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Discretionary Unit

Managed by

Simon Knott

Simon Knott's fine analytical brain has helped him become an international chess master and a top fund manager in the UK Smaller Companies sector. 'The important thing in chess, as well as the stockmarket, is to make good decisions and to keep your error rate down,' says Knott. The Discretionary unit trust, which was originally launched in 1963, has been a strong performer since he took charge of it in 1990. London-born Knott, graduated from Trinity College, Cambridge, with an Economics degree. He started his career at family stockbroking firm Green & Co, which was taken over by Greig Middleton and later Gerrard. He was director of the group between 1988 and 1997, before his Discretionary venture. Knott describes himself as a 'deep value' investor who pays little attention to the macroeconomic issues apart from keeping abreast of general economic trends. On his business visits, he makes a point of going to the business locations of small firms so he can see the quality of their technology or second tier management at first hand.


To provide maximum appreciation with above average yield for a growth fund through concentration in UK smaller and medium sized companies. This is achieved through a stable medium term portfolio not subject to frequent adjustments. The benchmark index is the FTSE All Share Index.

Asset Allocation



Top 10 Holdings

Stock Size
Rights & Issues Investment Trust PLC Capital 9.83
Brammer PLC ORD 7.43
Colefax Group PLC ORD 7.28
Treatt PLC ORD 5.37
RPC Group PLC ORD 5.04
Hill & Smith Holdings PLC ORD 4.39
John Menzies PLC ORD 4.37
Scapa Group PLC ORD 3.91
Macfarlane Group PLC ORD 3.78

Registered For Sale In

  1. United Kingdom

Fund Info

  • Launch date01/08/1963
  • Share Class size35Mn
  • Base currencyGBP
  • ISIN GB0002708708

Purchase Info

  • Min. initial investment3,000
  • Min. additional investment0


  • Annual management1.0%
  • Initial investment3

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