Premier small-cap fund looks to large-cap firms

The number of stocks in the Premier UK Smaller Companies fund is to double and 10%-15% of the top-performing portfolio is to be invested in large caps following a change of manager. Chelverton Asset Management took over running the top-performing portfolio on 1 July from Unicorn after former manager Peter Webb decided to launch his own smaller companies unit trust (see page 5). David Horner, a director of Chelverton, who also runs BFS's Smaller Companies Dividend Trust, is lead manager on the fund and, since taking over the portfolio, has been making adjustments in order to bump up its...