|---|
| Ticker (LSE) | MTU |
| ISIN | GB00BZ1H9L86 |
| Category | Investment trusts |
| Type | Investment trust |
| Domicile | United Kingdom |

## Past returns (periods to 30/09/2026)

After the fund's ongoing charges. "Income reinvested" is total return; "price only" leaves out income paid out. Real returns are after ONS CPIH inflation.

| Window | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 1 year | +11.39% | +8.36% | price only |
| 3 years | +17.19% | +6.40% | price only |
| 5 years | -30.56% | -45.08% | price only |

Returns: Fundology, from recorded daily closes. Inflation: ONS CPIH, latest month published.

## Calendar-year returns

Calendar-year returns of Montanaro UK Smaller Companies Investment Trust PLC in pounds (price only, income paid out not included): 2022 −27.1%, 2023 −15.1%, 2024 +1.2%, 2025 −4.7%; 2026 to 30/09/2026 +12.1%. Returns of Montanaro UK Smaller Companies Investment Trust PLC in pounds (price only, income paid out not included) over the 12 months to 30/09/2026: +15.5%; to 30/09/2025: −9.0%; to 30/09/2024: +7.0%; to 30/09/2023: +6.4%; to 30/09/2022: −45.4%.

| Year | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 2022 | -27.1% | -33.3% | Price |
| 2023 | -15.1% | -18.5% | Price |
| 2024 | +1.2% | -2.2% | Price |
| 2025 | -4.7% | -7.9% | Price |
| 2026 to 30/09/2026 | +12.1% | +9.0% | Price |

## Risk metrics

| Window | Volatility | Max drawdown |
|---|---|---|
| 1 year | 14.98% | -11.81% |
| 3 years | 16.70% | -18.39% |
| 5 years | 19.68% | -50.24% |

## Largest fall

Volatility of Montanaro UK Smaller Companies Investment Trust PLC in pounds, annualised from weekly returns to 30/09/2026: 15.0% over 1 year, 16.7% over 3 years, 19.7% over 5 years. Largest fall in the price of Montanaro UK Smaller Companies Investment Trust PLC since October 2021, in pounds: −50.2% from 12/11/2021 to 27/10/2023. The lowest 12-month return of Montanaro UK Smaller Companies Investment Trust PLC in pounds (price only, income paid out not included) since January 2021 was −42.3% (12 months to 16/09/2022); the highest was +24.4% (12 months to 25/10/2024). On 30/09/2026 the price of Montanaro UK Smaller Companies Investment Trust PLC was 33.8% below its highest weekly close since October 2021 (12/11/2021), in pounds.

## Charges & eligibility

- ISA eligible: yes
- SIPP eligible: yes

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Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.