Baring Asset Management has recruited Andrew Neville from AIB Govett Asset Management to co-manage the Baring UK Smaller Companies fund.
Neville, who took up his new post last month, now manages the £72.5 million (Baring UK Smaller Companies) fund with Susannah Lloyd, who has run it since April 1998.
It holds an A performance rating from Standard & Poor's Fund Services, out of a maximum of AAA, and a silver medal from Lipper ARC, the third best of four medals awarded by the ratings body.
Neville ran the £22.5 million (Govett UK Small Cos) fund with Julian Cooke between January and November 2000. The fund fell 8% over the period, compared with a rise of 1.1% among funds in the UK Smaller Companies sector. It holds an A performance rating.
Warren Perry, an investment adviser at Whitechurch Securities, told Citywire neither the Baring nor Govett smaller company funds figured among his preferred choices for UK small-cap exposure.
‘They’re two funds that don’t really warrant that much attention [and as to Neville’s appointment] we have to wait to see the proof of the pudding,’ Perry said.
The £35 million (Standard UK Small Cos Retail) fund was one of Whitechurch Securities favoured picks for small-cap exposure. The fund holds a AA rating, out of a maximum of AAA, from Standard & Poor’s Funds Services.