Tuesday 27th February 2024, 1.00pm – 3.30pm
Programme
1:00pm Keynote presentation from Edmund Shing
1:30pm Company presentation from Ocean Dial and the India Capital Growth Fund
2:00pm Company presentation from River and Mercantile UK Micro Cap
2:30pm Andrew Latto presents ‘Fundsmith – Thirteen Years On’
Company Presentation – River and Mercantile UK Micro Cap Investment Company
Launched in 2014 the River and Mercantile UK Micro Cap Investment Company looks to achieve long-term capital growth from investment in a diversified portfolio of UK Micro Cap companies, typically comprising of companies with a free float market capitalisation of less than £100 million at the time of purchase. The closed end structure is critical to exploit the liquidity premium and the Company has a unique redemption mechanism, which returns capital to shareholders when the fund exceeds the optimal size. Through the capital redemption mechanism, the fund has returned over £76m to investors since inception. The investment manager implements the River Global bottom-up investment philosophy & process, creating a high conviction, unconstrained portfolio premised on stock picking.
George Ensor, Portfolio Manager
George is Portfolio Manager of the RGI UK Listed Smaller Companies Fund and the River and Mercantile UK Micro Cap Investment Trust. George joined River Global in 2014 as a UK equity analyst. Prior to River Global, he worked for five years as a Private Client Investment Manager at Smith & Williamson Investment Management after joining as a graduate in 2008. George graduated with a degree in Chemistry from the University of Bristol. He is a CFA Charterholder.
Edmund Shing, Investment Trusts and Funds specialist
Edmund Shing – Global CIO at BNP Paribas Wealth Management
Edmund is currently based in Paris, after working for several years in London as Global Head of Equity Derivative Strategy in BNP Paribas Global Markets.
Edmund has previously worked at Barclays Capital (as Head of European Equity Strategy), BNP Paribas (as a Prop Trader), Julius Baer, Schroders and Goldman Sachs over a 26-year career in financial markets based in Paris and London. He also holds a PhD in Artificial Intelligence from the University of Birmingham. Follow him on Twitter @TheIdleInvestor and at https://wealthmanagement.bnpparibas/vow/en.html .
Company Presentation – Ocean Dial and the India Capital Growth Fund
Launched in 2005, India Capital Growth Fund looks to provide long term capital appreciation by investing predominantly in listed mid and small cap Indian companies. Investments may also be made in unquoted Indian companies where the Fund Manager believes long-term capital appreciation will be achieved. The Company may hold liquid assets (including cash) pending deployment in suitable investments.
The closed-ended structure of India Capital Growth Fund is perfectly suited for the universe in which the team invest. The Company invests in less liquid opportunities and takes a long-term approach, unencumbered by fund flows both in and out. The Company is able invest in smaller, less well-known companies therefore Shareholders are exposed to ideas that are unviable for larger fund houses. Often these ideas are identified in advance of our competition and usually allocated to on more attractive terms.
The manager, Ocean Dial Asset Management, is split across Mumbai and London, the specialist investment team seek out innovative opportunities, identifying companies with sustainable growth at an attractive price. Given the nature of the companies in which we invest, the quality of the research we undertake is vital. Using a bottom up approach the team always meet the companies they invest in, undertake proprietary research and truly understand the business model of companies enabling them to invest with conviction.
India Capital Growth Fund adds a fresh dimension to any portfolio enabling shareholders access to the engine room of India via small and mid-cap stocks. Driven by a positive macro and geopolitical environment, and favourable demographics, India is a fast-growing economy that cannot be ignored by investors.
India Capital Growth Fund is advised by Ocean Dial Asset Management, a River Global Company.
Gaurav Narain, Co-Head of Equities
Gaurav Narain is Co-Head of Equities at Ocean Dial, and Portfolio Adviser to the India Capital Growth Fund. He joined Ocean Dial in November 2011 and has been involved with the Indian markets for the past 25 years. He has held senior positions as both a Fund Manager and an equities analyst for New Horizon Investments, ING Investment Management India and SG (Asia) Securities India. He holds a Masters in Finance and Control and a Bachelor of Economics from Delhi University and is based in Mumbai.
Andrew Latto presents ‘Fundsmith – Thirteen Years On’
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.”