Overview
Strategic Equity Capital is a London-listed investment trust which seeks to create shareholder value through constructive corporate engagement with publicly quoted companies. The investment objective of the company is to achieve absolute returns (i.e growth in the value of investments) rather than relative returns (i.e. attempting to outperform selected indices) over a medium-term period, principally through capital growth.
You can access the manager’s website here
Fundamentals
Price
Research History
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26 Apr 2024 1 min read
Interview with Ken Wotton from Strategic Equity Capital
In this week’s show, James Carthew spoke to Ken Wotton from Strategic Equity Capital. If you were looking for the first part of QuotedData’s show, focused on the roundup of the week’s news click here. If there is a guest speaker you’d particularly like to hear from, please email us Aiman. Additionally, if you would prefer […]
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24 Mar 2022 11 min read
Strategic Equity Capital – Time to look forward
Time to look forward Strategic Equity Capital’s (SEC) shareholders have overwhelmingly approved proposals to address the trust’s discount and provide liquidity to those shareholders that need it. The focus should now switch to the trust’s much-improved track record under manager Ken Wotton at Gresham House Asset Management (GHAM). SEC’s investment approach emphasises qualities such as […]
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10 min read
Strategic Equity Capital – Time to look forward
Time to look forward Strategic Equity Capital’s (SEC) shareholders have overwhelmingly approved proposals that the board hopes will address the trust’s discount and provide liquidity to those shareholders that need it. The board and manager believe that investors’ focus should now switch to the trust’s much-improved track record under manager Ken Wotton at Gresham House […]
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11 min read
Strategic Equity Capital – Time to look forward
Time to look forward In a vote held on 23 March 2022, Strategic Equity Capital’s (SEC) shareholders have overwhelmingly approved proposals to address the trust’s discount and provide liquidity to those shareholders that need it. We believe that the focus should now switch to the trust’s much-improved track record under manager Ken Wotton at Gresham […]
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09 Sep 2021 26 min read
Strategic Equity Capital – Headed in the right direction
Headed in the right direction At the end of September 2020, Ken Wotton became the lead manager of Strategic Equity Capital (SEC) and, during the ten months since, SEC has provided NAV and share price returns that are significantly ahead of the MSCI UK Smaller Companies and even the broader MSCI UK Index. Despite this, […]
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27 min read
Strategic Equity Capital – Headed in the right direction
Headed in the right direction At the end of September 2020, Ken Wotton became the lead manager of Strategic Equity Capital (SEC) and, during the ten months since, SEC has provided NAV and share price returns that are significantly ahead of the MSCI UK Smaller Companies and even the broader MSCI UK Index. Despite this, […]
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26 min read
Strategic Equity Capital – Headed in the right direction
Headed in the right direction At the end of September 2020, Ken Wotton became the lead manager of Strategic Equity Capital (SEC) and, during the ten months since, SEC has provided NAV and share price returns that are significantly ahead of the MSCI UK Smaller Companies and even the broader MSCI UK Index (see pages […]
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02 Feb 2021 21 min read
Strategic Equity Capital – Back to its roots
Back to its roots Since May 2020, Strategic Equity Capital (SEC) has been managed by the public equity team at Gresham House Asset Management. The head of that team, Ken Wotton, became lead-manager of the trust in September, working alongside Adam Khanbhai. The chair of SEC’s investment committee is now Tony Dalwood, SEC’s lead manager […]
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21 min read
Strategic Equity Capital – Back to its roots
Back to its roots Since May 2020, Strategic Equity Capital (SEC) has been managed by the public equity team at Gresham House Asset Management. The head of that team, Ken Wotton, became lead-manager of the trust in September, working alongside Adam Khanbhai. The chair of SEC’s investment committee is now Tony Dalwood, SEC’s lead manager […]
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21 min read
Strategic Equity Capital – Back to its roots
Back to its roots Since May 2020, Strategic Equity Capital (SEC) has been managed by the public equity team at Gresham House Asset Management. The head of that team, Ken Wotton, became lead-manager of the trust in September, working alongside Adam Khanbhai. The chair of SEC’s investment committee is now Tony Dalwood, SEC’s lead manager […]
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22 Jan 2021 1 min read
Interview with Adam Khanbhai from Strategic Equity Capital
In this week’s show, James Carthew talked to Adam Khanbhai from Strategic Equity Capital. Watch it again here If you were looking for QuotedData’s roundup of the week’s news, this is now in the news section – just click here If there is a guest speaker you’d particularly like to hear from, please email us – [email protected]. The […]
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08 Dec 2020 2 min read
QuotedData’s ESG Conference – week 3 Governance day playback
On the 8th December QuotedData hosted the last of three ESG focused webinars. This Governance webinar included presentations and Q&As from 4 investment companies’ managers focused on targeting underlying companies actively improving corporate governance practices and addressing inequality. We would like to thank all our speakers and our attendees for joining us. Click below to watch the presentations. David […]
