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Chelverton Launches New UK Small, Mid-Cap Fund

Stephen Little

2 October 2014

UK small and mid-cap boutique is launching a new growth fund investing in UK small and mid-cap stocks on 20 October.

The Chelverton UK Equity Growth fund will hold between 50-60 stocks, with a minimum 80 per cent of the portfolio invested for the longer-term in cash generative growth stocks.

The remaining 20 per cent of the fund will be invested in large FTSE sectors like oils and financials, with up to 5 per cent of the fund in concept stocks.

It will be managed by James Baker, who joined the firm in June, and David Taylor, co-manager of the Chelverton UK Equity Income fund.

The fund will share the same strategy as the existing UK Equity Income fund and has a minimum investment of £1,000 ($1,621) and an annual management charge of 75 basis points.

“We have grown significantly in recent years and have wanted to extend our product offering for some time. To do so we needed to build the investment team, and having known James - a proven stock picker in the small and mid-cap space - for many years, we were delighted when the opportunity presented itself to bring him on board, his appointment creating the opportunity to launch the new growth fund,” said Taylor.