The board of the £93m River and Mercantile UK Micro Cap trust has discussed plans to control volatile discount movement since the departure of well-known UK manager Philip Rodrigs.
In its half-year report released this morning, the board of the trust acknowledged there had been share price weakness and discount volatility since manager Philip Rodrigs left the firm following an investigation into a professional conduct issue. River and Mercantile's George Ensor has taken over full responsibility for the trust, which the board said it was "confident to confirm" as this would mean the continuation of "the investment philosophy and process that has thus far delivered such powerful investment returns". The share price of the UK Micro Cap trust fell 14.6% on 7 Februar...
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