Harry Nimmo is stepping back as Aberdeen Standard Investment’s small cap boss as he takes the lead on a new mid-cap fund.
After 27 years as global head of smaller companies, ASI said in a release Nimmo (pictured) “has decided it is an appropriate time to step away from people and commercial management responsibilities”.
Nimmo will continue to run the ASI UK Smaller Companies fund and the Standard Life UK Smaller Companies trust as well as his other UK smaller company portfolios.
He will be succeeded by deputy head of smaller companies Andrew Paisley, while Abby Glennie is to take up Paisley’s old role.
Nimmo launches mid-cap strategy
The change in role comes as the fund group announces Nimmo will oversee the launch of a Global Mid Cap strategy. The fund, due to be launched some time over the next quarter, will see Nimmo and co-manager Anji Shah build a concentrated portfolio of quality firms with momentum and growth characteristics, many of them smaller companies that have graduated to mid-cap status.
“After over a quarter of a century in this role, it is the right time to hand the baton to Andrew who will do a fantastic job alongside Abby,” Nimmo said in a statement.
“I’m looking forward to focusing on my UK smaller companies portfolios and working with Anjli on the new global mid cap strategy. The strategy is ideally placed and will be able to leverage the team’s insights, including detailed information on strong-performing small cap stocks that have graduated to mid cap status.”
Paisley will take over from Nimmo on 31 March.
