Fund management

Nimmo steps into new role at Aberdeen Standard

Harry Nimmo is stepping back as Aberdeen Standard Investment’s small cap boss as he takes charge of a new mid-cap fund.

He will be succeeded by deputy head of smaller companies Andrew Paisley, while Abby Glennie is to take up Mr Paisley’s old role.

After 27 years as global head of smaller companies, ASI said Mr Nimmo, pictured, “has decided it is an appropriate time to step away from people and commercial management responsibilities”.

Mr Nimmo will continue to run the ASI UK Smaller Companies fund and the Standard Life UK Smaller Companies trust as well as his other UK smaller company portfolios.

He will also oversee the launch of a Global Mid Cap strategy, due to be launched in the next quarter with co-manager Anji Shah.

In a statement Mr Nimmo said: “I’m looking forward to focusing on my UK smaller companies portfolios and working with Anjli on the new global mid cap strategy. 

“The strategy is ideally placed and will be able to leverage the team’s insights, including detailed information on strong-performing small cap stocks that have graduated to mid cap status.”

In 2015 Nimmo said he wanted to achieve a 25-year track record on his small cap strategies before retiring fully, committing him to the funds until 2022.

Devan Kaloo, global head of equities at ASI, said: “Andrew is the natural choice to succeed Harry. As deputy head of the team Andrew, alongside Harry, has played an important part in developing and growing our smaller companies business.

“Harry has an outstanding long-term track record as a smaller companies fund manager and I fully understand his desire to step away from the responsibilities of being head of the desk.”

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