Small cos benefit most from rally

Top 10 results in the UK Smaller Companies sector have been achieved on vehicles run by Gervais Williams and Frank Manduca, both of whom have gained from the equity upturn

UK Smaller Companies funds have posted impressive returns since the equity upturn began six months ago, with even the weakest performers managing to grow by 30%. Among the strongest growth figures have been those posted by Gervais Williams, manager of the Gartmore UK & Irish Smaller Companies fund, and former colleague Frank Manduca, with the UBS UK Smaller Companies fund. Manduca ran the Gartmore UK Smaller Companies unit trust from 1994, which performed strongly until 1998. However, James Tew, head of fund ratings at S&P, said the figures began to decline in 1999, when Manduca was slo...