Hargreave will run the fund alongside Guy Feld and David Walton, and together the trio will seek out companies with a market cap below £75m and which offer strong capital appreciation prospects.
While nano-caps are ideal for investors looking to appreciate their capital over the longer term, their size also means the capacity of Hargreave’s fund has to be limited.
“By soft closing the fund we are acting to ensure it remains at a size where the managers can use their specialist skills and experience to maximum effect,” a spokesman for Marlborough Fund Managers said.
Hargreave and his team at stockbroker Hargreave Hale already run a number of vehicles within the Marlborough suite.
The most popular is the £584 Marlborough Special Situations Fund, though the range also includes the UK Micro-Cap Growth Fund, which Hargreave and Feld run together and invest in companies with a market cap below £250m at the initial point of purchase.
