Richard Staveley, fund manager at Gresham House Strategic (GHS), discusses his investment philosophy and why he is excited about the opportunity now. He provides more detail on some of his underlying holdings: Augean, IMImobile, and Van Elle Holdings. Richard also comments on the divided policy, cash position, buyback strategy, recent performance and the outlook for the company.
GHS invests mainly in smaller UK public companies, applying private equity-style techniques to construct a focused portfolio. The investment team focuses on taking significant stakes in profitable, cash-generative companies that it believes are intrinsically undervalued, aiming for significant engagement with investee company stakeholders in support of a clear equity value creation plan over the long term. The strategic public equity team at the fund manager, Gresham House, has managed five consecutive funds since 2003, including GHS, following the same strategy.