View more on these topics

Little Britain

UK smaller companies funds suffered badly during May, being down by 6.6 per cent on average, but there are still great opportunities in this sector where growth investing is back in vogue and where continued strong economics and a general rerating of growth companies are likely.

A smaller companies fund I particularly like is Old Mutual UK select smaller companies, run by Daniel Nickols who took over from Ashton Bradbury in January 2004 and has continued his excellent performance. Since he took over, this fund is the top performer in its sector, being up by 69 per cent in the two years to June 2006, more than 27 per cent above the average.

The fund is overweight in support services, where there are structural opportunities, and in electronics, where valuations are still cheap. It is underweight in general retail because of tough trading positions but a few retailers are now rated cheaply and he has bought holdings in Jessops and Land of Leather.

Industrials form the greater part of the portfolio, with holdings at around 43 per cent. Financials account for 16 per cent, consumer services around 13 per cent and oil and gas around 8 per cent.

The fund is widely spread, with only Chemring and Charter accounting for around 2 per cent each of the portfolio. Other holdings include Laird, Venture Production, SIG and Mouchel Parkman.

The UK smaller companies sector has outperformed the equity UK sector by substantial margins and I believe that the best stockpickers will continue to do so although bigger company funds may catch up in the short term.

Other funds I like in this sector are Axa Framlington UK smaller companies run by Roger Whiteoak, M&G smaller companies, Merrill Lynch smaller companies and Rensburg smaller companies.


Lincoln places Financial Foundations on Webline

Lincoln Financial Group has announced that the life and income protection parts of Financial Foundations are now available on Webline.Financial Foundations is the Lincoln’s menu-based protection proposition. The product is already available to advisers through The Exchange and its IFA extranet. Financial Foundations offers a combination of benefits under one wrapper. The product menu comprises […]

Control engineering

North was launched a year ago in response to what appeared to be a growing need among intermediaries and small asset management companies within the UK. That need revolved around the outsourcing of the investment management function of their businesses. As director of multi-manager investment at a big UK retail asset management company, this was an arena in which I plied my trade. However, for the bigger intermediary firms, it appeared that the multi-manager approach just was not flexible enough to accommodate the demands of their business model.

Home from home

Our panel of experts discuss mortgage and tax issues for borrowers to consider when buying a property abroad


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm