SLI to soft-close Nimmo's Smaller Companies fund

In a letter sent to clients this morning, the group said it is seeking to quell soaring inflows, allowing Nimmo more flexibility to hold meaningful positions in small-cap stocks and prevent liquidity problems. Jacqueline Kerr, the group's head of UK wholesale, said the soft-closure will be implemented by charging new investors a full initial charge of 4%. She added the soft-closure will be implemented by charging new investors a full initial charge of 4%. "We have taken this decision in the interests of protecting existing investors, ensuring the flexibility of this mandate to inve...