Onward Opportunities (ticker: ONWD) was launched in March 2023, raising £12.75m at 100p per share. It is managed by Lawrence Hulse, who worked alongside both Richard Staveley and Ken Wotton at Gresham House before deciding to set up this trust with Dowgate Capital. ONWD invests in UK-listed companies valued at up to £250m, but it concentrates on those worth £100m or less. Like Rockwood Strategic, Strategic Equity Capital, and Odyssean, it uses what is termed a private-equity approach, taking significant stakes in 15-25 underperforming businesses where it believes it can unlock value over a 3-5...
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Consolidation = profit opportunity?
The trend towards consolidation in the investment trust sector is accelerating, as the latest spate of announcements from unloved or too small to survive trusts indicates. A useful note from Winterflood Securities this week highlights a number of other trusts that may be vulnerable to this trend. Using a series of filters, including limited liquidity, underperformance and persistent discounts, the brokers come up with a list of nine equity and five alternative asset trusts that they think could rightly be regarded as "sub-scale" and which boards might deci...
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Jonathan Davis, editor of the Investment Trusts Handbook, talks to Richard Staveley, lead fund manager at Rockwood Strategic (ticker: RKW), in this full Q&A, an extract from which was included in the Money Makers Weekly Investment Trusts podcast.
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