At the end of June 2019, the IA UK Smaller Companies sector comprised of 52 funds with a combined level of assets totalling over £16bn. To meet the IA's sector requirements, funds must invest at least 80% of their assets in the bottom 10% of the UK equity market, by market capitalisation. Owing to the very nature of investing in smaller sized UK companies, funds within the sector tend to have a larger bias to domestic earnings and therefore the UK economy, versus those residing in the IA UK All Companies sector.

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