Mr Nimmo replaces Alan Rowsell, investment director, who has resigned from the fund along with investment analyst Imogen Harris.

Kirsty Desson will continue as co-manager of the fund.

Mr Nimmo also manages the ASI Smaller Companies fund, which was named the UK’s number one for returns last year by Morningstar. He also heads up the Standard Life UK Smaller Companies Trust, which outstripped its reference index in 2019. 

ASI Global Smaller Companies has outperformed its benchmark over the last five years and has recovered its losses since stock markets plummeted in early March at the start of the coronavirus crisis.

Andrew Paisley, head of smaller companies at ASI, commented: “Harry and Kirsty have extensive experience of the strategy and global smaller companies markets. 

“Harry launched the strategy in 2012 and was co-manager on the strategy between 2012 and 2017.  Kirsty is a highly experienced portfolio manager and has been a key member of the Smaller Companies Team since 2012.  She has been an important contributor to the Global Smaller Companies Fund and has generated some of the best ideas for the strategy.  She has worked in the industry for over 16 years.  

“We will continue to invest in the team. We will be recruiting a replacement investment analyst for Imogen’s responsibilities, and as already planned an investment analyst to provide both ESG support and help cover Southern Europe. This will further enhance our research capability.”