Aberforth's small-cap manager Ross to retire from boutique

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Aberforth founder and fund manager David Ross is to retire in May 2014 after leading the firm for nearly 25 years, Investment Week understands.

Ross, who launched the firm in 1990 with colleagues and is a partner in the group, is co-manager of the £1.1bn Aberforth Smaller Companies trust, the £291m Geared Income trust and the open-ended £217m UK Smaller Companies fund. It is understood that managers Alistair Whyte, Richard Newbery, Andrew Bamford, Euan Macdonald and Keith Muir will all continue in their roles co-running the three vehicles, with Muir expected to be promoted to partner after Ross's departure. Aberforth's value-orientated style has proved popular with fund buyers, with notable supporters including J.P. Morgan As...

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