Mercantile (ticker: MRC) traces its origins back to 1884 and it has been focused on UK medium-sized and smaller companies for the last three decades. Guy Anderson of JPMorgan has looked after the portfolio since 2012, initially as a co-manager and then as the lead manager from 2019 onwards. Mercantile is a very large trust with over £2bn in assets and it holds around 70 positions with around 80% of its portfolio consisting of companies in the FTSE 250 'mid-cap' index. The remaining 20% is split between companies in the lower reaches of the FTSE 100 or at the upper end of the FTSE SmallCap and ...