Aberforth UK Smaller Companies and Close Brothers won the ‘Smaller Companies Fund of the Year’ award and the ‘VCT Group of the Year’ award, respectively, at the 2003 Growth Company Awards Ceremony in April. The winners were chosen for overall performance and general expertise in their sectors.
The shortlist for the Smaller Companies Fund of the Year award was worked out by analysing the performance of UK smaller company unit and investment trusts over a three-year period in terms of their net asset value.
To qualify for the best VCT group award, an organisation had to operate at least two funds, each of which had to be running for at least two years. The best performers were established by studying their average total returns (net asset value and dividend payments). Any exceptional or unsustainable performances were then removed to leave the final shortlist. Baronsmead was runner-up for the award.