Aberdeen Standard Investments' Abby Glennie appointed co-manager on Harry Nimmo’s UK smaller companies investment trust and funds as the veteran small-cap investor nears retirement.
Glennie’s promotion follows AAA-rated Nimmo’s decision to take back the reins of the £1.3bn ASI Global Smaller Companies fund in June, following the departure of Alan Rowsell. Nimmo stepped down as ASI’s global head of smaller companies in February.
Nimmo has a strong track record in the hard-hit UK small cap sector, with his flagship ASI UK Smaller Companies fund up 38.8% over three years, more than three times the 11.2% average for funds in the Investment Association’s (IA) UK Smaller Companies sector.
Amanda Yeaman, who joined in June, has been named co-manager of the Aberdeen Smaller Companies Income trust alongside Glennie, and will also deputise on Glennie’s £146m ASI UK Mid Cap Equity fund and £77m UK Opportunities Equity fund.
The UK Mid Cap fund is up 36.6% over three years, well ahead of the FTSE 250 ex-investment trust’s 2% return, while UK Opportunities Equity has risen 17.2%, compared to the 1.5% average for funds in the IA’s UK All Companies sector.
Andrew Paisley, head of smaller companies at ASI, said: ‘Abby and Amanda’s appointments as deputy and co-managers on specific funds formalises our existing approach on these portfolios.
‘Our dedicated smaller companies team has a track record of success across UK, European and global strategies. Our strengthened team and extensive experience will ensure we continue to deliver for our clients.’
In addition to the promotions, the group has appointed two investment analysts to its smaller companies team covering its range of small and mid-cap funds.
Liam Patel joins from the British Airways Pension fund and will be responsible for conducting research within the Asia Pacific ex-Japan and emerging markets regions, working closely with Kirsty Dessen, co-manager of the Global Smaller Companies fund.
Tzoulianna Leventi, who joined ASI as a graduate in 2018, will be focused on environmental, social and governance (ESG) research as well as southern European small and mid-caps.
Paisley added: ‘Tzoulianna and Liam are welcome additions to the team. ESG is a key focus for us and our clients and Tzoulianna’s appointment is a natural progression and will further enhance our resource relating to ESG on the desk.’