Montanaro UK Smaller Companies (MTU) invests in three areas currently out of favour: the UK, small caps, and high-quality companies. While its portfolio companies are still growing revenues and earnings, this is not reflected in their share prices, which has hurt MTU’s performance. The manager believes patient investors will be rewarded over time. Meanwhile, MTU offers an attractive dividend yield, helping to keep its share price discount to NAV relatively narrow. Large withdrawals from the U ....