Summary
STANDARD Life's UK smaller company starmanager Harry Nimmo has trimmed his stake in his largest single holding, online clothing retailer Asos from 8,078,618 shares to 7,978,618 or 10.9% of the total, worth Pounds 29.99 million. Citywire AA-rated Nimmo typically pursues a buy-and-hold investment strategy and the move is unlikely to represent trader-style profit-taking on the back of a recent sharp rally but rather to signify a broader rebalancing of the fund in light of the small-cap recovery and greater liquidity. Nimmo has held the retail clothing phenomenon since 2006. It has exploded into public consciousness in the last year as one of the low-cost winners of the recession. Small caps have been the biggest beneficiary of the recent rally, with data showing that listed funds in the sector saw their share prices rise 25% over the last quarter.
David Campbell: citywire.co.ukSee the full content of this document
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