UK Smaller Companies Fund Moves to Noble
28/07/2008
Noble today announces the successful transfer of British Smaller Companies Fund, previously managed by First State, to Capita. The transfer of the fund was agreed when Dr Paul Jourdan joined Noble in June 2007, always subject to approval of the shareholders. Dr Jourdan has managed this fund since September 2000, and has continued to manage it for First State since joining Noble. The fund transfer now comes following Noble receiving OEIC authorisation from the FSA. The fund will be called CF Noble UK Smaller Companies Fund, and will continue to operate as before.
The objective of CF Noble UK Smaller Companies Fund is to achieve long-term capital growth primarily by investing in smaller companies listed, quoted and/or traded in the UK. Over the five years to the end of June 2008 the fund has returned 89.7% compared with the return of its benchmark of 84.3% over the same period*.
Bruce McLaren, Chief Investment Officer of Noble, commented: “We are very excited to be able to offer investors the ability to invest into a well established and steadily performing fund. We are building a reputation as one of the best-connected and most expert fund managers in the smaller companies market, a core area of focus for Noble. With funds in excess of £220m under management, NFM has grown significantly over the past three years, a trend which is set to continue..
Dr Paul Jourdan, Head of Equity Investments at Noble and manager of CF Noble UK Smaller Companies Fund, commented: “UK Smaller Companies have been under selling pressure for the last three years, and this has accelerated during 2008. When the market begins to see through the current series of financial and economic problems it would be fair to expect some very good performance from the best of these companies. Unfortunately we can’t say right now when this might be, but our job will be to position the fund effectively to benefit when this does happen.”
Noble has four other equity and venture finance funds under management – Noble AIM VCT plc, Noble Income and Growth VCT plc, Noble Health Fund VCT plc and Noble Venture Finance II. Managed by a team of more than 10 investment professionals, Noble is able to increase deal flow and ensure a greater degree of influence over underlying investments across the range of funds.
* Benchmark – Hoare Govett Smaller Companies (excluding investment trusts, including AIM) Total Return Index Source: First State Investments
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For more information contact:
Ben Thompson, Group Head of Marketing Noble
+44 20 7763 2200
Paul Griffin, Citigate Dewe Rogerson
+44 20 7638 9571
About Noble
Noble is an independent investment bank, dedicated to helping small and mid-cap companies grow. It provides a full range of services to fast growth companies, institutions and investment vehicles, with offices in London, Edinburgh.
Noble offers high quality research, broking, investment banking and fund management services to customers in the UK and overseas.
Following the recent acquisition of Clear Capital, Noble has significantly increased its research team with nearly 30 analysts covering around 170 UK stocks across ten sectors. It is anticipated that the number of stocks and sectors under coverage will increase.
Noble has five operating companies, all of which are authorised and regulated by the Financial Services Authority.