The team have been running the fund for 7 years. In terms of performance we tend to compare against the FTSE All Share Index. The performance shows how out of favour small cap is now. Since launch the fund has outperformed but over the last five years an all cap approach would have served better.
The fund has a 24% discount to the FTSE 100 and a smaller discount to the FTSE 250. The team believe this discount demonstrates the opportunities within small cap. They also highlighted that there are fewer analysts working in this area. It means that companies are under researched and this is where they can dig up opportunities….read more