AIM

As the alternative investment market reaches its 20th anniversary this week, managers highlight some of the most impressive company successes - as well as the major failures on the junior market - over the past two decades.

Miton's UK MicroCap trust has announced its first share issue since launch in April, raising an additional £4.3m.

Old Mutual Global Investors (OMGI) is to alter the investment objective of Richard Watts' UK Mid Cap fund to allow the manager to hold more in mid-cap stocks sitting outside the FTSE 250.

Carl Howard, commercial director at TD Direct Investing, analyses the best and worst economic performers on AIM since it launched

A market for stockpickers

Twenty years of successes and failures for the junior market

Jonathan Winton, co-portfolio manager of the Fidelity UK Smaller Companies fund, explains why under-researched stocks allow managers to look ahead for changes the wider market is likely to miss.

The manager of the Unicorn AIM VCT said the fund is close to matching last year's total of £20m in cash raised from investors but said the company is not looking to raise any more funds "just for the sake of it".

Consolidator AFH Financial has acquired Kidderminster-based advice firm K.L. Plester Financial Services for £1.7m.

The AIM market has been battered this year, dragged down by falls of more than 50% in some of the index heavyweights. Hargreave Hale's Oliver Bedford highlights two lesser-watched stocks lighting up the market.