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07 May 2020 8 min read
QuotedData’s Investment Companies Roundup – May 2020
Investment Companies Roundup Kindly sponsored by Baillie Gifford and Aberdeen Standard Investments Table of contents New research In this issue Performance data Discounts and premiums Money in and out Major news stories Income Events Guide Appendix – Performance by sector full list New research Here is a list of research we published over April: An update note […]
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17 Apr 2020 1 min read
QuotedData’s weekly roundup 17 April 2020
James Carthew’s weekly news roundup show for Friday, 17th April, covers a wide range of topics and includes an interview with Tony Dalwood, CEO of Gresham House, which has just taken on the management of Strategic Equity Capital. Listen back here This was our second weekly roundup and the format we evolve over time. If […]
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16 Apr 2020 13 min read
Strategic Equity Capital – Focused on fundamentals
Focused on fundamentals Just a couple of months ago, Strategic Equity Capital (SEC)’s NAV and share price were at an all-time high. However, since then the covid-19-related sell-off in markets has led to a flight to safety, to the detriment of smaller companies funds’ NAVs, and a widening of discounts. SEC has proved relatively resilient, […]
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13 min read
Strategic Equity Capital – Focused on fundamentals
Focused on fundamentals Just a couple of months ago, Strategic Equity Capital (SEC)’s net asset value (NAV) and share price were at all-time highs. However, since then, the covid-19-related sell-off in markets has led to a flight to safety. NAVs of smaller companies funds have fallen and discounts have widened. Against this backdrop, SEC has […]
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24 Jan 2020 20 min read
QuotedData’s Investment Companies Annual Review – 2019
In this issue The sector at the end of 2019 Performance data Performance by sector and fund Money in and out of the sector Money in and out of existing funds Money coming into existing funds Money going out of existing funds Liquidations, de-listings and trading cancellations Significant rating changes Major news stories Outlook for […]
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12 Nov 2019 1 min read
QuotedData’s economic roundup – November 2019
Economic & Political Roundup
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15 Oct 2019 7 min read
Investment companies quarterly roundup – Third quarter 2019
Investment Companies Quarterly Roundup Kindly sponsored by Baillie Gifford New research Over the third quarter, we published notes on India Capital Growth, Jupiter Emerging & Frontier Income, Montanaro European Smaller Companies, JLEN Environmental Assets, Civitas Social Housing, JPMorgan Russian Securities, International Biotechnology Trust, Aberdeen Emerging Markets, Seneca Global Income & Growth, Standard Life Investments Property Income […]
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16 Jul 2019 24 min read
Strategic Equity Capital – Discounted opportunity
Discounted opportunity Jeff Harris and Adam Khanbhai have been managing Strategic Equity Capital’s (SEC’s) portfolio jointly since February 2017. Since this time, NAV growth has been solid (a total return of 14.3%, which is broadly in line with the MSCI UK Small Cap Index’s return of 14.1%) but SEC has strongly outperformed during the last […]
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24 min read
Strategic Equity Capital – Discounted opportunity
Discounted opportunity Jeff Harris and Adam Khanbhai have been managing Strategic Equity Capital’s (SEC’s) portfolio jointly since February 2017. Since this time, NAV growth has been solid (a total return of 14.3%, which is broadly in line with the MSCI UK Small Cap Index’s return of 14.1%) but SEC has strongly outperformed during the last […]
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04 Apr 2019 1 min read
QuotedData’s investment companies roundup – April 2019
QuotedData’s investment companies roundup – April 2019 is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of March 2019. Kindly sponsored by Baillie Gifford. JPMorgan Indian, India Capital Growth, Aberdeen New India and Ashoka India Equity Investment […]
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22 Mar 2019 2 min read
QuotedData’s economic roundup – March 2019
QuotedData’s economic roundup – March 2019 is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell […]
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25 Jan 2019 1 min read
QuotedData review of 2018 – Annual report investment companies
QuotedData review of 2018 – Annual report investment companies 2018 – the return of volatility A trade war, Brexit, US interest rate rises, slowing Chinese growth, a US government shutdown, a dispute over Italy’s budget, the Skripal poisonings, numerous elections – there was plenty to worry about in 2018. A last-minute dive left the US […]
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13 Nov 2018 1 min read
QuotedData’s economic roundup – November 2018
QuotedData’s economic roundup – November 2018 is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell any […]
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16 Oct 2018 2 min read
Quarterly Investment Companies Roundup – Third Quarter 2018
Quarterly Investment Companies Roundup – Third Quarter 2018 Global equities delivered positive returns over the third quarter of 2018. This was principally because of strength in the US market. Political uncertainty and concerns about global trade held back other regions. Generally, government bond yields rose over the quarter. The UK equity market fell as the Bank of […]
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14 Sep 2018 1 min read
QuotedData’s investment companies roundup – September 2018
QuotedData’s investment companies roundup – September 2018 is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of August 2018. Kindly sponsored by Baillie Gifford. Money raised and returned in August GRIT Real Estate Income floated on the UK Stock Exchange in […]
