UK-based Chelverton Asset Management is planning to launch a new small-cap fund in September this year.
Additionally, the firm has hired James Baker, a former member of ABN Amro’s mid-and small cap team, to manage the new UK Smaller Companies fund alongside Chelverton’s investment fund manager David Taylor, according to Investment Week.
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The fund, which is designed as an open-ended, growth-focused portfolio, will invest mainly in quoted stocks.
The fund will complement the firm existing range, which includes the Small Companies Dividend trust, and the Chelverton Growth trust and will represents a key stage in the business development.
Taylor said: "We wanted to offer investors something different to what we have, and the new fund will be a very important portfolio for us, representing a new leg for the business."
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