Vantage: Focus on UK equities with Richard Penny of CRUX Asset Management

Vantage now focuses on the UK and we speak to Richard Penny, a fund manager from CRUX Asset Management who manages the TM CRUX UK Special Situations Fund. Richard opens with his view on the UK equities market. He goes on to talk about his 30 years in the fund management industry, his current role at CRUX and the TM CRUX UK Special Situations Fund, a small and mid-cap fund that seeks to add alpha by investing behind change. His strategies for investing include following management teams that have a track record of delivery and are aligned with shareholders, technology crossover plays, acquiring businesses from forced sellers and finding serial compounders. Richard illustrates this by talking about his holdings in Aviva (AV.L), Associated British Foods (ABF.L), Kistos (KIST.L), AdvancedAdvT (ADVT.L), MaxCyte (MXCT.L), FD Technologies (FDP.L), Inspecs (SPEC.L), IP Group (IPO.L), TruFin (TRU.L) and Marwyn Value Investors (MVI.L). Richard finishes by offering advice on what investors should think about when investing and his recommended read, 100 Baggers: Stocks That Return 100-To-1 and How to Find Them by Christopher Mayer.