Seeking long-term growth potential

The £20.7m Stewart Ivory European Smaller Companies unit trust is overweight in the electronics sector The fund is also overweight in machinery and engineering against the HSBC James Capel Smaller European Companies benchmark, although exposure to these areas has been trimmed back from a double index weighting in each sector two years ago Jimmy Burns, fund manager at Stewart Ivory, said the reduced exposure was in response to the strength of the Swiss and former German currencies, along with recovery in Asia, making these companies less competitive internationally He said: "We have, howe...