Aberdeen Standard Investments is doubling up on managers for its smaller companies mandates, in a move that will see Abby Glennie team up with Harry Nimmo on £2.5bn worth of funds.
Glennie (pictured) has been made a co-manager on the £1.8bn ASI UK Smaller Companies fund, which had been solely managed by Nimmo since inception in 1997, as well as the the £608.1m Standard Life UK Smaller Companies trust which he has run since 2003. She will also help Nimmo manage the £95.4m ASI (AAM) UK Smaller Companies fund.
ASI announced earlier this year Nimmo would be stepping back as its smaller companies boss to launch a Global Mid Cap strategy and concentrate on portfolio management duties.
Since then, he has also returned to the helm of the Global Smaller Companies fund he helped launch alongside Alan Rowsell in 2012 after Rowsell and analyst Imogen Harris defected to Premier Miton.
Amanda Yeaman also promoted to co-manager on trio of funds
Following Glennie’s promotion to the trio of funds, Amanda Yeaman will step up to assist on her existing mandates, becoming a co-manager on the £73.3m Aberdeen Smaller Companies Income trust and a deputy manager on the £156.6m ASI UK Mid Cap and £143.4m UK Opportunities funds.
ASI head of smaller companies Andrew Paisley said adding Glennie and Yeaman on the respective mandates “formalises our existing approach on these portfolios”.
Both Glennie and Yeaman have worked closely with Nimmo across the UK small and mid-cap strategies since joining the team in 2015 and 2019, respectively.
ASI beefs out smaller companies team with pair of investment analysts
Alongside Glennie and Yeaman’s promotions ASI revealed it had appointed Tzoulianna Leventi and Liam Patel as investment analysts, bringing the total number of people covering mid and small-cap funds to eight.
Leventi joined ASI in 2018 as a graduate, while Patel landed at the firm more recently from the British Airways Pension fund where he spent four years as a global emerging markets analyst.
ASI said Leventi’s main responsibilities will include ESG-related research and engagement as well as stock research of Southern European small and mid-caps.
Patel will focus on researching new and existing Smid ideas in Asis Pacific ex Japan and emerging markets, working closely with Kirsty Desson, Nimmo’s co-manager on the Global Smaller Companies fund.
Commenting on the changes, Paisley said: “Our dedicated smaller companies team has a track record of success across UK, European and Global strategies. Our strengthened team and extensive experience will ensure we continue to deliver for our clients.”
ASI has announced major changes to a number of funds this year. In addition to losing Rowsell on the Global Smaller Companies fund it was forced to shutter its significantly underperforming UK Recovery fund, run by Andrew Hunt, and the Global High Yield Bond fund after losing the support of a key investor.
