Nimmo labels latest rally a ‘dash for trash'

Standard Life Investments' top performing small cap manager Harry Nimmo has labelled the recent rally in the small cap index as a 'dash for trash' after seeing his fund slip down the rankings.

Nimmo, who heads up the group's £1bn UK Smaller Companies fund, said the gain in the FTSE Small Cap index exemplifies the ‘dash for trash' nature of the risk recovery rally, having climbed nearly 15% since the end of 2011. The manager expects market fundamentals will return to the fore in the second half of the year, benefiting under-owned quality growth business, with many of the recent winners facing longer-term problems. "By the second half of the year the dash for trash rally will be over. Once stocks have recovered they cannot recover again so investors will begin to worry about ...