Fund overview and investment objective

The investment objective of the Fund is to produce long term capital growth in excess of the Hoare Govett Smaller Companies + AIM (ex Investment Companies) Index. Outperform the UK market by actively managing a focused portfolio of high conviction UK stocks. The Fund will be style agnostic and have exposure to stocks that we believe offer considerable upside through the action of an identified catalyst.

The Fund’s main investment features include

• Bottom-up, high conviction, stock picking approach
• Concentrated portfolio, holding between 25 - 50 stocks
• Focus on companies for positive reasons with significant upside and an identified catalyst for a re-rating

Fund’s investment strategy

The Fund seeks to identify companies that will benefit from the actions of a catalyst. A catalyst can be one or a combination of the following:

• The introduction of a new management
• Regulatory & structural change
• An under leveraged balance sheet
• Market misperception
• An improvement in market sentiment
• Under researched
• Corporate activity

Fund Manager profile

Sean O’Flanagan started his investment management career at BWD Rensburg plc (since renamed Rensburg Sheppards plc) in 1998. In 2002 he joined Unicorn Asset Management Limited and was responsible for creating one of the largest and most successful AIM based Venture Capital Trust divisions in the UK (source: taxefficientreview.com). Sean joined Collins Stewart in 2006 to launch the UK Catalyst Fund and an Inheritance Tax Portfolio Service. He was co-manager of the Unicorn Free Spirit Fund between mid 2002 and February 2006. The Free Spirit Fund was the best performing open ended Fund in the UK All Companies category over this period.