An update from our co-managers, Abby Glennie and Amanda Yeaman - 8 December 2021
UK equities started the month strongly, boosted by robust corporate results. However, they began to decline as cases of the new Omicron variant of Covid-19 began to spread in the UK and globally. This sparked fears around vaccine efficacy and the return of restrictions. Concerns about rising inflation and less-supportive monetary policy also dented sentiment.
Alongside their developed-market peers, UK shares fell overall as the FTSE AllShare Index delivered a total return of -2.2%. Smaller and mid-sized companies underperformed the FTSE 100 Index, with a weaker sterling benefiting larger companies that derive most of their revenue overseas. Real estate, communication services and utilities were the notable outperformers in terms of sectors, while energy and consumer discretionary lagged. The financial sector also fell, with the rise in bond yields weighing on banks.
Abby Glennie is an Investment Director at abrdn. She is responsible for UK Opportunities, Smaller Companies Pension Fund, and Bothwell Smaller Companies fund. Abby joined the company in 2013 from Kames Capital where she was an Investment Analyst
Abby graduated with a joint 1st MA, in Economics and Finance from University of Aberdeen and is a CFA charterholder.
Amanda is an Investment Manager at abrdn. Amanda is responsible for providing research support predominantly for our UK Smaller Companies strategy but also to the wider Smaller Companies team. Amanda Joined the company in June 2019 from Investec Securities where she was a small and mid-cap equity sales specialist.
Investment Director
Abby Glennie is an Investment Director at abrdn. She is responsible for UK Opportunities, Smaller Companies Pension Fund, and Bothwell Smaller Companies fund. Abby joined the company in 2013 from Kames Capital where she was an Investment Analyst
Abby graduated with a joint 1st MA, in Economics and Finance from University of Aberdeen and is a CFA charterholder.
Investment Manager
Amanda is an Investment Manager at abrdn. Amanda is responsible for providing research support predominantly for our UK Smaller Companies strategy but also to the wider Smaller Companies team. Amanda Joined the company in June 2019 from Investec Securities where she was a small and mid-cap equity sales specialist.
Robert Lister, appointed in March 2012, is a non-executive director of Investec Wealth and Investment Limited. He has over 20 years' experience of investment management and formerly global head of equities at Dresdner Kleinwort and head of European equities at Barclays de Zoete Wedd.
Rosalyn is a Corporate, Funds and Financial Services Lawyer. She is a Partner at Simons Muirhead Burton and is Head of Funds and Private Wealth, with 30 years' experience working in private practice investment banking and at a multi-family office. Rosalyn has a particular interest in how financial regulation and financial policy work alongside ESG, diversity and inclusion and she regularly writes and speaks on these matters. She is a Non-Executive Director of Lanware Limited and Global Fund Media Limited.
David Fletcher, appointed on 1 August 2016, is Group Finance Director of Stonehage Fleming Family & Partners, a leading independently owned family office, having joined in 2002. Prior to that, he spent 20 years in investment banking with JPMorgan Chase, Robert Fleming & Co. and Baring Brothers & Co Limited, latterly focused on financial services in the UK (asset management and life insurance). He started his career with PricewaterhouseCoopers and is a chartered accountant. He is also an independent non-executive director of JP Morgan Claverhouse Investment Trust plc.
Dagmar Kent Kershaw, appointed on 2 May 2017, has over 20 years’ investment experience specialising in credit and structured finance markets. She was Head of Credit Fund Management for Europe and Asia-Pacific at Intermediate Capital Group from 2008 until 2016. Prior to that she was the founder and Head of Structured Products at Prudential M&G and was also Head of Debt Private placements. Her previous experience in credit markets included roles at Scotiabank and NatWest Bank.
Christopher, has over 30 years’ experience in investment management, having been an investment manager at Newton Investment Management from 2006-2017, and prior to that at Schroder Investment Management and Henderson Administration Group.
He is currently a non-executive director of Martin Currie Global Portfolio Trust plc and JP Morgan US Smaller Companies Investment Trust plc.
Chairman
Robert Lister, appointed in March 2012, is a non-executive director of Investec Wealth and Investment Limited. He has over 20 years' experience of investment management and formerly global head of equities at Dresdner Kleinwort and head of European equities at Barclays de Zoete Wedd.
Independent Non-Executive Director
Rosalyn is a Corporate, Funds and Financial Services Lawyer. She is a Partner at Simons Muirhead Burton and is Head of Funds and Private Wealth, with 30 years' experience working in private practice investment banking and at a multi-family office. Rosalyn has a particular interest in how financial regulation and financial policy work alongside ESG, diversity and inclusion and she regularly writes and speaks on these matters. She is a Non-Executive Director of Lanware Limited and Global Fund Media Limited.
Independent Non-Executive Director
David Fletcher, appointed on 1 August 2016, is Group Finance Director of Stonehage Fleming Family & Partners, a leading independently owned family office, having joined in 2002. Prior to that, he spent 20 years in investment banking with JPMorgan Chase, Robert Fleming & Co. and Baring Brothers & Co Limited, latterly focused on financial services in the UK (asset management and life insurance). He started his career with PricewaterhouseCoopers and is a chartered accountant. He is also an independent non-executive director of JP Morgan Claverhouse Investment Trust plc.
Independent Non-Executive Director
Dagmar Kent Kershaw, appointed on 2 May 2017, has over 20 years’ investment experience specialising in credit and structured finance markets. She was Head of Credit Fund Management for Europe and Asia-Pacific at Intermediate Capital Group from 2008 until 2016. Prior to that she was the founder and Head of Structured Products at Prudential M&G and was also Head of Debt Private placements. Her previous experience in credit markets included roles at Scotiabank and NatWest Bank.
Independent Non-Executive Director
Christopher, has over 30 years’ experience in investment management, having been an investment manager at Newton Investment Management from 2006-2017, and prior to that at Schroder Investment Management and Henderson Administration Group.
He is currently a non-executive director of Martin Currie Global Portfolio Trust plc and JP Morgan US Smaller Companies Investment Trust plc.
| Year End | 31 December |
| Accounts Published | May |
| Annual General Meeting | April |
| Dividend Paid | January, April, July, October |
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