Lead manager update

RNS Number : 2937F

River & Mercantile UK Micro Cap Inv

19 February 2018

 

19 February 2018

River and Mercantile UK Micro Cap Investment Company Limited

(the "Company")

Lead manager update

The Board of the Company makes this statement in response to the announcement from River and Mercantile Group PLC ("RAMAM") dated 7 February 2017 that Philip Rodrigs had ceased to be lead manager of the Company.

As stated in RAMAM's announcement, responsibility as principle portfolio manager Company has been passed to George Ensor and RAMAM is confident that George will maintain the Company's successful track record.

While Philip Rodrigs was the principal portfolio manager at RAMAM, he was supported by a team, including George Ensor, who has worked with Philip on the investment process since the Company was launched in 2014 and with whom the Board has interacted previously.

We also recognise that RAMAM has used its proven PVT investment philosophy to manage the portfolio since the Company was established and that this process has been partly responsible for driving the strong NAV performance of the Company. The PVT system will continue to be used in future.

As an independent board, immediately we were notified of the change of lead manager, we commenced a process to confirm for ourselves that George Ensor is suitable to act as lead manager. The Board is satisfied that the MicroCap team, now led by George Ensor, should maintain its position as portfolio manager. In line with our normal practice we will continue to monitor portfolio management arrangements.

Enquiries:

Jasper Cross

BNP Paribas Securities Services S.C.A., Guernsey Branch

Tel: [phone]

Joe Winkley/Neil Morgan

Winterflood Securities Limited

Tel: [phone]

 

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