The Numis Smaller Companies Index is the most widely used UK smaller companies benchmark. It was created by Professor Elroy Dimson and Professor Paul Marsh of London Business School, who have been instrumental in promoting a global understanding of the smaller companies effect that traces the long term outperformance of smaller companies. In recent years Numis has extended its range of indices to include the Numis UK Mid Cap index and the Numis Alternative Markets index. The Numis indices are compiled by Paul Marsh and Scott Evans at London Business School.

The Numis Smaller Companies Index was first published in 1987, with a back-history dating from 1955. Distributed by Numis since 2012, the primary index has 696 constituents that comprise the bottom 10% of the UK main listed market by value. Over 1955-2019, the Numis Smaller Companies Index ex Investment Companies total return beat the FTSE All-Share by 3.3% pa.. 

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