At first glance, European smaller companies look expensive. They trade on a two-year forward earnings-per-share multiple of 15.8x, against their 15-year average of 13x.
Co-manager alongside Adrian Bignell
Due to 'strong interest' from investors
Helped by strengthening US dollar
Evolution of the Economic Advantage process
Do not receive the funding required to grow
The Brexit vote, slowing global growth and unprecedented policy measures by central bankers mean there is significant uncertainty about what the future holds at a macroeconomic level - and there is good reason for investors to remain vigilant.
Increased focus on small and mid caps
Overuse of antibiotics around the globe has created a worrying increase in resistance to many commonly used drugs, writes Carl Harald Janson, lead manager on the International Biotechnology trust.
Co-manager Arnold will take lead role
Will join in September
Winners announced on 7 July
Positioning for Brexit
Technology stocks featured
How the US domestic recovery is fostering small-cap innovation - regardless of presidential politics
Following a volatile few months, four fund managers discuss their outlook for small caps in the US and the UK, and where they believe the best sources of growth will be in 2016.
William Tamworth joined last year
Did not expect the RMB to hold up
Funds investing in Japan, Europe and smaller companies were among the best performers in 2015 across sectors, but which strategies topped the chart and who struggled?
Follows success of UK income fund
Nimmo commits to another seven years on Standard Life UK Small-Cap trust; new discount policy introduced
Managed the trust for the last 12 years
Nimmo's trust top of sector over decade
Funds handed to Harry Nimmo
Ex-journalist Bates to be co-manager
Investment trusts allocating to UK equities benefitted from an election-fuelled bounce which helped them top the performance tables in Q2, according to data from broker Winterflood.