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07 Aug 2018 1 min read
Strategic Equity Capital – Confident despite short term setback
Strategic Equity Capital – Confident despite short term setback This is Marten & Co’s update note on the company. After a strong period of performance in 2017, when Strategic Equity Capital (SEC) beat a strong small cap index by 6%, 2018 has proved more problematic. Short-term performance has been impacted by stock specific price weakness within SEC’s […]
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1 min read
Strategic Equity Capital – Confident despite short term setback
Strategic Equity Capital – Confident despite short term setback – After a strong period of performance in 2017, when Strategic Equity Capital (SEC) beat a strong small cap index by 6%, 2018 has proved more problematic. Short-term performance has been impacted by stock specific price weakness within SEC’s concentrated portfolio (see pages 5-6). SEC’s managers are long-term […]
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13 Mar 2018 1 min read
QuotedData’s Economic round up – March 2018
QuotedData’s economic round up – March 2018 is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell […]
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18 Jan 2018 1 min read
QuotedData – 2017 review of the year
QuotedData – 2017 review of the year – Many commentators, including us, were wary going into 2017. In the event, economic growth and markets surprised on the upside: US markets hit new highs despite three interest rate rises. Perceived low/no growth areas such as Europe and Japan burst into life. Asia’s technology stocks surged. India’s […]
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10 Jan 2018 2 min read
QuotedData investment companies roundup – January 2018
QuotedData investment companies roundup – January 2018 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of December 2017. Kindly sponsored by Baillie Gifford. January Investment Companies Roundup Winners and losers in December Infrastructure India’s share price […]
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19 Oct 2017 1 min read
Quarterly investment companies roundup – Third quarter 2017
Quarterly investment companies roundup – Third quarter 2017 – Markets moved up a little over the course of the three months ended 30 September 2017. Regionally, emerging markets did well. The pound strengthened a bit relative to the US dollar but was flat against the euro. The oil price rose by more than 20%. In […]
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12 Oct 2017 1 min read
QuotedData investment companies roundup – October 2017
QuotedData investment companies roundup – October 2017 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of September 2017. Kindly sponsored by Baillie Gifford. October Investment Companies Roundup Amongst the top performers, Alternative Liquidity Fund sold its […]
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30 Aug 2017 2 min read
Strategic Equity Capital – Quality small cap focus
Strategic Equity Capital – Quality small cap focus Strategic Equity Capital (SEC’s) managers believe the current portfolio consists of very high quality smaller companies. The high cash balances that built up in 2016, on the back of events such as the e2v technologies takeover, have, largely, been redeployed. Cash drag and the fund’s focus have held […]
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10 Apr 2017 1 min read
QuotedData investment companies roundup – April 2017
Our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of February 2017. Kindly sponsored by Baillie Gifford. April Investment Companies Roundup
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22 Mar 2017 1 min read
Strategic Equity Capital – Business as usual
Strategic Equity Capital – Business as usual is a note that Marten & Co wrote to explain the impact of Stuart Widdowson’s resignation as manager of Strategic Equity Capital. Strategic Equity Capital – Business as usual Strategic Equity Capital (SEC) announced Stuart Widdowson’s departure from GVQ Investment Management on 7 February 2017. GVQ stress that it is […]
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1 min read
Strategic Equity Capital – “Business as usual”
Strategic Equity Capital – “Business as usual” is a note that Marten & Co wrote for QuotedData that explains the impact of Stuart Widdowson’s resignation as manager of Strategic Equity Capital. Strategic Equity Capital (SEC) announced Stuart Widdowson’s departure from GVQ Investment Management on 7 February 2017. GVQ stress that it is “business as usual” […]
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15 Mar 2017 1 min read
QuotedData’s round up of views on the global economy – March 2017
A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell any of the companies mentioned. Kindly sponsored […]
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1 min read
QuotedData investment companies roundup – March 2017
Our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of February 2017. Kindly sponsored by Baillie Gifford. March Investment Companies Roundup
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31 Jan 2017 1 min read
QuotedData – 2016 review of the year
Our review of 2016 includes performance data, significant moves in discounts and premiums, money raised and money handed back, major news stories and links to the research we have published including our guide to investment companies. 2016 Annual roundup
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13 Oct 2016 1 min read
QuotedData’s round up of views on the global economy – October 2016
QuotedData’s collation of recent insights on markets and economies taken from comments made by chairman and managers of investment companies. october-economic-and-political-roundup
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1 min read
QuotedData investment companies roundup – October 2016
Our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of September 2016. october-investment-companies-roundup
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10 May 2016 1 min read
Strategic Equity Capital – Cashing up!
