Investment Manager

The team of six, led by the Chief Executive Giles Hargreave, has many years of experience in investing in small companies, both on the Official List and on AIM, including eight years as investment manager to a Special Situations Fund that has returned 575% over the same period* and two years as investment manager to Hargreave Hale AIM VCT 1, which has shown an 18% total return since launch*.

Since AIM was established in 1995, Giles and his team have been consistent investors in small companies with close to £400 million invested into smaller companies unit trusts*.

Awards

• Winner of Best fund over three years, Equity UK Small and Mid Caps (Lipper Fund Awards UK 2006)
• Winner of UK Smaller Companies Sector (Standard & Poor's Fund Awards 2005)
• Best Equity UK Small and Mid Caps (Reuters Lipper Awards 2005)
• Winner UK Small Companies (Moneywise Fund Awards 2004)
• Highly Commended UK Smaller Companies (Investment Week Fund of the Year Awards 2004)

Giles Hargreave

Giles, is Chief Executive of Hargreave Hale Limited. After leaving Cambridge in 1969, Giles began his career as a trainee analyst with James Capel before moving to Management Agency and Music Plc as a private fund manager in 1974. In 1986 he founded Hargreave Investment Management, which he then merged with Hargreave Hale & Co in 1988. In 1998, Giles took over as the fund manager of a Special Situations. He also manages a UK Micro Cap Fund, a UK Leading Companies Fund. Giles heads up Hargreave Hale's investment committee and chairs the weekly meetings in which the team review existing and potential investments.

George Finlay MA Oxon

George has been involved in institutional research and fund management since graduating from Oxford University in 1970. He joined Hargreave Hale in 1988 following positions at both Kemp Gee and GT Management. George, who specialises in "Old Economy" and resource companies, enjoys a particularly broad mandate that allows him to unearth thematic plays and under-researched companies, often with an international dimension.

Richard Hallett FCA

Richard qualified as a Chartered Accountant at Ernst & Young in 1994 and subsequently joined Singer & Friedlander in 1995 as a small companies fund manager. He moved to Hargreave Hale in 2005 and now co-manages the UK Leading Companies Fund with Giles whilst also deputising for him on the Special Situations Fund. He manages a substantial private mandate and runs Hargreave Hale's IHT portfolio service.

Guy Feld MA Oxon FSI

Guy, a graduate of Oxford University, has over 16 years city experience in both fund management and broking at BZW, UBS and Teather & Greenwood. Guy joined the team as a research advisor in 2003 and has a particular focus on the tech sector and other "New Economy" and growth companies.

Oliver Bedford BSc MSI

Oliver graduated from Durham University in 1995 with a degree in Chemistry . He served in the British Army for 9 years before joining Hargreave Hale in 2004. Oliver supports Giles in the management of the Hargreave Hale AIM VCTs, paying particular attention to the technical aspects of their management, the structure of the funds and their qualifying investments. Oliver supports the Marlborough Funds through the investment committee and runs the Hargreave Hale Model Portfolios.

* Source: Hargreave Hale, December 2006