Defensive stance benefits UK small-cap managers

Typical names top sector over three years and also lead during credit crunch, thanking increasingly defensive stance and quality over cyclical focus

Defensive players have crept to the top of the UK Smaller Companies sector over three years although it remains the playground of familiar bottom-up stockpickers. Household names Harry Nimmo, Dan Nickols and Richard Plackett reign supreme in terms of three-year performance, as was the case before market volatility took hold last year. Within these top tiers, Old Mutual star Nickols has been knocked from the top spot by Standard Life veteran Nimmo. This is because Nickols' more bearish view has triggered a more defensive stance that has missed out on modest recent rallies in areas such...