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June 7, 2017

Stewart Investors to launch new small-cap investment trust

Stewart Investors is set to introduce a new global small-cap investment trust targeted at family business later in June 2017.

The trust, named ScotGems, will hold 20 to 30 positions in firms with a market cap of less than $2.5bn.

The London Stock Exchange-listed vehicle will invest in multiple sectors, but will focus on smaller companies in the Asia Pacific and global emerging market.

The service will charge 1% of net assets per year as management fee, with ongoing charge capped at 1.5%.

Ashish Swarup and Tom Allen will serve as lead managers on the trust. The board of ScotGems will be chaired by William Salomon, while Angus Tulloch will serve as non-independent director.

“Stewart Investors has a proven long-term investment record, particularly in Asia Pacific and global emerging markets. The idea of focusing on smaller family-owned companies makes sound investment sense,” Salomon noted.

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