Apostle Asset Management has targeted the global small and mid-cap equities market by allying with a specialist offshore manager.

Highclere International Investors, an international small-mid equities boutique with offices in London and Connecticut, will be teamed with Vaughan Nelson, a small-mid manager based in Texas which already features in portfolios built by Apostle, for the Apostle global small and mid-cap fund. Debbie Alliston, investment director at Apostle, said the small-mid universe was not intensively researched and opportunities could be found throughout market cycles. “The strategy is appropriate at all times if you’ve got active managers,” Alliston said. “The managers are not just confined to small-caps; they can move up the market capitalisation scale.” Highclere and Vaughan Nelson will be in Australia for the product launch next month.