Veteran small-cap investor Harry Nimmo (pictured) has stepped down from the global smaller companies fund he launched for Standard Life Investments four years ago.
Full responsibility for the £391 million Standard Life Inv Global Smaller Companies fund passes to co-manager Alan Rowsell, who has worked on the fund with Nimmo since its launch in January 2012.
The fund has returned 22% and 33.3% over one and three years versus a sector average of 20.9% and 37%, respectively.
The move will allow Nimmo to concentrate on the £1.2 billion UK Smaller Companies fund and Standard Life UK Smaller Companies (SLS) investment trust.
Hargreaves Lansdown analyst Heather Ferguson did not anticipate any significant changes to the fund, which remains on the broker's 'Wealth 150' list of favourite funds.
'This fund remains one of our favoured ways to access the wealth of opportunity among global smaller companies,' she said.