TB Amati UK Smaller Companies B Acc

UK Smaller Companies

Rated Fund 2017-2018. A 'fund for all seasons'

This fund, a tiddler at £95 million, scooped a Money Observer award in the UK Smaller/Mid Cap Equity category in 2016 and 2017.Amati specialises in smaller companies investing. Paul Jourdan has led this fund since 2000 and was joined by Douglas Lawson in 2009 and David Stevenson in 2012. The trio look for poorly researched companies that may offer good opportunities at attractive share prices.

The group says that having three managers running the portfolio makes their decision-making agile enough to respond to opportunities, and enough to allow each manager recommendation to be subject to stringent peer review.The team seek out management teams with a track record of success, and companies that have a high level of intellectual property and the ability to commercialise it. Conversely, they avoid businesses with no clear competitive advantage and those where there are already larger rivals dominating the market in which they are operating.Their aim is to provide a 'fund for all seasons'. In order to do so they favour companies they can back over the long term.

While they can only invest in listed businesses, the managers keep an eye on promising private companies that could float in the future.They recognise that liquidity can be a problem with smaller company shares, and they counter this by holding companies of £500 million to £2 billion in size, alongside those below £100 million. At the end of 2017, 60 per cent was in companies worth £100 million to £1 billion.

Narrative and ratings content all as of 01 January 2018.

See all Money Observer rated funds
Name
TB Amati UK Smaller Companies B Acc
Manager
Amati Global Investors Ltd
Type
Open Ended Investment Company
ISIN
GB00B2NG4R39
Sector
UK Smaller Companies
Launched
29/07/2008
OCF
0.98 %
Risk Rating
4
3 Year Sharpe
1.82
3 Year Alpha
14.85
Yield
0.7 %
Benchmark
Numis SC Plus AIM Ex Invt Com TR GBP
The investment objective of the TB Amati UK Smaller Companies Fund is to achieve long-term capital growth. The Fund invests in UK smaller companies though there may be occasions when the Investment Manager chooses to hold large degrees of cash or money market instruments. The Fund will primarily invest in companies which are either incorporated in the UK or are listed in the UK and have the majority of their economic activity in the UK. The Fund may also invest in companies which are listed in the UK but are not incorporated and do not have the majority of their economic activity in the UK.
Holding %
Onesavings Bank PLC 2.79 %
Learning Technologies Group PLC 2.78 %
Quixant PLC 2.74 %
Diversified Gas & Oil PLC 2.67 %
Indivior PLC 2.59 %
Smart Metering Systems PLC 2.48 %
IG Group Holdings PLC 2.44 %
Countryside Properties PLC 2.38 %
Fevertree Drinks PLC 2.38 %
boohoo.com PLC 2.23 %
Region %
United Kingdom 89.70 %
Sector %
Technology 22.41 %
Financial Services 21.76 %
Industrials 10.47 %
Consumer Cyclical 10.15 %
Basic materials 7.61 %
Real Estate 7.51 %
Healthcare 7.00 %
Consumer Defensive 5.53 %
Energy 5.39 %
Name
Amati Global Investors Ltd
Address
EH2 4DF, Edinburgh, United Kingdom
UCITS
Yes
Legal Structure
Open Ended Investment Company

Managers

Anna Wilson
Joined 01/17/2018
David Stevenson
Joined 02/06/2012

David graduated from Edinburgh University with MA Honours in Economics and Accountancy before training as a chartered accountant with KPMG. He was involved latterly in corporate finance before moving into venture capital with Dunedin. In 1993 David moved to SVM where he managed the SVM UK Opportunities fund from its launch to end October 2005, as well as having co-responsibility for an institutional client base with funds totalling £600m.

Douglas Lawson
Joined 01/01/2009

Douglas Lawson co-founded Amati Global Investors in January 2010. Douglas joined Noble in 2005 to originate and execute private equity and listed company opportunities for Noble’s venture capital trusts. He has recently focused on sourcing and structuring convertible bonds for AIM listed companies as well as primary and secondary quoted opportunities. Prior to joining Noble, Douglas was at British Linen Advisers, where he was a corporate finance associate focusing on UK listed and private equity M&A advisory, and Ernst & Young, where he qualified as a Chartered Accountant.”

Paul Jourdan
Joined 07/29/2008

Paul Jourdan joined Noble in June 2007 after the successful transfer of First State Investments AIM VCT plc to Noble. Paul is Head of Equity Investments for Noble and has specific responsibility for Noble AIM VCT plc and CF Noble UK Smaller Companies Fund (formerly First State British Smaller Companies Fund). Paul joined Stewart Ivory & Company Ltd (now First State Investment Management (UK) Ltd) in 1998, working initially on UK and Emerging Market equities, and then assisting with the management of First State Global Opportunities Fund. Paul took over the management of the First State British Smaller Companies Fund in September 2000 and has run the fund since then. Paul holds a Master of Arts and a Ph.D. from Cambridge University and is a member of the CFA Institute.

Data provided by Morningstar.

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