Marlborough UK Micro-Cap Growth Fund Class P Acc
UK Smaller Companies
Rated Fund 2013-2018. Taps into almost 300 'micro' companies
This fund has been run since inception in 2004 by Giles Hargreave, a highly experienced smaller companies specialist. His co-manager for the last six years is Guy Field.
It invests in companies with a market capitalisation of £250 million or less at the time of purchase. In fact, a considerable proportion of the portfolio is invested in 'micro' companies of less than �150 million. Companies at this end of the size spectrum are at higher risk of failure than more established firms, but the managers offset this risk by holding a diversified portfolio of almost 300 holdings.Hargreave and his team analyse each company carefully. They very rarely invest in a company without meeting the management face-to-face. Hargreave says choice is a great advantage of investing in small companies. The Aim, FTSE Small Cap, FTSE Fledgling and FTSE techMark indices include more than 1,000 companies operating in many different fields.He and Field are backed by a large team undertaking primary research, trying to uncover the best opportunities before the rest of the market. As part of the process they meet more than 25 companies every week.They like companies that are operating in niche markets, without too many competitors. But these companies also need to have good managers, strong balance sheets and good free cash flow. The managers try to identify companies that will continue to produce good results, and will run their winners rather than taking profits early. Although they keep economic trends in mind, they are focused foremost on the health of their companies.
Narrative and ratings content all as of 01 January 2018.See all Money Observer rated funds
|Learning Technologies Group PLC||2.30 %|
|Huntsworth PLC||1.79 %|
|IMImobile PLC||1.74 %|
|accesso Technology Group PLC||1.49 %|
|Focusrite PLC||1.38 %|
|Quixant PLC||1.21 %|
|Draper Esprit PLC||1.21 %|
|GB Group PLC||1.14 %|
|Next Fifteen Communications Group PLC||1.14 %|
|RWS Holdings PLC||1.11 %|
|United Kingdom||89.83 %|
|Consumer Cyclical||24.25 %|
|Financial Services||9.98 %|
|Basic materials||8.19 %|
Guy, a graduate of Oxford University, has over 20 years' City experience dedicated to the research and fund management of small and mid-cap equities. He joined the investment team in 2003 and has a particular focus on the tech sector and other "New Economy" and growth companies. Guy co-manages the Marlborough UK Micro-Cap Growth Fund with Giles Hargreave.
Giles Hargreave is Chairman of Hargreave Hale Ltd. After starting his career in 1969 as an analyst with James Capel, Giles joined Management Agency and Music as a private fund manager in 1974 before founding Hargreave Investment Management in 1986. Giles then merged Hargreave Investment Management with Hargreave Hale & Co, a provincial stockbroking firm controlled by other members of his family, in 1988 and took over as Chief Executive. Giles chairs the investment committee's weekly meetings in which the team reviews existing and potential investments.
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