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Overview

We are long term, active UK equity stock pickers. As traditional UK equity investors we adopt a common-sense approach in what we do – long only, profitable, UK listed, direct equity investment. Our rigorous fundamental research process enables us to identify the very best opportunities within the universe whilst keeping the spotlight on balance sheet quality, business model sustainability and valuation. We apply a naturally sceptical approach to our asset valuation process, maintaining awareness of the bear case scenario and the impact to investor returns. With no intentional style bias our portfolios offer high quality exposure across the capitalization spectrum managed in a collaborative environment from the heart of Leeds, UK.

Our UK Mid Cap portfolios are aligned to the same overarching common-sense philosophy applied across the team. We believe that high quality UK companies generating sustainable cash flows and trading on reasonable multiples offer significant potential to outperform the broader market over the long term.

We remain differentiated with a disciplined focus on the FTSE 250 which we believe offers diverse investment opportunities and exposure to attractive, high-growth companies. Our concentrated approach provides investors with high conviction, pure UK exposure underpinned by the domestic nature of the FTSE 250, and a materially distinct earnings profile to that of the FTSE 100.

Key Information

To grow in value by more than the FTSE 250 (ex-Investment Trusts) Index, from a combination of income and investment growth over a three to five-year period net of fees and costs FTSE 250 (ex-Investment Trusts) Index.

Portfolio characteristics UK Mid-Cap
Objective Long-Term Growth
Asset Class Equities
StyleCore / Quality
Investable UniverseUK
Benchmark FTSE 250 (ex-Investment Trusts) Index
AllocationUK shares listed on the FTSE 250
Market capitalisation Mid-cap
Number of stocks 30-50
Portfolio turnover 20-40%
Inception  July 1999

  • "Our concentrated approach provides investors with high conviction, pure UK exposure underpinned by the domestic nature of the FTSE 250, and a materially distinct earnings profile to that of the FTSE 100."

Why Invest in UK Mid Cap

Heritage

Pragmatic investors

We like to keep things simple. With a sole focus on long only, profitable, UK listed, direct equity investment, we can evade futile distractions

Heritage

Quality bedrock

We keep the spotlight on balance sheet and business model resilience, constructing reasonably valued core portfolios comprised of quality companies listed in the UK

Heritage

Culture of collaboration

Our close-knit team champion a collaborative desk-based environment from the heart of Leeds, where we have been managing concentrated UK equity portfolios for over two decades


Investment Team

Richard Bullas

Job title
Co-Head, UK Equities (Small & Mid Cap)
Ben Russon

Ben Russon

Job title
Co-Head, UK Equities (Large Cap)
Dan Green

Dan Green

Job title
Portfolio Manager & Research Analyst

Marcus Tregoning

Job title
Portfolio Manager & Research Analyst

Will Bradwell

Job title
Portfolio Manager & Research Analyst
Jo Rands

Jo Rands

Job title
Portfolio Manager & Research Analyst
Courtney Westcar

Courtney Westcarr

Job title
Research Analyst

Our Capabilities

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