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For investment professionals only

The information in this area of the website is aimed at investment professionals in the United Kingdom and it is not intended for direct use by private investors or onward distribution to retail clients or the general public. Please visit our Wealth Management home page for information and resources for private clients.

The website is for information purposes only and is not to be construed as a solicitation or an offer to purchase or sell investments or related financial instruments.

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Specialist fund management in UK small-cap and multi-cap equities

Our highly experienced team here at Canaccord Genuity Fund Management (CGFM) provide UK small-cap and European (including the UK) multi-cap investment management expertise as a specialist, outsourced provider to the industry.

If you are a private client and would like to know more about investing in UK small-caps with Canaccord Genuity Wealth Management, please click here.

CGFM's most significant mandate is in support of Marlborough Fund Management. We have a long-standing relationship and run several of their funds, including some of their UK small-cap and multi-cap investment strategies. We help to offer more breadth in terms of markets, asset classes and investment styles for their clients, while Marlborough's in-house specialists handle all the administrative, sales and marketing functions for their funds.

This is a particularly niche and higher risk area of investment management and so outsourcing specialist UK small-cap and mid-cap stock selection and investment management can be an ideal and cost-effective solution. Leaving our experts at Canaccord Genuity Fund Management to focus on identifying investment opportunities and investment performance, it allows Marlborough to concentrate on servicing their clients’ needs to achieve better client retention and share of wallet.

About us

Canaccord Genuity Fund Management is the trading name of Hargreave Hale Limited (HHL) and is part of Canaccord Genuity Wealth Management (CGWM) in the UK, with roots dating back to 1897. In September 2017 the firm became part of CGWM and a wholly owned subsidiary of Canaccord Genuity Inc.

Canaccord Genuity Fund Management manages several external investment management mandates including a range of Unit Trusts and OEIC’s for Marlborough Fund Managers, as well as the Hargreave Hale AIM VCT. These mandates are predominantly UK-driven, with a particular focus on the UK small-cap sector where the team has developed market-leading experience and expertise under the leadership of Richard Hallett.

The award-winning team follows a well-established investment process and philosophy, and have extensive experience in outsourced investment management, particularly within small-cap investing and manages under contract £6.6bn of assets (as at 30 September 2021).

Canaccord Genuity Fund Management investment mandates

The investment mandates managed by Canaccord Genuity Fund Management include:
• Marlborough Special Situations Fund
• Marlborough Micro-Cap Growth Fund
• Marlborough Nano-Cap Fund
• Marlborough Multi-Cap Income Fund
• Marlborough Multi-Cap Growth Fund
• Marlborough Multi-Cap European Fund
• Marlborough Extra Income Fund
• Marlborough Global Innovation Fund
• Hargreave Hale AIM VCT plc.

Hargreave Hale AIM VCT plc

The Canaccord Genuity Fund Management team have been managing the Hargreave Hale AIM VCT since 2004. The lead manager is Oliver Bedford, who is supported by Lucy Bloomfield (co-manager).

Along with the scale of the investment in small companies and their track record, the breadth of the team and their reach into the market help attract Qualifying Investment deal flow.

For more information about the Hargreave Hale AIM VCT, click here.

Risks specific to VCTs: VCTs will invest in small, high-risk companies. These qualifying companies may have volatile share prices and the investments may be difficult to realise. They may be overly reliant on a few large customers and have less financial resilience. They may also have weak or negative cash flow and less management resource.

Our people

Latest news

For the Canaccord Genuity Fund Managers’ latest views and market commentary about the Marlborough Funds they manage, please visit the Marlborough Fund Management website.

Marlborough Fund Management website

To contact the Canaccord Genuity Fund Management team, please email:


Investment in smaller companies, including AIM stocks, carry a higher degree of risk than investing in more liquid shares of larger companies, so they may be difficult to sell at the time you choose. Investments in smaller companies are more volatile and, while they can offer great potential, growth is not guaranteed.

IMPORTANT: Investment involves risk. The value of investments and the income from them can go down as well as up and you may not get back the amount originally invested. Past performance is not a reliable indicator of future performance.