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Chelverton plans Oeic version of small companies trust

Chelverton Asset Management is set to introduce an version of its 57m small companies dividend investment trust this autumn.

Fund manager David Taylor and David Horner and will mirror the investment trust portfolio by targeting small and mid-cap stocks that yield at least 4 per cent annually.

The fund will predominantly invest in small and mid caps, including Aimlisted companies, but will also have around 10 per cent exposure to FTSE100 stocks to provide liquidity.

The Oeic will stick to the disciplined stockpicking process used by the investment trust, employing a screening process to identify undervalued stocks.

No more than 20 per cent will come from any one sector. Minimum retail investment will be 1,000.

Taylor says: “We use a bottom-up approach to pick out of favour small caps. A lot of people do not like small companies because they think that large-cap firms are cheaper but we like to buy small caps with high or rising yields.

“The only real difference to our small companies dividend investment trust is that the Oeic version will have a slightly bigger exposure to large caps to provide greater liquidity.”


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