JPMorgan UK Smaller Companies (ticker: JMI) was launched in 1990. It was run by River & Mercantile up until 1996 and then the mandate was taken over by Robert Fleming & Co., which later became part of JPMorgan. Georgina Brittain has worked on JMI since 1998 and managed the trust since 2003; Katen Patel joined her as co-manager in 2014. Over the last twenty years, JMI has produced an annualised NAV return of 11.3%, well ahead of the 6.5% produced by its benchmark. Like most UK small-cap trusts, it has a growth/momentum bias and its share price has been volatile over time with several la...