Board

Charles Cade was appointed a Director in 2022. He was appointed Chairman on 2 December 2025. He has more than 30 years’ experience in the investment companies sector, and was ranked among the leading analysts throughout his career at Numis Securities, Winterflood Securities, HSBC and Merrill Lynch. He joined the City following an MBA, having previously worked for a consultancy firm and as an economist in the UK government. He is currently a non-executive director of Vietnam Enterprise Investments Ltd, a member of the Investment Committee of the Rank Foundation charity, and an independent consultant to interactive investor, the retail platform.

Shefaly Yogendra, PhD was appointed a Director in 2019. She was recently the COO of Ditto AI, a symbolic AI startup. She built her career in the technology industry, followed by strategic advisory work on emerging technologies, and specialises in governance, growth, risk, and decision making. She is a non-executive director of JP Morgan US Smaller Companies Investment Trust PLC. She was listed among the “100 Women To Watch” in the Female FTSE Board Report 2016.

Carolyn Sims was appointed a Director in January 2023. She is the CFO of British International Investment plc (BII), the UK’s Development Finance Institution. Before joining BII in 2020, Carolyn was CFO of the Wealth Management Division of Schroders plc and a member of its Group Management Committee. Prior to that, Carolyn was the CFO of Cazenove Capital Management Limited until its sale to Schroders in 2013. Carolyn started her career with Touche Ross & Co. where she qualified as a Chartered Accountant. She then joined Lazard where her roles included COO for Global Capital Markets and UK Finance Director.

Nick joined the Board on 1 July 2025. A Chartered Accountant, he is a non-executive Director of JP Morgan China Growth & Income Trust plc and also of The Global Smaller Companies Trust plc, where he also acts as Chair of the Audit Committee. He was formerly Chair of the Audit Committee and also Chair of Baillie Gifford Japan Trust plc and was the Managing Director of luxury Scottish cashmere businesses for 25 years, supplying major couture brands worldwide.

Wendy joined the Board on 1 July 2025. A former senior corporate partner at international law firm CMS Cameron McKenna Nabarro Olswang LLP where she specialised in advising financial services companies including investment trusts, Ms Colquhoun is a non-executive Director and the Senior Independent Director of Capital Gearing Trust plc, a non-executive Director and the Senior Independent Director of Schroder UK Mid-Cap Fund plc and a non-executive Director and the Senior Independent Director of Murray International Trust plc. She was formerly a non-executive Director and Chair of Henderson Opportunities Trust plc and a non-executive Director of Scottish Financial Enterprise.