Royal Crest UK Small & Mid-Cap Fund

Hunting beyond the FTSE 100: a concentrated, research-driven portfolio of quality smaller UK companies, bought at sensible prices and held for compounding income and growth.

30–50

High-conviction holdings

£150m–£4bn

Market-cap investment universe

Quarterly

Dividend payments

0.95%

Ongoing charges (OCF)

How the fund works

The UK's smaller companies are covered by fewer analysts than the blue chips, which leaves genuine mispricings for those willing to do first-hand research. This fund exploits that inefficiency with a quality-value approach: strong balance sheets, cash-generative business models and managements with skin in the game, bought when the price underestimates them.

The portfolio is deliberately concentrated at 30 to 50 holdings, so every position matters, and turnover is kept low — we invest in businesses, not tickers.

Income is a discipline as well as an outcome: dividends are prioritised and paid quarterly, and a company's willingness to pay them tells us much about its cash flow and governance.

Under-researched territory

Less analyst coverage below the FTSE 100 means more opportunities for original research to pay off.

Quality-value discipline

Robust balance sheets and cash generation, bought at prices that leave room to be wrong.

Income that compounds

Quarterly dividends with a growth bias, designed to build meaningful income over time.

Key risks

Capital is at risk; smaller companies can be more volatile than larger ones.
Small and mid-cap shares can be less liquid, which may affect prices when buying or selling in size.
A concentrated portfolio can deviate significantly from index returns, in both directions.

Charges

Entry charge: None
Ongoing charges (OCF): 0.95%
Exit charge: None
Performance fee: None

Full details are set out in the brochure, terms & conditions and key information documents, available from the team on request.

Frequently asked questions

What is the investment universe?

UK-listed companies broadly between £150 million and £4 billion market capitalisation at purchase — below the largest blue chips, above the most speculative micro caps.

How are companies chosen?

A staged process: quantitative screening for quality and value, first-hand meetings with management, balance-sheet stress testing and valuation discipline before any position is taken.

How is income paid?

Dividends are distributed quarterly. Accumulation share classes are also available for investors who prefer to reinvest.

How do I invest?

Directly or through major investment platforms. Contact the team for the current platform list and application documents.