Montanaro converts Continental European small-cap fund into income product

Follows success of UK income fund

Montanaro Asset Management is to convert an existing Continental European small-cap fund into an income product following the success of its UK Income product.

The Montanaro UK Income fund has returned more than 20% over one year to 14 December, versus an IA UK Equity Income sector average of 3.6% according to FE Trustnet. The firm has now decided to reposition its existing £83m Montanaro Continental European Small Cap fund, which was launched in 2012, with an income bias. The fund will be managed by George Cooke who currently manages the European Smaller Companies Investment Trust and has worked for Montanaro since 2010. How managers are overcoming Europe's core challenges The fund will invest in companies with a market cap of between...