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Marlborough UK Micro Cap Growth

Elite Rated by FundCalibre

This is a small-cap growth fund managed by the renowned Hargreave Hale team. The fund is very diversified and typically holds onto its most successful stocks. It has been one of the top performers in its sectors since it launched in 2004.

Company Description

Marlborough Fund Managers Ltd offers investments across various asset classes, ranging from UK Fixed Interest to International Equities and Exchange Traded Funds (ETFs). Holding the Elite Provider for Equities Rating, managers are hand-picked and given freedom to invest as they feel optimal in the fund’s sector.

Hargreave Hale, who are investment managers for some of Marlborough’s funds, are a merger of Hargreave Investment Management and Hargreave Hale & Co, the former having been founded in 1986. The CEO of Hargreave Hale stepped down in 2014 to focus on fund management.

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Fund Manager

The fund is co-managed by Guy Feld and Giles Hargreave. Guy has over 20 years small-cap experience. He joined Marlborough in 2003 and focuses on the technology sector and other ‘new economy’ growth companies. Giles has a wealth of experience having started his career in 1969. He is known for his ability to adapt to changing market conditions.

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A small cap therapist..… got no friends? No love in your life? Complex? Misunderstood? Come lie on my couch.

Guy Feld & Giles Hargreave - Fund Managers

The Investment Process

The fund has somewhat taken over from the Marlborough Special Situations fund, which has now become too big to invest in the very smallest companies. It invests in firms with disruptive technologies or companies who are leaders in niche markets. Guy covers technology stocks, which typically make up around a quarter of the fund and Giles looks after the more conventional businesses. Both managers use their vast array of industry contacts and their own team to uncover the best new ideas. The fund will continue to hold and often add to its best-performing stocks.

Risk

Although, investing in smaller companies is more risky, the fund is heavily diversified with over 200 holdings. This helps to protect investors from some of the stocks which inevitably don’t work.

Our Opinion

Hargreave Hale are a premier small-cap boutique and this fund has a strong team of expert stock pickers, which has consistently proven itself over almost 10 years. The UK Micro Cap Growth fund has outperformed its larger Special Situations brother (although this has also had exceptional performance) since it launched in 2004.

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