We formed Onward Opportunities Limited because we believe that there is a structural market opportunity in the UK smaller companies sector that we can take advantage of for clients using our deep industry experience. As a team, we are convinced that employing an active investment approach for identifying investment opportunities and driving those investments to an outcome can result in higher returns by capitalising on market inefficiencies.
Our belief is shared by both the Board and the Portfolio Manager, and we are committed to pursuing this strategy to generate absolute returns for our clients. By leveraging our expertise in the UK smaller companies sector, and applying a proactive investment approach, we aim to unlock the full potential of this market segment and create value for our investors.
Our Team
Our investment policy is overseen by a skilled Board with extensive relevant experience, and implemented by an experienced AIFM and FCA-authorised Portfolio Manager. Our investment team and committee have a combined experience of c.160 years and a history of value creation for clients.
In terms of identifying investment opportunities, our Portfolio Manager conducts a thorough search and evaluation using a proprietary database and operational resources. This process is done on behalf of the Company to ensure we deliver the best possible results for our clients.
We believe in investing in businesses, strategies and catalysts that we can see and understand. This we think gives us the best opportunity to value a company today and to assess its intrinsic value tomorrow. We then aim to purchase it at a discount to both of those values. Therefore, Investee Companies will typically have certain of the following characteristics:
balance sheet asset backing;
a competitive advantage and/or strong management track record;
attractive cash flow potential;
visibility of earnings/future earnings improvement;
potential for liquidity and/or exit in line with the Company’s targeted hold period;
scope for an active shareholder to trigger value creation; and/or
foreseeable events and catalysts to unlock intrinsic value.
Although investments will not be restricted to specific sectors, the Company does not expect to pursue or make investments into companies in the biotechnology sector, or in companies directly involved in extractive industries (such as mining, oil or gas).
Once we have found what we are looking for, we apply private equity techniques to our due diligence to allow us to deep dive on the earnings, valuation and capital allocation potential of an investment. Again like private equity, these findings are then presented to an Investment Committee with an investment recommendation. The Committee then opines with an approval or rejection decision.
Following investment, we take a relationship-based approach to active and engaged investing, seeking to unlock the value we have spotted for all stakeholders. This will typically involve direct and indirect engagement on a number of identified catalysts and variables in an investment to drive improved earnings, capital allocation or valuation.
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