Barings to close UK Smaller Companies trust

Barings is to close its UK Smaller Companies Trust as it is unlikely to attract further investors in the short term.

Ian Pascal, head of marketing at Barings, says the £37m fund is "unlikely to grow in the foreseeable future", so the groupn has taken the decision to close the vehicle in June. Nick Williams, manager of the fund and head of small caps at the group, will continue in his role. He also runs the £521m Europe Select trust, which sits in the European Smaller Companies sector. Barings is offering investors free switches into other funds in its range.