Onward Opportunities Limited (ONWD LN) has returned a market leading +14.0% NAV growth in its first year despite difficult market conditions, using a specialist investment approach.
Since its IPO in March 2023, ONWD has outperformed the FTSE AIM All Share total return index by 19.9% as well as the majority of its peers in the AIC UK Smaller Companies sector.
Onward Opportunities has also been one of the few investment companies to trade at a premium or raise new capital in the past 12-months, completing two additional fundraises post-IPO.
It was the first new investment company IPO on AIM since 2021.
Laurence Hulse, manager of Onwards Opportunities Limited said "We have done what we set out to do on behalf of our shareholders;
* raise capital repeatedly regardless of market conditions,
* deploy that capital using a high-touch investment style, and
* invest profitably delivering strong absolute returns.
An eclectic and diversified portfolio of opportunities has been built by the team to take us into 2024 and beyond and resultantly the first quarter of FY24 has started encouragingly for our shareholders."
Jackson Wray, Dowgate Wealth said: "Since IPO in March 2023, Laurence and Onward Opportunities has gone from strength to strength and is a fantastic representation of what we are building at Dowgate. We are confident that capturing opportunities in underappreciated smaller companies through bottom-up research, hard work, experience and - in this case - a distinctive but tried and trusted investment management approach which will help drive returns for our shareholders, both now and going forward."
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Note to Editors:
Onward Opportunities Limited is an Investment Company run and managed by Laurence Hulse Onward Opportunities is a listed investment company that seeks to capitalise on structural market opportunities within the UK small cap sector, with a portfolio of around 20-25 specialist UK smaller companies. The team deploy a tried and tested investment process, combined with a truly active approach to stock selection and high levels of engagement with the portfolio investments to catalyse the value that has been identified. The company was founded and is led by Investment Director Laurence Hulse, who resigned from Gresham House in 2022 specifically to build an investment company for clients.
Contacts:
For further information please contact Jackson Wray (+447800907424 /
jackson.wray@dowgate.co.uk), Laurence Hulse (laurence.hulse@dowgate.co.uk /
+447790598943) or Graham Hooper (+447831606850)
Onward Opportunities Limited: Key Facts
* The first new investment company IPO on AIM since 2021
* High conviction investors using a specialist approach; proprietary due diligence followed by active engagement with investee companies
* Investment team to work hand in hand with the companies to unlock shareholder value
* Captured from a structural market opportunity in the UK, using a honed investment process with an investment committee structure much akin to private equity
* 20-25 specialist investments
* The Company offers its shareholders a strategy that has materially outperformed in the past.
Laurence worked on and co-managed +15.2% IRR Gresham House Strategic Total Shareholder
Return, +18.2% IRR Gresham House Strategic Public Equity Fund LP
* Executed by a proven team with a history of making money for clients
* The Investment Committee: Laurence Hulse (Investment Director), Tom Teichman, Jay Patel,
Jeremy McKeown and David Poutney
* The Board: Independent Non-Executive Chairman, Andrew Henton and Independent Non-
Executive Directors, Susan Norman, Henry Freeman and Luke Allen
Name: Onward Opportunities Limited
Ticker: ONWD LN
Listing: AIM
Issue price: 100p, 95p NAV
Current price & NAV: 110p/share, 109.04p/share (Source: Bloomberg)
Size: £20m
AMC: 1.5% up to £50m NAV, 1% above £50m NAV
Comparative index: AIC UK Smaller Companies sector
Website: www.onwardopportunities.co.uk
Laurence Hulse, Investment Director, Dowgate Wealth
Laurence joined Dowgate Wealth in 2022 from Gresham House where he spent seven years in investment roles, latterly as a Citywire AA-rated manager working as part of the small team to achieve two FE 5-Crown rated funds; Gresham House Strategic plc (now called 'Rockwood Strategic plc') and Gresham House UK Smaller Companies Fund. He also joined the Board of The Lakes Distillery plc, as a Board observer, following an investment by Gresham House Strategic and Gresham House Multi-Cap Income fund via Convertible Loan Note. In 2021 Laurence was nominated for Investment Week Investment Company Rising Star of the Year Award.
Dowgate Wealth
Dowgate Wealth is an employee-owned, private company founded in 2020 by former Hargreave Hale colleagues. The founders wanted to move away from industry trends and focus solely on the objectives of their individual clients by delivering a high-quality service via bespoke portfolio management. As at 30th January 2023, Dowgate Wealth has assets under administration in excess of £495 million. The company offers services across fund management, wealth management, advisory stockbroking and discretionary portfolio management.
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ONWARD OPPORTUNITIES LIMITED 