Investors in UK smaller companies have endured a perfect storm in recent years, with returns depressed by persistent fund outflows and the significant underperformance of the AIM index. This presents us with some outstanding investment opportunities across a range of high quality UK companies. With global investors recently questioning the dominance of US equities in their portfolios and UK capital market reforms now increasingly likely , we provide an update on why we believe that the WS UK Listed Smaller Companies Fund is ideally placed to capture the upside.