Long career ends

Funds veteran Nimmo to retire from Abrdn

Harry Nimmo

Harry Nimmo, one of the longest-established investors in UK smaller companies, will retire at the end of this year after a 38-year career.

Mr Nimmo stepped down from his position as head of smaller companies at abrdn in February 2020 but remained manager of the £1.5bn UK Smaller Companies fund and £523m UK Smaller Companies Growth trust.

He will be succeeded by Abby Glennie who will remain manager on all UK Smaller Companies products, and will be joined by Amanda Yeaman, who will be promoted to deputy next January. 

Ms Glennie has been working with Mr Nimmo on the UK Smaller Companies funds for almost seven years, having been named co-manager in November 2020.

Mr Nimmo joined Standard Life, the predecessor company, in 1985 and created the smaller companies team in in 1993. 

In the 10 years to the end of July, Nimmo’s flagship UK Smaller Companies strategy has returned 183.4%, outperforming a sector average of 172.1%.

Andrew Paisley will continue to lead the smaller companies team, supported by Glennie as his deputy.

Commenting on his departure, Mr Nimmo said: “I would not have stayed at Abrdn for more than 37 years if I hadn’t enjoyed myself working with many colleagues that have become friends.

“I value stability and continuity highly, both in our investment process and in providing a robust framework that will enable our small/mid-cap strategies to deliver continued long-term performance for our clients long after I have gone.”

Mr Paisley wished Nimmo a “very well deserved, happy and long retirement’, and said it had been a ‘privilege to work with Harry over the last eight years”. 

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