On 5 September 2022, abrdn announced that Harry Nimmo, the long-standing lead manager of abrdn UK Smaller Companies, will retire at the end of 2022.  Following this news, the fund remains on our Established list.

Following Mr Nimmo’s retirement, the fund management team will consist of Abby Glennie, currently co-manager, and Amanda Yeaman, an experienced member of the UK Smaller Companies team, who will be promoted to deputy manager with effect from 1 January 2023.  Ms Glennie has worked with Mr Nimmo on the UK Smaller Companies fund for almost seven years, having been named co-manager in November 2020.

From a broader team perspective, abrdn has indicated that will be no change to the overall leadership structure, with Andrew Paisley continuing to lead the Smaller Companies team, supported by Ms Glennie as his deputy.

The abrdn UK Smaller Companies team is well-resourced and operates with a strong team culture.  The core of their investment approach is to identify small companies that they expect to grow into the large companies of the future.  They are prepared to take a long-term view and focus on company analysis in seeking to invest in high-quality businesses with proven profitability and resilient business models.  As the bias is to more established businesses, the fund is typically exposed to the larger end of the smaller company universe.

Based upon our knowledge of Ms Glennie and Ms Yeaman and the broader UK Smaller Companies team, we see this as a logical succession plan that provides continuity of approach.  Nonetheless, according to our research process, we will continue to monitor the fund closely.

For further information, please visit the fund page.