Strategic Equity Capital (SEC)’s managers believe that we are now in a late-mid-stage bull market. Reflecting this, they are maintaining a preference for companies exposed to structural growth, are aiming to operate with higher levels of cash in the portfolio (10-15% up from 5-10%) and the focus is on “reasonably priced growth” and “self-help” opportunities. […]
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15 Jul 2015 1 min read
Strategic Equity Capital – Measured expansion on strong performance
Strategic Equity Capital – Measured expansion on strong performance. Please see our latest research on Strategic Equity Capital Strategic Equity Capital’s strong performance compared to both its rivals and comparable UK indices has increased in recent months. This good performance and inclusion in UK indices are fuelling demand for the trust, pushing up the premium. […]
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15 Mar 2015 1 min read
Strategic Equity Capital – Measured expansion on strong performance
Strategic Equity Capital – Measured expansion on strong performance Please click on the link to access Marten & Co’s research note on Strategic Equity Capital (SEC) Strategic Equity Capital’s strong performance compared to both its rivals and comparable UK indices has increased in recent months. This good performance and inclusion in UK indices are fuelling […]
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26 Jan 2015 1 min read
Strategic Equity Capital – Different in a good way
Strategic Equity Capital – Different in a good way. Please click on the link above to access our latest research note on Strategic Equity Capital. The trouble with choosing between UK equity funds is the similarity of their investment styles. Strategic Equity Capital’s approach, looking at companies the same way that a private equity investor […]
News
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30 May 2025 3 min read
Betting on a small cap revival
It was great this week to talk to three managers who are investing in UK small and medium-sized companies – if you missed it, you can watch the recording back here. Their message seems to be that portfolio companies are trading well, and coping with a macroeconomic environment that has at times been unhelpful, yet […]
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26 Feb 2025 2 min read
QuotedData’s morning briefing 26 February 2025 – SEC, IGET
In QuotedData’s morning briefing 26 February 2025: Strategic Equity Capital (SEC) announced its interim results for the six months to 31 December 2024. The company’s NAV total return fell 8.8% while the share price total return was down 8.5%. The benchmark smaller companies index delivered a positive return of 5.2% over the same period. The […]
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26 Sep 2024 1 min read
Strategic Equity Capital discount control effort seems to be working
Strategic Equity Capital’s results for the year ended 30 June 2024 show an NAV total return of 16.6% and share price return of 19.2% (as the discount narrowed a little). The NAV returns came in just behind the 18.5% return posted by the FTSE Small Cap Index. Revenue per share rose to 4.15p and the […]
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27 Sep 2023 2 min read
Strategic Equity Capital shows strong performance against a weak UK market
Strategic Equity Capital (SEC) released its annual results today, for the period ending 30 June 2023. Over the 12 months SEC reported a NAV total return of 9.2%, and a share price total return of 11.2%. This compares to the (0.4%) loss of its comparative index, the FTSE Small Cap (ex Investment Trusts). SEC’s management […]
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19 Jul 2023 2 min read
QuotedData’s morning briefing 19 July 2023
Castelnau Group (CGL) announced that further to the issue of new ordinary shares in connection with its acquisition of Dignity, announced on 5 May 2023, the company will issue a further 7,479 ordinary shares in connection with the listed share alternative pursuant to the statutory squeeze out. The board of Strategic Equity Capital (SEC) has […]
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06 Oct 2022 2 min read
Strategic Equity Capital relatively resilient in UK market turmoil
Over the course of the 12 months ended 30 June 2022 the share price decreased by 9.5% on a total return basis, while the NAV total return – was negative 9.2%. In contrast, the FTSE Small Cap (ex Investment Trusts) Total Return Index fell by 14.6%. Thwe dividend was increased from 1.6p to 2.0p. In […]
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25 Mar 2022 2 min read
QuotedData’s morning briefing 25 March 2022
In QuotedData’s morning briefing 25 March 2022: Strategic Equity Capital (SEC) has published its interim results for the six months ended 31 December 2021. During the period, SEC’s NAV per share (on a total return basis) increased by 1.9%, while its Small Cap (ex Investment Trusts) Total Return benchmark, which is used for comparison purposes […]
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21 Mar 2022 1 min read
Strategic Equity Capital tender taken up in full
Strategic Equity Capital tender taken up in full – Strategic Equity Capital has announced the final results of its tender offer, as described in the circular to shareholders dated 28 February 2022. A total of 41,095,966 shares (equivalent to 64.9% of the shares in issue as at 6.00 p.m. on 18 March 2022 – the […]
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28 Feb 2022 3 min read
QuotedData’s morning briefing 28 February 2022
In QuotedData’s morning briefing 28 February 2022: European Opportunities (JEO) has posted its interim results for the six months to 30 November 2021, during which time its NAV (with dividends reinvested) increased by 12.8% while its share price (with dividends reinvested) increased by 9.9%. This compares with a return of 3.8% from the MSCI Europe […]
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11 Feb 2022 1 min read
QuotedData’s weekly news show 11th February 2022
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • Strategic Equity Capital • UK Mortgages/Twenty Four Income • BlackRock Throgmorton This week’s interview was with Richard Aston of CC Japan Income & Growth […]
