Downing soft-closes micro-cap OEIC at £30m

Downing has soft-closed its MI Downing UK Micro-Cap Growth fund, managed by Judith MacKenzie, as it has reached its £30m capacity limit.

The £30.6m micro-cap OEIC has been closed to new investments, although monthly savings plans will continue as normal. Managed by MacKenzie and her team since February 2011, the fund has returned 136% over five years to 9 June, versus the IA UK Smaller Companies sector average of 121%, according to FE. The vehicle has drawn a strong following among investors who have been attracted by MacKenzie's distinctive strategic approach and private equity investment style. MacKenzie said: "It has always been our intention to soft-close the fund at £30m as size is critical to maintaining the ...