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Widows peaks at UK small caps

Scottish Widows Inv estment Partnership is introducing a UK small-cap fund to be run by Brian Brennan.

The fund, which is set to launch on November 30, will be the second in the company&#39s small-cap range following its pan-European smaller companies fund launched last year.

It is the firm&#39s first new fund since its merger with Hill Samuel and transition to Swip in July.

The initial charge of 3.75 per cent will be wai ved on both small-cap funds between November 20 and December 8 while the annual charge will be cut from 1.5 per cent to 0.95 per cent .

IFAs can add a front-end charge to the fund for commission during the offer period.

The usual commission on the funds is 3 per cent initial with no renewal.

Director of discretionary IFA sales Gerry Lowe says: “Small cap is one of the most exciting growth areas in the investment universe. Smaller companies stocks in the UK and in Europe have had a particularly hard time in recent years and this may create a buy opportunity. It is always better to invest when values are down than at the peak of a market.

Our bias towards in-depth research positions us particularly strongly in picking small-cap stocks and the inherent pricing anomalies.”

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