5th Sep 2022 17:04
(Alliance News) - abrdn UK Smaller Companies Growth Trust PLC on Monday said Harry Nimmo plans to step down as co-manager after 37 years with Standard Life and abrdn.
abrdn UK Smaller Companies Growth is an investment fund based in Aberdeen, Scotland.
Abby Glennie, who has been co-manager of the company with Nimmo since November 2020, will be promoted to lead manager. Glennie will be supported by Amanda Yeaman, an investment director in the Smaller Companies team.
Nimmo joined abrdn in 1985, starting the Smaller Companies team in 1993. He was manager for over 19 years.
Under Nimmo's management, the company said its net assets have climbed to GBP500 million from GBP44 million in 2003.
Chair Liz Airey said: "The board has been working with Abby now for several years and is pleased to have her and Amanda responsible for the portfolio, and is confident that the strong long-term performance generated under Harry's leadership will be continued over the coming years".
Shares in abrdn UK Smaller Companies Growth closed 3.8% lower at 444.00 pence each in London on Monday.
By Chris Dorrell; [email protected]
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