22 January 2007, Aubrey Capital Management launches its first fund, the S&W Aubrey Global Conviction Fund.

The fund aims to produce absolute returns over the longer term, investing in a concentrated portfolio of 40-50 global growth stocks.  The fund will invariably have an overweight position in Asia and Emerging Markets, as the managers believe that these markets have superior growth dynamics.  Generally, there will be a strong bias towards smaller and mid-sized stocks in developed markets.  The fund will be headed up by Andrew Dalrymple, who ran the top quartile Global Opportunities fund for First State Investments.  Andrew Dalrymple commented, "We think the Global Conviction Fund will appeal to investors who are looking for something more dynamic than a benchmark type Global product.  This is a long only fund which takes significant positions in sectors or markets where we have high conviction."

About Aubrey Capital Management

Aubrey Capital Management incorporated in Edinburgh, Scotland is a specialist investment manager with a particular focus on global growth stocks.  Founded in 2006, it is a privately held company with all of its shareholders actively involved in managing the business.  The fund itself is a UK registered UCITS 3 OEIC, and Smith & Williamson Fund Administration Limited is the Authorised Corporate Director.

For additional information:

Lesley Inglis

Aubrey Capital Management

7-9 North St David Street

Edinburgh EH2 1AW

T: 0131 524 9544

F: 0131 524 9545

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Aubrey is a trademark of Aubrey Capital Management Ltd.