Nimmo's UK Smaller Cos fund set for lift as ASOS rises 12%

Standard Life Investments' UK Smaller Companies fund, run by Harry Nimmo, is set for a boost as ASOS shares jumped 12% this morning after international sales grew 93% last year.

The online clothing retailer bucked the trend of falling sales to post a 46% increase in revenues in the third quarter. Several businesses in the retail sector have recently called in the administrators, such as Peacocks, as the downturn has hit profits. ASOS shares responded well to the news, rising 12.2% to £16.74 by 10am. Nimmo is the largest investor in the stock with 2.92 million shares, according to Thomson Reuters, amounting to 3.8% of the £1.02bn fund, the third largest holding, as at the end of November 2011. Other recent holders of the stock are Artemis, Fidelity and N...