Close manager has bumper year with both his two UK smaller companies vehicles

Noble-Nesbitt explains reasons behind the strong performance of both his funds

Fund manager Dereyk Noble-Nesbitt had a bumper year in 2009 with his two UK smaller companies funds – Close Special Situations and Close Beacon Investment – both generating remarkably strong returns. The $18m Close Special Situations delivered the highest returns of all IMA retail funds over 12 months with a 246.9% return to 6 January, compared to a 51.9% sector average, according to Morningstar.  The £15m Close Beacon Investment was the next best performer, up 185.8%. Noble-Nesbitt has managed both funds, which sit in the IMA UK Smaller Companies sector, since August 2006. The Clos...