Ivory & Sime UK Smaller Companies to change

Shareholders in the Ivory & Sime UK Smaller Companies investment trust will be asked to vote on a ch...

Shareholders in the Ivory & Sime UK Smaller Companies investment trust will be asked to vote on a change of name and performance objective for the vehicle at its AGM on 22 June. The board of the trust wants to alter the name to Isis UK Smaller Companies Trust and switch the benchmark index from the FTSE SmallCap (ex IT) to the Hoare Govett Smaller Companies (ex IT) index, which has a much higher exposure to FTSE Mid 250 stocks. Isis said the new benchmark will more accurately reflect the portfolio's holdings, rather than signifying a change of strategy.