Nimmo commits to another seven years on Standard Life UK Small-Cap trust; new discount policy introduced

Managed the trust for the last 12 years

Harry Nimmo has confirmed his intention to manage the £255m Standard Life UK Smaller Companies trust for another seven years, as the board also alters its discount policy and fee structure.

The fund manager (pictured), who also runs the open-ended SLI UK Smaller Companies, Global Smaller Companies and UK Opportunities funds for the group, announced his intention to remain as manager for another seven years at the investment company's annual strategy review. However, his notice period under the investment management agreement has been reduced from one year to six months. The trust has returned 774% since Nimmo took over in September 2003,  against the AIC UK Smaller Companies sector average of 353%, according to FE Trustnet. Meanwhile, the trust's board also announced ...