Stewart Investors to launch ScotGems investment trust on 26 June

Focus on global small cap

Stewart Investors has unveiled further details of the launch of its new investment trust, which will list on the London Stock Exchange on 26 June, and will be managed by Ashish Swarup with Angus Tulloch as non-independent director.

The new vehicle, called ScotGems, will invest in small cap companies across the world, defined as those with a market cap of less than $2.5bn, with an aim to provide long-term capital growth to its shareholders. It will do this by investing in a range of sectors for diversification but envisages the trust will be tilted, at least initially, towards smaller companies in the Asia Pacific and global emerging market regions. The group expects the portfolio to be concentrated, with the typical number of holdings ranging from 20 to 30. Ashish Swarup will be lead manager of the trust, hav...