Investment Week has a story that UK smaller companies fund managers George Ensor and Mayan Uthayakumar – who both quit Liontrust recently – are off to work for Jupiter Asset Management.
Ensor’s surprise departure triggered a short-lived drop in River UK Micro Cap‘s (RMMC) share price. However, investors appeared reassured that he would continue to manage the trust for the time being.
It seems likely that the RMMC board will consider transferring RMMC’s management contract to Jupiter.
As I flagged in last week’s QD view, RMMC is amongst the best-performing UK small-cap trusts over the past year, with the shares not far off their pre-Iran-war highs, despite trading on a 12% discount to net asset value.
