Reach Plc

Aberforth is an active, value-oriented manager which aims to buy shares in companies that they calculate to be selling below their intrinsic value based on financial and industrial analysis, combined with a valuation approach that focuses on stock market and corporate worth. The firm performs fundamental research before reaching an investment decision, meeting regularly with small company management throughout the UK. The firm’s Aberforth Smaller Companies Trust and Aberforth UK Small Companies Fund have diversified portfolios which aim to achieve a total return greater than the NSCI (XIC) over the long term by investing in a diversified portfolio of small UK quoted companies. They typically keep the Funds near fully invested in equities at all times and normally do not attempt to engage in market timing by holding high levels of liquidity.The Aberforth Geared Income Trust invests in a diversified portfolio of small UK quoted companies. Aberforth focuses on value investing and the portfolio reflects their desire to invest in companies whose shares represent relatively attractive value within a given stock market environment. The sectoral disposition of the portfolio results from a bottom-up stock selection process with no sectoral constraints. They regularly perform a top-down risk assessment.They assess value using a variety of financial and qualitative techniques, paying particular attention to companies that have profit and cash flow characteristics that are considered to be capable of generating long-term real returns for shareholders. To value potential investments, Aberforth emphasizes the ratio of total enterprise value to the earnings before interest, tax and amortization which a company generates.

MIMI manages two Techinvest funds: (1) MFM Techinvest Technology Fund, which aims to provide capital growth through a portfolio of small-cap equity holdings in technology businesses. The fund is primarily invested in securities quoted on the London Stock Exchange and North American markets; and (2) MFM Techinvest Special Situations Fund which seeks to provide capital growth through a portfolio of equities whose future prospects to do not appear to be yet fully reflected in the current stock market price. The primary focus is on smaller UK companies and particular attention is paid to emerging growth stocks and to recovery situations where a change in a company’s underlying dynamics or direction can be expected to lead to an improvement in its reported results.

PFM is an active, team-based manager which does not follow any particular investment style or view. Investment managers follow their own proven investment philosophy and process with a strong focus on sharing ideas and working within clear investment mandates and a strong risk management and compliance culture. Their multi-asset funds include income, conservative growth, balanced and risk-targeted profiled funds to meet different client investment objectives and risk profiles. Their UK equity funds are focused mainly on UK larger and mid-cap companies and specialist strategies, while their global equity funds cover growth, income and specialist strategies.