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10 Feb 2022 2 min read
QuotedData’s morning briefing 10 February 2022
In QuotedData’s morning briefing 10 February 2022: Odyssean’s (OIT) response to yesterday’s announcement by Strategic Equity Capital is that it “believes that the SEC Proposals represent a missed opportunity to create a leading and growing, premium investment trust of greater scale differentiated from the wider UK small cap sector.” There’s no indication that it intends […]
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09 Feb 2022 3 min read
Strategic Equity Capital shares corporate update as it declines Odyssean’s combination offer
Strategic Equity Capital shares corporate update as it declines Odyssean’s combination offer – Following Strategic Equity Capital’s (SEC) announcement on 23 December 2021 that it had received a proposal from the board of Odyssean Investment Trust (OIT) concerning a proposed combination of the two companies, the board has today confirmed it will not be proceeding […]
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23 Dec 2021 2 min read
Odyssean makes approach to Strategic Equity Capital
Odyssean makes approach to Strategic Equity Capital – Odyssean has this morning made the following announcement: “The board of Odyssean Investment Trust plc (“OIT”) announces that it has made a proposal to the Board of Strategic Equity Capital plc (“SEC”) regarding a combination of SEC and OIT to be effected by way of a section […]
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30 Sep 2021 3 min read
Strategic Equity Capital focused on discount narrowing
Strategic Equity Capital focused on discount narrowing Strategic Equity Capital generated a return on NAV of 46.8% for the 12 months ended 30 June 2021 and a return to shareholders of 59.9% as its discount narrowed. The FTSE Small Cap ex Investment Trusts Index increased by 65.2%. The majority of the relative NAV underperformance was […]
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28 May 2021 1 min read
QuotedData’s weekly news show 28 May 2021
QuotedData’s weekly news show 28 May 2021 Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on Youtube. In this week’s show, James Carthew covered the week’s top stories: Gresham House update Strategic Equity Capital takes action on discount AVI asks Third Point Investors to tackle its […]
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2 min read
Strategic Equity Capital takes action on discount
In a bid to take action on its persistent discount, Strategic Equity Capital (SEC) has announced that it will offer shareholders contingent tenders in 2022 and 2024. A 10% tender will be offered in 2022 tender if SEC trades at a wider than average discount of 8 per cent. over the 12 months ending 30 […]
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14 May 2021 2 min read
QuotedData’s morning briefing 14 May 2021
In QuotedData’s morning briefing 14 May 2021: John Laing Group has announced that all necessary approvals have now been obtained for the availability-based Colombian road PPP project Pacifico 2 and that it has achieved financial close on its purchase of the 21.15% interest in Pacifico 2 it has acquired from Construcciones El Condor. This transaction completed […]
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30 Apr 2021 1 min read
Strategic Equity Capital Results Presentation and invite to meet the manager
The 1st quarter results and factsheet for Strategic Equity Capital plc have recently been released with link to each below. Key highlights – • Strong absolute return performance across the quarter • The portfolio NAV increased by 12.4% • Top contributors were Tribal, Medica Group and Clinigen If you would like to hear more about […]
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09 Apr 2021 1 min read
QuotedData’s weekly news show 9 April 2021
QuotedData’s weekly news show 9 April 2021 Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on Youtube. In this week’s show, James Carthew covered the week’s top stories: Schroder UK Public Private slashed the value of its Rutherford Health investment to £34m from £81m SDCL Energy Efficiency’s […]
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30 Mar 2021 1 min read
Strategic Equity Capital scores comfortable win in continuation vote
Strategic Equity Capital scores comfortable win in continuation vote – At today’s extraordinary meeting of shareholders, shareholders approved the continuation of the trust by a margin of 38.8m to 8.4m votes or 82.2% versus 17.8%. Very few shareholders were persuaded to back the requisitionists. Richard Hills, chairman of Strategic Equity Capital, commented: “We are grateful for […]
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05 Mar 2021 1 min read
QuotedData’s weekly news show 5 March 2021
QuotedData’s weekly news show 5 March 2021 Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on Youtube. In this week’s show, James Carthew covered the week’s top stories: City Merchants High Yield/Invesco Enhanced Income merger Apax Global Alpha results Gore Street Energy Storage update Strategic Equity […]
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04 Mar 2021 2 min read
Strategic Equity Capital has substantial support for continuation
Strategic Equity Capital has substantial support for continuation – Strategic Equity Capital has published a circular convening a meeting on 30 March 2021. The meeting is to satisfy the requisition by two shareholders. At the meeting, shareholders will be asked whether they want to support the continuation of the trust. Strategic Equity Capital holds these […]
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02 Mar 2021 1 min read
Strategic Equity Capital pins its hopes on strategy shift
Strategic Equity Capital pins its hopes on strategy shift – Strategic Equity Capital reports, on a total return basis, an 18.1% increase in its NAV and 19.3% increase in its share price over the second half of 2020. These numbers lag the 28.5% return posted by the FTSE Small Cap Index, the manager attributes this to […]
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08 Feb 2021 3 min read
QuotedData’s morning briefing 8 February 2021
