Cavendish Aim (GB00B0JX3Z52) is one of the few funds to invest exclusively in the Alternative Investment Market (Aim). Over one year it's the top performer out of 45 funds in the Investment Association UK Smaller Companies sector, and it is also within the top quartile over three. But with the uncertainties of the UK's exit from the European Union on the horizon, does its manager Paul Mumford see any difficulties arising?
"I don't think Brexit will affect my shares too much at all," he says. "The majority of companies listed on Aim are UK-based. It is doubtful whether many small-cap UK companies of the sort listed on Aim would contemplate listing in Paris or Frankfurt."
Aim attracts a unique pool of specialist investors, such as venture capital trusts (VCTs) and private investors seeking inheritance tax relief. This means it would be difficult for other European countries to replicate Aim.