By Jennifer Hill, Citywire Investment Trust Insider, 21 February 2025:
The curtain has finally fallen on Downing Strategic Micro-Cap (DSM), the UK smaller companies trust that is now worth little over £2m.
At a general meeting, 98.3% of shareholders voted to liquidate the portfolio, with just 1.7% voting against..
It is a far cry from the £54.5m that private equity specialist Downing raised for the May 2017 launch of Downing Strategic, its first micro-cap investment trust. The sum was above the initial target of £35m.
James Carthew, head of investment company research at QuotedData, said: ‘It’s a shame to see it go. I had high hopes for it when it launched, but professional investors have shied away from very small companies.’
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