Harry Nimmo, head of smaller companies at Standard Life, has doubled his Global Smaller Companies fund’s exposure to global emerging markets.
The fund launched in January with a 6% exposure to global emerging markets. Nimmo has increased this to 12% compared with the 8% benchmark in the MSCI All Country World Small-cap index.
He says: “We have a 7% exposure to the Philippines, Indonesia and Thailand. We are getting more buys out of these markets than any other markets. Consumer spending and the development of consumer markets, alongside urbanisation, is a big story in these countries.”
Nimmo has added a 1% position in Thai department store Robinsons, 1% in Thai property developer L.P.N. Development and 1% in Indonesian property developer Alam Sutera Realty.
Peter Lowman, chief investment officer at Investment Quorum, says: “I would expect this fund to have a 12% exposure to emerging market smaller companies. We have had a good run in global markets this year and emerging markets have been a star performer.”