Skip to main content
  • Register
  • Help
  • Contact us
  • Log out of your HL account

ASI UK Smaller Companies Inclusive - Class R - Income (GBP)

Sell:82.01p Buy:82.01p Change: 0.77p (0.95%)
Prices as at 6 December 2019
Sell:82.01p
Buy:82.01p
Change: 0.77p (0.95%)
You can buy or sell holdings in this fund through an ISA, Lifetime ISA, SIPP or Fund & Share Account
Prices as at 6 December 2019
Sell:82.01p
Buy:82.01p
Change: 0.77p (0.95%)
Prices as at 6 December 2019
You can buy or sell holdings in this fund through an ISA, Lifetime ISA, SIPP or Fund & Share Account
The selling price currently displayed is higher than the buying price. This can occur temporarily for a variety of reasons; shortly before the market opens, after the market closes or because of extraordinary price volatility during the trading day.

Our view on this Fund

This fund does not feature on our Wealth 50 list of what we believe are the best funds in each sector. If a fund is not within our Wealth 50 this is not necessarily a recommendation to sell. However, if you are thinking of adding to your investments we believe Wealth 50 funds are superior alternatives. View funds on the Wealth 50 »

Harry Nimmo is an experienced UK smaller companies fund manager. Our analysis suggests he's skilled at picking higher-risk smaller companies with good prospects for growth. He doesn't buy or sell as much as many other managers. Instead he prefers to 'run his winners', staying invested if they grow into large companies. That makes it different from many other funds in the sector. Although we think Nimmo's a very good manager, we have higher conviction in other managers in the sector, who offer lower cost funds.

Our view on the sector

Smaller companies in the UK are among the most innovative and exciting around. They can be pioneers of an emerging industry, and adapt quickly to new opportunities. We think their long-term growth prospects are compelling. Some will blossom into the giants of tomorrow. But others will struggle or fail altogether, so they are higher risk. Unlike larger companies such as Tesco or Vodafone, which might have dozens of analysts poring over their accounts, smaller companies tend to be less researched. They might only have one or two analysts covering them which creates opportunities for eagle-eyed fund managers to spot hidden gems. Over the past decade, innovations such as the internet have allowed smaller companies to level the playing field with larger rivals. Even so, they tend to be more sensitive to the UK economy then larger companies so you should expect more ups and downs along the way. We think UK smaller companies could be a great addition to a diversified portfolio able to accept the increased volatility.

Performance Analysis

Harry Nimmo's run the fund since it launched in 1997. In that time he's built a very good track record, and has beaten the Numis Smaller Companies index by a long way. He's had some of his best performance relative to the market when the market's been falling. But he's also done better when the market's been going up too. The fund can fall behind the market when it's rising rapidly though. This isn't an indication of how the fund will do in the future.

Investment Philosophy

The manager seeks long-term growth from small companies that've shown they're already successful. He's less interested in small companies with high future growth potential but are still unproven or aren't yet profitable.

Process and Portfolio Construction

Nimmo looks for companies with advantages over competitors, consistent sales, and long-term growth. He thinks these are good indicators of a company's prospects. He prefers companies either still run by its founders or where management have been in place for at least 10 years. He thinks this makes his fund different to most others.

As the fund is focused on long-term growth, the manager invests in companies that also have plans to keep growing well into the future. He normally doesn't sell an investment if it grows into a large company, preferring to stay invested if he thinks it'll keep growing.

He invests in a fairly small number of companies so each one can potentially make a big difference to performance, but it's a higher-risk approach. At the same time he'll ensure no company makes up more than 5% of the portfolio, so if a few companies have a tough time he hopes they won't drag down performance too much.

question mark Manager Track Record Based on HL Quantitative Research

  • Standard Life Inv UK Smaller...
  • ASI UK Smaller Companies Retail...
  • FTSE Small Cap (X It) TR
FROM: TO:


Fund Track Record

06/12/14 to 06/12/15 06/12/15 to 06/12/16 06/12/16 to 06/12/17 06/12/17 to 06/12/18 06/12/18 to 06/12/19
Annual return n/a 0.84% 29.20% -2.76% 29.36%

Please remember past performance is not a guide to future returns. Where no data is shown, figures are not available. This information is provided to help you choose your own investments, remember they can fall as well as rise in value so you may not get back the original amount invested.

Information about the fund

Fund manager biography

manager photo
Manager Name: Harry Nimmo
Manager start date: 6 January 1997
Manager located in: Edinburgh

Harry Nimmo graduated with an MBA from Edinburgh University in 1984 and joined Standard Life as an Investment Analyst with responsibility for UK equity funds in 1985. He became Senior Investment Analyst with sector responsibility for larger UK quoted company funds in 1990 and Investment Manager in 1993 responsible for the UK equity smaller (quoted) company funds. Harry became Fund Manager for the Standard Life Investments UK Smaller Companies Fund when it was launched in January 1997.

Data policy - All information should be used for indicative purposes only. You should independently check data before making any investment decision. HL cannot guarantee that the data is accurate or complete, and accepts no responsibility for how it may be used. Benchmark data provided subject to this disclaimer.
You can buy or sell holdings in this fund through an ISA, Lifetime ISA, SIPP or Fund & Share Account