Launch of the TM CRUX UK Smaller Companies Fund
CRUX launches UK Smaller Companies Fund
CRUX Asset Management Ltd. (“CRUX”), the active equity investment manager, announces the launch the TM CRUX UK Smaller Companies Fund on 1 November 2022. The Fund seeks to deliver strong investment returns through a bottom-up, active stock picking approach targeting companies considered undervalued in the UK small cap sector.
The Fund is predominantly a small and micro-cap offering, which places growth investing at the core of its philosophy. Highly experienced, Citywire AA-rated* fund manager, Richard Penny, is targeting a portfolio of 25-30 mispriced businesses in long-term growth sectors where opportunities are underappreciated. In particular, the Fund is targeting mispriced companies with improving growth in revenues or profits. This could see the Fund invest in companies going through transactions such as acquisitions or seeking financing. Investment opportunities are also sought from changes of management and business strategy. The UK domiciled UCITS Fund is available to retail and institutional investors.
Richard Penny, TM CRUX UK Smaller Companies fund manager at CRUX, said:
“With the outlook for corporate Britain deteriorating, the UK has become a buyer’s market. This has resulted in downward pressure on many share prices, as such I believe that there are some exciting opportunities to be found. The worst hit shares are often in small and micro-cap companies, those with poor track records as well as growth, technology and healthcare companies. The Fund favours environments where defensives and mega-cap stocks are underperforming and we would expect it to outperform in the early stages of economic recovery when risk appetite returns and investors increase their engagement in small and mid-cap stocks.”
CRUX’s UK investment team has over 30 years’ experience and is managed by Richard Penny and UK equity research analyst, Tom Messenger. Richard joined CRUX Asset Management in 2018 from Legal & General Investment Management, where he worked for 15 years managing award-winning funds. Tom joined CRUX in May 2022, from Momentum Investment Solutions & Consulting.
*as at 30 September 2022