In QuotedData’s morning briefing 8 February 2021 – Gabelli Value Plus+ (GVP) announced that it intends to convene a general meeting in July 2021 to consider a continuation vote resolution followed by a special resolution to place the company in members’ voluntary liquidation. GVP’s largest shareholder, Associated Capital Group, has irrevocably undertaken to abstain from […]
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02 Oct 2020 1 min read
QuotedData’s weekly news show 2 October 2020
QuotedData’s weekly news show 2 October 2020 Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on youtube. In this week’s show, James Carthew covered the week’s top stories: Jupiter UK Growth’s decision to give up Strategic Equity Capital’s new manager He then handed over to Andrew McHattie, who talked […]
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01 Oct 2020 2 min read
Strategic Equity Capital outperforms in difficult year
Strategic Equity Capital outperforms in difficult year – Strategic Equity Capital has announced results for the year ended 30 June 2020. Over the period, the NAV total return was -9.1%, reflecting the impact of COVID-19 on the portfolio. This was quite a bit better than the return on the FTSE Small cap ex Investment Trusts, which […]
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29 Sep 2020 1 min read
Ken Wotton replaces Jeff Harris at Strategic Equity Capital
Ken Wotton replaces Jeff Harris at Strategic Equity Capital – Ken Wotton, managing director and head of the Gresham House Asset Management Public Equity investment team, has been appointed lead fund manager of Strategic Equity Capital and will work alongside current fund manager, Adam Khanbhai. The board says that Ken brings great experience and expertise, as […]
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15 May 2020 1 min read
Strategic Equity Capital and Gresham House become official on 21 May
Further to its announcement on 27 March 2020, Strategic Equity Capital (SEC) has announced that it has entered into an investment management agreement with Gresham House Asset Management Limited (GHAM) as the Company’s new investment manager and alternative investment fund manager (AIFM), which will become effective from 21 May 2020. At this point, GVQ Investment […]
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1 min read
QuotedData’s morning briefing 15 May 2020
In QuotedData’s morning briefing 15 May 2020 Having collected 100% of rents due at the end of March, Triple Point Social Housing REIT has raised its dividend target for the year ended 31 December 2020 to 5.18p, 1.7p up on the figure for 2019. It has also appointed Stifel Nicolaus Europe Limited as sole corporate broker and […]
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27 Mar 2020 2 min read
Good news for Strategic Equity Capital
In a surprise move, Strategic Equity Capital (SEC) has sacked its investment manager and shifted its management contract to Gresham House, the fast-growing investment boutique. Gresham House already manages a trust that looks similar to SEC – Gresham House Strategic. Both funds size up potential investments the way a private equity firm would. They try […]
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4 min read
Strategic Equity Capital announces manager change
The Board of Strategic equity Capital (SEC) has announced that, after an extensive review of SEC’s management arrangements, it has entered into heads of terms to appoint Gresham House Asset Management Limited as the Company’s new investment manager and alternative investment fund manager. It is also the intention that the proposed joint venture between Gresham […]
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2 min read
QuotedData’s morning briefing 27 March 2020
In QuotedData’s morning briefing 27 March 2020: As normal life continues to be impacted by the outbreak of covid-19, we have seen a number of updates from companies detailing their responses. Strategic Equity Capital has announced that it is moving its management contract to a new joint venture between Gresham House Asset Management and Aberdeen Standard […]
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02 Oct 2019 1 min read
QuotedData’s other news 2 October 2019
In QuotedData’s other news 2 October 2019: Hadrian’s Wall Secured Lending (HWSL) has provided an update with respect to Biomass Premium Fuels Limited and Biomass Optimum Fuels Limited which separately acquired the assets of Arensis Energy Ltd, Entrade Energy Ltd and Arensis Energy One Ltd out of administration on 21 December 2018. BOFL has entered […]
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7 min read
Strategic Equity Capital beats its benchmark comfortably
Strategic Equity Capital has announced its final results for the year ended 30 June 2019, during which it beat its benchmark comfortably. During the year, the company provided positive NAV and share price total returns (2.2% and 4.8% respectively) while its benchmark fell by 8.6%. The chairman, Richard Hills, points out that this has been […]
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02 Oct 2018 5 min read
Strategic Equity Capital NAV edges higher
Strategic Equity Capital NAV edges higher – Strategic Equity Capital has announced results for the year ended 30 June 2018. On a total return basis, the NAV per share increased by 1.8% during the year, behind the Small Cap ex Investment Trusts return of 6.4%. The share price fell during the year by 1.6%. The board is proposing a final […]
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27 Dec 2017 1 min read
Strategic Equity Capital manager changes hands
Strategic Equity Capital manager changes hands – The senior management of London-based specialist fund manager GVQ Investment Management Limited (“GVQ”) have entered into an agreement to acquire 100% of GVQ from RIT Capital Partners plc (“RIT”), subject to regulatory approval. GVQ currently manages GBP700 million of assets through two Irish listed open-ended funds, the GVQ UK […]
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15 Sep 2017 4 min read
Board discussing fee level at Strategic Equity Capital
