Framlington favours small caps

Brian Watson, manager of the Framlington Innovative Growth investment trust, has geared up for the first time due to his optimism on the prospects for UK smaller companies going forward. Watson has arranged a bank debt facility of £20m, of which £8m is fixed and £12m is revolving. He has already taken down £8m, as a three-year loan, and while the other £12m has not been utilised, Watson said it will be when he feels the time is right. Watson said: 'The UK domestic economy is the envy of Europe and the purest way to play this is through smaller companies. Smaller companies is a place to ...