Alexander Fleming Appointed as New Fund Manager
Foreign & Colonial Smaller Co's PLC
15 February 2000
Foreign & Colonial Smaller Companies PLC
appoints new fund manager
Foreign & Colonial announces that Alexander (Sandy) Fleming has been appointed
as manager of Foreign & Colonial Smaller Companies PLC, the £350m
international smaller companies investment trust. Fleming will succeed Andrew
Barker, who has been the manager since 1975, when he retires on 31 March 2000.
Fleming joined Foreign & Colonial in 1996 at the time of the acquisition of
ESN Pension Management Ltd where he had been head of UK Small companies. His
investment career began at the Unilever Pension Fund in 1964. From 1972-82,
he was a fund manager for Commercial Union Assurance, and subsequently held a
number of senior investment management positions at Hill Samuel Investment
Management, National Employers Mutual Insurance, the Abu Dhabi Investment
Authority and MANEX prior to its asset management business being acquired by
ESN in 1993. In addition to heading up the UK Small Companies team at Foreign
& Colonial Sandy is Chairman of the global sector review committees that
include Telecommunications and Technology, both areas with particular topical
relevance. He is an associate of the Chartered Institute of Secretaries and
Administrators.
Commenting on this appointment, Baroness Hogg, Chairman of Foreign & Colonial
Smaller Companies, said:
'We are delighted to appoint Sandy as fund manager. He has vast experience
of investment in general and smaller companies in particular. We would like
to thank Andrew for his valuable contributions and achievements over the past
twenty-five years. An investment of £1,000 made when he became manager would
now be worth in excess of £37,000 - an annualised return of over 15.5%. Over
the past year both the NAV and the share price
have risen by around 50%.'
Fleming will be supported by an experienced team of smaller company
specialists in each major geographical area and the intention is to continue
the successful strategy of utilising the trust's global perspective to exploit
opportunities in the smaller company universe.
For further information please contact:
Sandy Fleming, Foreign & Colonial Tel. 0207 628 8000
Claire Barry, Financial Dynamics Tel. 0207 831 3113
Notes to Editor
Foreign & Colonial Smaller Companies PLC, was launched in 1889, with the
objective of securing a high total return by investing in smaller companies
worldwide.
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