The company offers investors a rare opportunity to invest, via a closed-ended vehicle in the micro cap part of the market, into companies with a market capitalisation of less than £100 million.
Why UK micro cap?
Investors can have access to the vast potential of opportunity in this under-researched sector, which our specialist team has the ability to analyse through their proven Potential, Valuation and Timing (PVT) process.
By virtue of operating within a closed-ended vehicle, we can take a high-conviction, concentrated approach – holding approximately 40 stocks – which is not usually possible with open-ended structures.
Investment philosophy and process
The portfolio manager invests according to River and Mercantile's long established PVT philosophy, where stocks are evaluated by a combination of their potential to create value, their valuation and the timing of buying into a position.
Sophisticated quantitative analysis and intelligent screening finds only the best opportunities for the manager and investment team to debate and validate by applying rigorous fundamental research.
Performance
Views from the manager
Watch the latest webinar with George Ensor in which he discusses the portfolio, the market and his current thinking re positioning and outlook.
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About the fund manager
George Ensor
Portfolio Manager
George graduated from Bristol University with an Upper Second Class degree in Chemistry in 2008 before joining Smith & Williamson Investment Management as a graduate trainee where he worked for five years as an analyst and Private Client Investment Manager.
George joined R&M in March 2014 as a UK equity analyst and is currently Portfolio Manager of the UK Micro Cap Investment Company Limited and the ES River and Mercantile UK Listed Smaller Companies Fund. George is a CFA charter holder.
Company literature
Speak to our team
Simon Smith
Head of Wholesale Distribution
Simon Smith
Head of Wholesale Distribution
Simon Smith is Managing Director, and Head of UK Wholesale Distribution, responsible for creating a market leading customer centric distribution business working with wealth managers across the UK for the benefit of investors. Simon has spent a 25 year career working for some of the industry's leading asset managers including M&G, Standard Life Investments and most recently nine years overseeing the growth of Merian UK Wholesale (Old Mutual Global Investors).
Marcus Honig
Sales Director, London
Marcus Honig
Sales Director, London
Marcus graduated from Glasgow University with an MA (Hons) degree in 2001. Throughout his career in financial services Marcus has worked for companies including Chase de Vere, Scottish Widows and Neptune Investment Management, before joining R&M in June 2017. Marcus holds the CII Level 4 Diploma in Regulated Financial Planning as well as the Certificate in Discretionary Investment Management. He is an experienced Sales and Distribution professional with strong client relationships across the UK.
Martin Canavan
Sales Director, North England, Scotland, Ireland & Isle of Man
Martin Canavan
Sales Director, North England, Scotland, Ireland & Isle of Man
Martin began his career in asset management sales in 1996 with Deutsche Bank. He has since held roles with AEGON Asset Management and Merian Global Investors (formerly Old Mutual), before joining R&M in August 2020. He is a highly experienced Sales professional with strong relationships across a range of client segments, covering the UK, Isle of Man and Ireland. Martin holds the Investment Management Certificate.
Nick Pearse
Sales Director, Midlands, South East, South West & Channel Islands
Nick Pearse
Sales Director, Midlands, South East, South West & Channel Islands
Nick joined R&M in January 2021 from Jupiter, which acquired Merian Global Investors in 2020, where Nick worked for the past decade.
About the River and Mercantile UK Micro Cap Investment Company
River and Mercantile UK Micro Cap Investment Company Limited is a closed-ended investment company limited by shares, registered and incorporated in Guernsey under the Companies Law on 2 October 2014, with registered number 59106. It is regulated in Guernsey by the Guernsey Financial Services Commission (GFSC).
The Company is a non-cellular investment company and has been declared by the GFSC to be a registered closed-ended collective investment scheme. The manager of the Company is Carne Global AIFM Solutions (C.I.) Limited (the “Manager”), which has delegated portfolio management to River and Mercantile Asset Management LLP (the “Portfolio Manager”). However, the Board will actively and continuously supervise both the Manager and the Portfolio Manager in the performance of their respective functions.
The Company’s investment objective is to achieve long term capital growth from investment in a diversified portfolio of UK Micro Cap Companies, typically comprising companies with a free float market capitalisation of less than £100m at the time of purchase.
Carne Global AIFM Solutions (C.I.) Ltd has been appointed as Manager to the fund under the terms of the AIFM Agreement.
Carne Global AIFM Solutions (C.I.) Ltd is a Jersey incorporated company specialising in the provision of AIFM Management Company Services and is regulated by the Jersey Financial Services Commission for the conduct of Fund Services Business. The company was incorporated on the 21 July 2014 and is 100% owned by the ultimate parent company being Carne Global Financial Services Ltd (Ireland).
Carne Global Financial Services Ltd (Ireland) is a privately owned company incorporated in Ireland and is the ultimate parent company to the Carne Group.
The Association of Investment Companies
River and Mercantile UK Micro Cap Investment Company Limited Is a non-cellular investment company. For more details on investment companies, please visit the AIC.
In the world of UK micro-caps, valuations are attractive and the lack of broker guidance for smaller companies leaves an excellent opportunity for uncovering profitable gems.
Andrew Chapman, Chairman of river and mercantile uk micro cap investment company. October 2020
Governance
Learn more about the Board of Directors, the governance committees and Terms of Reference.
Regulatory news
Read the latest RNS releases from River and Mercantile Group PLC.
Financial calendar
Financial year end
30 September
Interim reporting period
31 March
Carne Group
Channel House
Green Street
St Helier
Jersey
JE2 4UH
Phone: 01534 679510
www.carnegroup.com
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