By ROBERT HARLEY 12/02/2007
This is a generalist UK equity fund focusing primarily on smaller companies that offer the prospect of growth and dividend income at a reasonable price. To qualify for inclusion, companies must offer a prospective yield at purchase that is 50% greater than the FTSE Mid and Small cap average yield.
This fund is essentially an open ended version of the Small Companies investment trust which has been successfully run by the same manager since 1997. The intention is to cap total assets under management at £250m to enable the manager to retain flexibility within the smaller company arena. The fund is awarded a three star rating.