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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 world small-cap index.

He says: “We have a 7 per cent exposure to the Philippines, Indonesia and Thailand. We are getting more buys out of these markets than any other markets. Consumer spending and the development of consumer markets, alongside urbanisation, is a big story in these countries.”

Nimmo has added a 1 per cent position in Thai department store Robinsons, 1 per cent in Thai property developer L.P.N. Development and 1 per cent in Indonesian property developer Alam Sutera Realty.

Investment Quorum chief investment officer Peter Lowman says: “I would expect this fund to have a 12 per cent exposure to emerging market smaller companies. We have had a good run in global markets this year and emerging markets have been a star performer.”

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