Smith&Williamson streamlines UK growth fund range

Smith & Williamson Investment Management has announced a consolidation of its UK growth fund range.

Following unitholder and regulatory approval, S&W Opportunities Fund and S&W UK Growth Fund have been merged into Smith & Williamson UK Equity Growth Trust. The combined assets of the three funds now exceeds £40m. All three funds were managed by Mark Boucher and had similar investment remits. This consolidation should generate economies of scale for existing investors.

Mark Boucher, partner and fund manager of UK Equity Growth Trust commented: “As a result of this consolidation, we now have one long-only UK equity growth fund, of a decent size, with potential to grow.

“The UK Equity Growth Trust is currently positioned to take advantage of the recovery in UK GDP. It is overweight in house builders and other housing-related stocks as well as other sectors that should benefit from growing consumer confidence. It is mainly invested in large-caps, but currently has around 30% in mid-caps and 5% in small-caps. The fund holds approximately 60 stocks. “

Nick Hodgson, partner, head of Marketing & Sales commented: “This is the final part of a tidying-up exercise of our pooled funds range. We now have a focused product range covering UK equities. Alongside UK Equity Growth, we have Tineke Frikkee, with Mark Swain, managing the UK Equity Income Trust; and Mark Boucher, Rupert Fleming and Mark Swain are the team managing our UK long/short strategy, the Smith & Williamson Enterprise Fund.”

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