Board discussing fee level at Strategic Equity Capital – Over the year to 30 June 2017, Strategic Equity Capital generated an increase of 29.3% in its NAV per share. On a total return basis, the NAV return was 29.6%, which was ahead of the Small Cap ex Investment Trusts Total Return Index which increased by 28.4%. The share […]
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27 Mar 2017 1 min read
Call for buy back at Strategic Equity Capital
The Board of Strategic Equity Capital confirms that the company has received a request to requisition a general meeting from two of its shareholders, Ian Armitage and Growth Financial Services Limited, a subsidiary of Harwood Capital Management, representing 5.02 per cent. of the issued share capital. The proposed resolution Mr Armitage and Harwood wish to put to […]
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21 Feb 2017 1 min read
Strategic Equity Capital reports discussions between shareholders and Harwood Capital
The Board of Strategic Equity Capital understands that Harwood Capital Management and its representatives, of their own volition, are speaking to the company’s shareholders with a view to promoting a scheme that would result in Harwood, or an affiliate thereof, managing some or all of the company’s assets. The Board has been informed that Stuart […]
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10 Feb 2017 3 min read
Strategic Equity Capital – Jeff Harris is the natural successor
Strategic Equity Capital has published its interim report covering the six months ended 31 December 2016 – the NAV per share and the NAV total return per share increased by 13.7% and 14.1% respectively. By contrast, the benchmark returned 18.0%. The chairman’s statement attributes the underperformance to the lack of natural resource exposure in the […]
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07 Feb 2017 1 min read
Stuart Widdowson resigns as manager of Strategic Equity Capital
In a brief statement this morning, it was announced that Stuart Widdowson had resigned as manager of Strategic Equity Capital. At the time of writing the shares are off 6%. The full text of the announcement is reproduced below. The Board of Strategic Equity Capital plc (the “Company”) announces that it has been informed by […]
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1 min read
All trust sectors bar one made money in ’16
UK Smaller Companies was the only investment sector to lose money in 2016 despite a turbulent political and economic landscape, new research has revealed. See more here
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21 Sep 2016 5 min read
Strategic Equity Capital suffers from trickier markets and disappointing newsflow
Strategic Equity Capital, managed by Stuart Widdowson (pictured), has announced its annual results for the year ended 30 June 2016. During the period, the company provided an NAV total return of -8.7% and a share price total return of -22.4%. In comparison, the FTSE Small Cap Index declined by 3.7%. Richard Hills, the trust’s chairman, says […]
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18 Feb 2016 3 min read
Strategic Equity Capital hurt by Tribal holding
Strategic Equity Capital’s interim figures, covering the six months ended 31 December 2015, show the NAV per share and the NAV total return per share decreased by 2.3% and 2.0% respectively. The Chairman’s statement says that aside from the exceptionally disappointing returns from one investment, Tribal Group, the vast majority of the remaining portfolio performed […]
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18 Sep 2015 1 min read
Strategic Equity Capital reports on blockbuster year
Strategic Equity Capital (which we recently published a note on) has announced results for the year ended 30 June 2015. The Company’s Net Asset Value Total Return per share was 25.8% over the twelve months ended 30 June 2015, exceeding the comparable FTSE Smaller Companies ex Investment Companies Index by 17.4% over the same period. Shareholders did much […]
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22 Jul 2015 1 min read
The Investment Trust winners and losers in Q2
UK smaller companies funds feature quite prevalently in the lists on the back of a decisive election result in the UK and some funds close to the end of their lives made significant progress during the quarter for stock specific reasons. http://whichinvestmenttrust.com/the-investment-trust-winners-and-losers-in-q2/
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20 Jul 2015 1 min read
UK smaller companies trusts dominate Q2 best-performers
UK small-caps has emerged as the stand-out sector for investment trusts in Q2 2015, according to statistics from QuotedData. The report, published 16 June, showed that UK smaller companies-focused mandates accounted for the majority of best-performing funds in NAV terms for the quarter. http://www.portfolio-adviser.com/news/1023811/uk-companies-trusts-dominate-q2-performers
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16 Jul 2015 1 min read
Small company investment trusts got election boost
Investment trusts specialising in smaller companies were among the top performers of the past few months after a decisive election result improved confidence in the sector, new research shows. But commodity and Asia-focused investment trusts were among the stragglers as investors shunned stocks exposed to an economic slowdown in China or a US rate rise, […]
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29 May 2015 1 min read
Capital Gearing to adopt zero discount policy
Capital Gearing has announced results for the year ended 5 April 2015. Over the year the net asset value grew by 5.7% but the share price fell by 0.7% as the shares moved to trade on a lower premium to asset value. The dividend was increased by 25% to 20p. The persistent premium that the […]
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19 May 2014 1 min read
Strategic Equity Capital : SEC – retaining GVOIM as investment manager
Strategic Equity Capital has reviewed its management arrangements following the departure of Adam Steiner and Jonathan Morgan from GVOIM (the company’s managers). It has decided to retain GVOIM and has reinstated the 4% tender it suspended when the resignations were announced. Strategic Equity Capital’s portfolio management team now comprises Stuart Widdowson and Jeff Harris.
