View more on these topics

SLI’s Harry Nimmo goes global with smaller cap funds

World-Global-Plan-Strategy-Business-700x450.jpg

Standard Life Investments star manager Harry Nimmo says his soft-closed £1.2bn UK Smaller Companies fund will not reopen “anytime soon” as he plans on growing international funds.

Nimmo’s 19-year old smaller cap fund soft-closed in August 2011 after soaring inflows pushed its assets up to £1.3bn and the fund group moved to protect the interests of existing shareholders. The fund reopened to Hargreaves Lansdown in 2014 but remained closed to other advisers and distributors.

Since then the fund has seen outflows of £600m. Nimmo told Money Marketing in the last two years, performance has been “reasonable although not spectacular” but inflows have been stronger on SLI’s international small cap strategies.

He says: “[For the UK fund] we had good years in 2014 and 2015, the markets have gone up a lot and that has counteracted the outflows we’ve seen.

“Given that £600m has flooded out, we are not planning to completely open the fund anytime soon. Our strategy now is to grow our international funds with our £600m European Smaller Companies and £370m Global Smaller Companies funds. It is in these two areas that we’ve seen strong money flows in the last year.”

Recommended

Standard Life’s Nimmo doubles property holding

Harry Nimmo, manager of the £1bn Standard Life UK Smaller Companies fund, has more than doubled his exposure to real estate companies, after five years of being mostly invested out of the sector. Nimmo has increased his weighting to the sector from 1.5 per cent to 4 per cent of the portfolio, over the last […]

Standard’s Nimmo doubles emerging market exposure

Standard Life head of smaller companies Harry Nimmo has doubled his global smaller companies fund’s exposure to global emerging markets. The fund launched in January with a 6 per cent exposure to global emerging markets. Nimmo has increased this to 12 per cent compared with the 8 per cent benchmark in the MSCI all country […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment