R&M to unveil micro-cap investment trust for Rodrigs

River & Mercantile is to launch a micro-cap investment trust for manager Philip Rodrigs.

The new trust, the River & Mercantile UK Micro Cap investment company, will have 30-50 holdings with a market cap of between £10m and £100m. The board will compulsorily redeem part of shareholders' positions to keep the trust's net asset value around £100m, so as to prevent capacity constraints which could affect performance. The firm is expecting to raise £100m for the portfolio, which will list on the London Stock Exchange later this month. Rodrigs (pictured) joined the group from Investec Asset Management in March. He took over management of the River & Mercantile UK Equity Smaller...