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06 Mar 2014 1 min read
RIT Capital Partners : RCP – annual results
Over the year ended 31 December 2013 RIT Capital Partners generated a total return on net assets of 18.6%. Its discount widened a little and so the return to shareholders was 14.0%. By contrast the return on the MSCI All Country World Index (after some fiddling around with currencies – they use 50% translated back […]
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27 Feb 2014 1 min read
Strategic Equity Capital : SEC – half year report
Strategic Equity Capital’s net asset value rose by 29.4% over the second half of 2013, 4.6% more than the return on the FTSE Smaller Companies ex Investment Companies Index. The manager’s reports notes five stocks that made a significant contribution to SEC’s performance during the period – E2V technologies, Wilmington, 4imprint, Andor Technology (recently highlighted […]
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23 May 2025 1 min read
A fund pick for every flavour of small-cap
By Matteo Anelli, Senior reporter, Trustnet, 23 May 2025: After a bruising few years, small-cap investing is out of favour but not out of opportunities. In the UK, some of the best-known small-cap names have struggled, including abrdn UK Smaller Companies, Liontrust UK Smaller Companies and IFSL Marlborough UK Micro-Cap Growth. It’s no coincidence, however, […]
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27 Sep 2023 1 min read
Small investments trusts: which to back, and which to avoid
by Cherry Reynard from interactive investor, 27th September 2023: Small is becoming less beautiful in the investment trust world. Problems of wider discounts, poor liquidity and even – in some cases – weaker performance, have started to worry investors. Another headwind is that wealth managers often won’t touch investment trusts with less than £250 million […]
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22 Jun 2023 2 min read
Home Truths
James Carthew for Portfolio Adviser, 21 June 2023: For many years, there was a tendency among UK-based investment managers and financial advisers to overweight domestic stocks within client portfolios. As a result, we saw a proliferation of investment companies with a narrow focus on UK-listed businesses. Today, 54 investment companies have a listed UK equity […]
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16 Jan 2023 1 min read
Investment trust insider on running last year’s winners
James Carthew: Some 2022 winners are worth holding onto this year I’m uneasy about the resilience of the recent stock market rally. Despite this, I think a few of last year’s big gainers could do well again in 2023. Against a difficult backdrop, only about a third of investment companies generated a positive share price […]
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22 Feb 2022 1 min read
Did investment trusts deliver enough consolidation in 2021?
Over £700m in deals produced a record year, but some say more mergers need to take place Jessica Tasman-Jones, Portfolio Adviser, 15 Feb 22: Investment trust boards have been accused of inertia when it comes to consolidation even after 2021 produced a record five deals worth £708m. This month, shareholders in beleaguered UK Mortgages discovered the […]
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23 Dec 2021 1 min read
GHAM and Harwood Capital battle spreads
By Jessica Tasman-Jones, Portfolio Adviser, 23 Dec 21 Strategic Equity Capital shareholders seek to drop Ken Wotton a year after his appointment and join forces with Odyssean The terse battle between Gresham House Asset Management and Harwood Capital over Gresham House Strategic appears to have spilled over into a new investment trust with shareholders in […]
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31 Aug 2021 1 min read
Gresham House bolsters strategic equity
Investment Week, James Baxter-Derrington 26 August 2021 • 2 min read Gresham House has expanded its strategic equity team with the appointment of two investment managers across its UK equity fund range. Amber Stone-Brown and Cassie Herlihy join the Ken Wotton-led team, and will work across the firm’s UK equity rang, including LF Gresham House […]
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24 Mar 2021 1 min read
Investment trust shareholder rights a beginner’s guide
Investment trust shareholder rights: a beginner’s guide by Kyle Caldwell from interactive investor | 23rd March 2021 14:04 We explain everything investors in investment trusts need to know about their shareholder rights and why voting matters. One of the longstanding, but perhaps understated structural advantages of investment trusts versus funds is their independent board of directors. It is their job […]
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17 Dec 2020 1 min read
Shape the things to come
SHAPE THE THINGS TO COME Portfolio Adviser IT Guide, 16 December 2020 James Carthew, Director QuotedData Shareholders in investment companies have a significant edge over their open-ended counterparts when it comes to seeking out ESG-oriented investments The investment world has a big role to play in shaping the future of the planet for the benefit […]
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05 Aug 2020 1 min read
Bargain Hunter: cheapest equity investment trusts revealed
Bargain Hunter: cheapest equity investment trusts revealed by Kyle Caldwell from interactive investor | 4th August 2020 12:53 Research in the equity investment trust universe highlights the biggest potential bargains… Research for interactive investor by QuotedData screened the equity investment trusts with assets of at least £10 million for potential bargains. The data (as at 3 August) shows some trusts […]
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25 Feb 2020 1 min read
What does the future hold for investment trust activism?
Lauren Mason for Investment Week What does the future hold for investment trust activism? – QuotedData’s James Carthew shares his views An active year for trust boards According to NAVF’s website, the management team will pursue “multiple activist strategies” including communication with management teams and boards, putting company representatives on the board of investee companies, […]
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13 Jan 2020 1 min read
Equity trusts offer value as renewables and infrastructure premiums climb
Equity trusts offer value as renewables and infrastructure premiums climb By David Brenchley Investment company discounts moving into 2020 have “never been tighter”, but trust buyers are still seeing bargain opportunities in a number of equity-oriented mandates… Through 2019, the renewables sector re-rated from a 4% premium at the beginning of the year to a […]
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07 Feb 2019 1 min read
Investment Trust Insider on the past decade
Investment Trust Insider on the past decade – James Carthew: the constant evolution of investment trusts A decade ago, when we were emerging from the global financial crisis, I was managing Advance UK Trust and Citywire was just 10 years old. All of this seems like a long time ago now. Recently, I found a Winterflood […]
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27 Nov 2018 1 min read
Investment trust insider on Gresham Strategic and Aurora
Investment trust insider on Gresham Strategic and Aurora – James Carthew: private-equity, small-cap pickers good value Could value-style approaches do well in the current market environment? The universe of UK smaller company investment trusts using private equity techniques to evaluate listed companies once consisted solely of Strategic Equity Capital (SEC). It has proliferated however, and now […]
