Chrysalis Investments (CHRY) was launched in late 2018 in a £100m IPO and it raised a further £730m from investors over the next few years. CHRY is a 'crossover' fund meaning that while it primarily invests in private companies, it is happy to keep holding them should they later list on the stock market. It has a highly concentrated portfolio of around 15 high-growth investments, the best-known being Klarna (which might be listed later this year), Starling, and Wise. A wide discount to NAV of over 60% opened up during 2022 and 2023 when the valuation of CHRY's portfolio was subject to consider...
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This is the third article from a new contributor. Reg Hoare has worked for 30 years in the City, initially in investment banking and the securities business, latterly as managing director of MHP Communications. He has been investing in investment trusts as a private investor for more than three decades. Here he reflects on his large number of holdings in the smaller company sector.
Reg Hoare Doubling down (part one) Having revealed in several online events over the last year that I hold multiple investment trusts in a single AIC sector, I am often asked why wouldn’t one just hold a single t...
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This is the second article from a new contributor. Reg Hoare has worked for 30 years in the City, initially in investment banking and the securities business, latterly as managing director of MHP Communications. He has been investing in investment trusts as a private investor for more than three decades. Here he reflects on his holdings in private equity and growth capital.
Reg Hoare Mavericks Two of the worst performing investment trust sectors in the 2022 market sell off have been growth capital and private equity; this has been rather painful, if like me, one holds a significant weightin...
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