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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Strategic Equity Capital (ticker: SEC) was launched in 2005 and sits in the UK Smaller Companies sector. It runs a concentrated portfolio of 15 to 25 listed companies that mostly have a market value of between £100m and £300m. SEC has net assets of £150m and usually has a net cash position so it can take advantage of any short-term opportunities it sees. The investment style is akin to private equity -- there's a high level of engagement with individual companies and more in-depth research of business fundamentals. SEC was managed by a firm called GVQ from launch until 2020 and Odyssean's Stua...
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Jonathan Davis As noted last week, our content is now being published as it is produced, with a single summary email on Saturday afternoon and a second catch up and reminder on Mondays. After Simon Barnard, the manager of Smithson, this week, I have a number of interesting Q and As coming up over the next few weeks, so please stay tuned.
On my radar I have mentioned Odyssean Investment Trust (ticker: OIT) several times as a trust I like. I shall be doing a catch up Q and A for subscribers with Stuart Widdowson, the manager, next month, but at the moment I have been digging a bit further into ...
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