Marlborough Fund Managers has launched a fund investing in companies of £75m or smaller in size, to be run by star small cap investor Giles Hargreave.
The Marlborough Nano-Cap Growth fund was launched yesterday (October 14) and has an ongoing charge of 1.52 per cent, according to Marlborough’s website.
A spokesperson for the company said the fund would be able to invest in companies with a market capitalisation of up to £100m, but it would focus on firms worth £75m or less.
Mr Hargreave will be joined on the fund by equity managers Guy Feld and David Walton. The product is likely to have a limited capacity and the spokesperson said investors should not be looking to withdraw their money within 10 years.
Mr Hargreave’s £204.6m Marlborough UK Micro Cap Growth fund - which invests in companies with a market capitalisation of £250m or less - has returned 206.4 per cent in the five years to October 14, according to FE Analytics.
His flagship £666.1m Marlborough Special Situations fund has outperformed both the IMA UK Smaller Companies sector and the FTSE Small Cap index in the five years to October 14.