Nucleus Special Sits benefits from broader market focus

Nucleus Smaller Securities struggled as small-cap fund but has enjoyed a boost following manager, mandate and name change in late 2006

Nucleus Special Situations Trust began life as a small-cap fund but changed to its current UK All companies remit last December. Current managers Mark Boucher and Rupert Fleming wanted to give the Smith & Williamson portfolio greater flexibility when they took over responsibility at the end of 2006. The fund launched in May 1985 and has had a series of managers including David Wood, Robert Sanders, Simon Warren and Victoria Calcott. As a smaller companies vehicle, the fund struggled to perform. The cumulative return over five years to 31 May was 62.3% bid to bid compared to a composite i...