Income stars Chelverton to launch small-cap fund for new hire

Chelverton Asset Management is to launch a small-cap fund in September after expanding its team of fund managers.

The group has appointed small-cap specialist James Baker, a former member of ABN Amro's highly-rated mid- and small-cap team, to run a new UK Smaller Companies fund alongside David Taylor. Taylor (pictured) and David Horner - who set up the business in 1997 - already run the top performing £330m Chelverton UK Equity Income fund, which has beaten rivals in the IMA UK Equity Income sector over three years and is one of the most consistent outperformers. Baker will be lead manager of the small-cap fund, an open-ended, growth-focused portfolio. It will invest in stocks which the team expe...