News & Information

Lots has been written on the election results’ impact and potential impact for UK equities. We do not propose to compete with these other than to concur that an end to uncertainty over the UK’s relationship with the EU and an expected striking of a trade deal with the EU are positive for UK equities,… Click to find out more

We participated in eight primary opportunities – Bovis Homes and Brooks Macdonald raised fresh capital whilst there were secondary sell downs in Breedon, SCS, Trainline, Network International, Team17 and Future. With markets showing some signs of nervousness over global trade wars and a UK general election, we are seeing larger discounts than usual being offered… Click to find out more

We participated in five primary opportunities – Duke Royalty, 3i Infrastructure, Sigmaroc and WH Smith raised new capital whilst there was a secondary sell down in IntegraFin. In October, the IFSL RC Brown UK Primary Opportunities Fund returned -0.91% compared with -1.40% for the FTSE All Share and -0.28% for the IA UK All Companies… Click to find out more

We participated in five primary opportunities – Primary Health Properties raised new capital whilst there were secondary sell downs in Network International, Motorpoint, Trainline and IP Group, the latter being our third purchase from Woodford Investment Management in the past few months. We also took advantage of the sharp rebound in sterling and bond yields… Click to find out more

We participated in two primary opportunities – Equals Group raised money and Brickability made its market debut at IPO. In August, the IFSL RC Brown UK Primary Opportunities Fund returned -4.36% compared with -3.57% for the FTSE All Share and -3.30% for the IA UK All Companies Sector. Our underweight position in the Mid Cap… Click to find out more

Investors have ditched ‘unloved’ smaller companies for private equity or bond proxies. High profile fund managers and buyers have questioned why some multi-asset funds have up to 20% in private equity in order to diversify portfolios when better value appears to exist at the bottom end of public markets. Speaking at a recent Merian Global… Click to find out more

We participated in six primary opportunities in July in what proved another busy month for primary opportunities – Regional REIT, IMImobile, Renalytix AI & Synthomer all raised new money. There were secondary sell downs in Anglo American and Morses Club, the latter we purchased from Woodford Investment Management, the second discounted stock we have purchased… Click to find out more

The wave of uncertainty unleashed by the Brexit referendum on 23 June 2016 has crashed over the UK’s domestic economy and stockmarket, leaving fund selectors wondering if now is a good time to invest in UK assets. Since the vote, politicians have been playing fast and loose with the country’s future: the European Union withdrawal… Click to find out more

We participated in six primary opportunities in June in what proved another busy month for primary opportunities – LXI Reit raised new money and there were secondary placings in AJ Bell, Ten Entertainment Group and Codemasters. The Trainline and Argentex both made successful IPO’s. In June, the IFSL RC Brown UK Primary Opportunities Fund returned… Click to find out more

We participated in six primary opportunities in May in what was a busy month for opportunities – Brewin Dolphin, Sirius Minerals, Marlowe and Tritax Eurobox all raised fresh capital. Essensys was bought at IPO and we added to our holding in Hargreaves Lansdown as part of a secondary selldown. In May, the IFSL RC Brown… Click to find out more

We participated in three primary opportunities in April – Entertainment One, Diversified Oil & Gas and Yourgene Health. We are continuing to see a growing pipeline of potential primary opportunity deals despite the political uncertainty. In April, the IFSL RC Brown UK Primary Opportunities Fund returned +2.98% compared with +2.68% for the FTSE All Share… Click to find out more

Overall, the outlook for primary market fund raising is looking attractive, though it has been a subdued start to the year with the uncertain economic and political outlook. The IPO market in particular has started quietly, but is showing signs of life as we anticipate a pick up as the year progresses. We are already… Click to find out more