Standard Life soft-closing £1bn smaller companies fund
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Standard Life Investments is to soft-close its UK smaller companies fund
The £1.1bn fund has been managed by Harry Nimmo since launch in 1997. Nimmo also managed the UK opportunities fund in 2007 and continues to manage Scottish Widow’s HIFML UK smaller companies alpha fund.
The UK smaller companies fund has returned 565 per cent since launch compared with a sector average of 276.8 per cent. The fund is top quartile in the IMA UK smaller companies sector over one, three and five years.
Standard Life Investments head of UK wholesale Jacqueline Kerr says the fact that the fund has passed the £1bn mark has “prompted a rev- iew of capacity to ensure consistency of process for this style of mandate”.
She says this has led to the decision to soft-close the fund.
Hargreaves Lansdown investment manager Ben Yearsley says: “Harry Nimmo has a fantastic track record and he is obviously doing this to protect his investors. Smaller companies funds should not run into billions of pounds.”
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