By Emma Wallis, News editor, Trustnet, 4 October 2024:
Experts suggested Literacy Capital, Golden Prospect Precious Metals and Ashoka WhiteOak Emerging Markets.
The investment trust sector has its fair share of heavyweights: from Scottish Mortgage, which usually features near the top of most-bought lists; to Pershing Square and its outspoken billionaire hedge fund manager Bill Ackman; and the UK’s largest investment company 3i Group.
Step away from the obvious names, however, and there are many skilled but lesser-known managers running trusts with stellar track records.
Below, Trustnet asked experts to highlight trusts whose managers are under the radar but merit a higher profile.
Richard Pindar at Literacy Capital
The private equity investment trust sector is dominated by well-known names such as HgCapital and Pantheon Ventures. Yet James Carthew, head of investment companies at QuotedData, believes Literacy Capital is deserving of investors’ attention and has a high opinion of its chief executive officer, Richard Pindar.
After working in corporate finance at KPMG and low- to mid-market private equity at Lonsdale Partners, Richard Pindar co-founded Literacy Capital in 2017 with his father, Paul, and listed it in 2021.
Over the past three years, it has been the best-performing trust in its sector (excluding 3i). Carthew said its stellar track record was “helped by some spectacular successes, such as investments in pet food business Butternut Box and service provider RCI Group”.
“The expectation is for more profitable exits from the portfolio, reflecting its increasing maturity,” he added.
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