Ashish Swarup, the lead Stewart Investors fund manager working on ScotGems PLC, has resigned.
Edinburgh-based ScotGems invests in small cap companies listed on global stock markets across a range of sectors. Small cap companies are defined as those with a market capitalisation of less than $2.5 billion at the time of investment.
The portfolio will typically range between 20 and 30 holdings in normal market circumstances.
The investment management team of Ashish Swarup and Tom Allen have worked together on the company's portfolio since its launch in June 2017.
Tom Prew has now assumed the role of lead manager with Allen continuing as co-manager. Prew joined the manager in 2006 and is a lead manager of funds and mandates across GEM, Latin America and Frontiers markets. The board has thanked Swarup for his contribution to the company.
The company's share price was down 0.63% today at £78.50.
