Tuesday 23rd April 2024, 1.00pm – 3.30pm


1:00pm Emma Bird, Head of Investment Trust Research, Winterflood Securities presents “Discounts: Risk or Opportunity?”

1:30pm Company presentation by JPMorgan Asia Growth & Income plc

2:00pm Company presentation by Literacy Capital

2:30pm Company presentation by International Biotechnology Trust

3:00pm Andrew Latto presents Global Investment Returns 1900-2023

Emma Bird, Head of Investment Trust Research, Winterflood Securities

Emma joined the Investment Trust Research team at Winterflood Securities in September 2015, after working for the Wealth Management Association for a year, and became Head of the team in August 2022. She graduated from the University of Nottingham in 2014 with an Economics degree and is a CFA® Charterholder. Emma leads the team’s research on the Property sub-sector and also covers a range of equity investment trusts.

Company Presentation – Literacy Capital (BOOK.L)

Literacy Capital (BOOK.L) is an investment trust that was launched following the raise of £54m of capital in 2017 by Paul Pindar and Richard Pindar. It listed on the London Stock Exchange’s main market in June 2021 and is included within the Association of Investment Companies (AIC) private equity sector. Since its listing less than three years ago, it is the best performing UK-listed investment company, having generated share price returns and NAV per share uplifts in excess of 200%. Since inception, initially as a private vehicle, net assets have increased more than fivefold, without additional capital being raised. The market capitalisation is now approximately £290m.

The Company focuses on opportunities to invest for the long-term in growing private UK businesses where a clear route to creating additional value can be seen. The Directors and investment team are strongly aligned with shareholders, as they collectively own approximately 50% of the shares in the trust. BOOK also has a unique charitable objective to donate 0.9% of annual NAV to charities focused on improving literacy in UK children. More than £8.5 million has been donated or reserved for donation to charities since the trust’s creation in 2017 up until the end of 2023. For more information, please visit our website: www.literacycapital.com.

Company Presentation – International Biotechnology Trust plc

International Biotechnology Trust plc (www.ibtplc.com) offers investors access to the fast-growing biotechnology sector through an actively managed, diversified fund. Its lead investment managers scientifically trained with over 35 years of experience in this specialist sector between them. As well as investing in a wide-ranging portfolio of global quoted biotechnology stocks, International Biotechnology Trust includes a small allocation to otherwise inaccessible earlier stage unquoted investments predominantly via two of SV’s venture funds. These investments have the potential to deliver additional returns over the long term. Excellent management teams, unique innovative products and strong potential for outperformance are the key criteria for inclusion in IBT’s diversified portfolio of assets. 

In November 2023, IBT’s Board appointed Schroders to manage the trust after SV resigned to focus on its venture business. IBT’s portfolio managers, Ailsa and Marek, moved with the trust to Schroders where they continue to manage IBT with the same strategy. SV Health remains the manager of the current unquoted portfolio

Ailsa Craig, Lead Investment Manager

Managing IBT since 2006. 15 years healthcare investing, 3 years as an analyst. Previously, at Baring Asset Management as a research analyst and Insight Investment / Rothschild Asset Management (merged 2003) within the Global/US investment team. BSc Biology Manchester University

Marek Poszepczynski, Lead Investment Manager

Managing IBT since 2014.  17 years of international experience in the life sciences industry with a focus on licensing and financing. Marek has held management positions at several biotechnology companies and participated in two initial public offerings and several licensing deals. Msc Biochemistry & Industrial Management, Royal Inst of Technology, Stockholm.

Company Presentation – JPMorgan Asia Growth & Income plc

Managed by our locally based team of investment experts, JPMorgan Asia Growth & Income plc provides access to the world’s fastest growing equity market and targets predictable quarterly income without compromising its focus on growth. The strategy combines bottom-up stock selection and top-down asset allocation to deliver a portfolio that aims to consistently add value over multiple market cycles.

Emily Whiting, Executive Director

Emily Whiting, executive director, is an Investment Specialist for the Emerging Markets and Asia Pacific (EMAP) Equities team, based in London. An employee since 2005, Emily previously worked in the London Request for Proposal Group, specialising in Far East and Emerging Markets equity products. Emily obtained a BSc in Money, Banking and Finance from the University of Birmingham.

Andrew Latto presents Global Investment Return 1900-2023

Founder and Editor – Andrew Latto, CFA founded this website with the objective of providing unbiased fund analysis and views. Andrew previously worked at an equity research house and a fund manager and follows the quality investing approach.  He aims to use this background in equity research to “look under the hood” and consider the stocks that funds hold. Andrew has eight years experience at an equity research company, four years at a boutique fund manager. Qualifications held: Chartered Financial Analyst (CFA), Investment Management Certificate (IMC), Masters (MSc) Accounting & Finance, Masters (MSc) Economic History, LSE, Degree (BSc) Business Economics.

Founder message: “Stock investing is hard.  Investment funds – active or passive – are the most appropriate vehicle for the vast majority of investors.  However, fund research is often biased and of mixed quality (link).  Fundhunter’s objective is to cover funds in an easy to understand manner.”