Nimmo's SLI Small Cap trust raises AIM limit to 50%

Currently a 42% weighting

The board of the SLI UK Smaller Companies investment trust, run by Harry Nimmo, has altered its benchmark and mandate to allow the manager to invest up to half of the portfolio in AIM stocks.

The £380m trust could previously invest 35% to 40% in AIM and the board has now agreed to increase this limit to 50% of the portfolio. Nimmo currently has 42% of the trust invested in AIM, but said increasing the limit to 50% gives him flexibility to move this weighting upwards in the future. Its benchmark has also changed from Numis Smaller Companies (ex Investment Companies) to the Numis Smaller Companies plus AIM (ex Investment Companies).  What can the industry expect from the LSE's review of AIM rules? In the trust's interim report, Nimmo said the new index would provide a ...