Keep pulling the thread on Lawrence Hulst.
Wealth managers Rathbones, Callanish Capital, and GPIM have each disclosed a greater than 5% stake in the Onward Opportunities investment trust.
As of the end of May, the Net Asset Value (NAV) of the Onward Opportunities fund was up 35% since its inception.
The Onward Opportunities fund is outperforming both the Investment Association UK Smaller Companies and the AIC UK Smaller Companies peer groups by approximately double since its launch.
Pebble Beach Systems announced in February a contract with a global streaming giant for its broadcast software.
When Onward Opportunities invested in Angling Direct in 2023, the company had a market capitalization of approximately £20 million, with £14 million in net cash and £16 million in inventory.
The board of podcast publisher Audioboom, who collectively own 6% of the company, rejected three confirmed cash acquisition bids.
Mincon, a £100 million market cap company dual-listed in London and Euronext, has technology so effective that its larger peer Epiroc is now using its Green Hammer drilling technology.
Onward Opportunities is a long-only investment trust that specializes in UK small-cap companies, which is considered one of the most unpopular parts of the global stock market.
Lawrence Hulst believes the financial world changed fundamentally with the end of the cheap money era, shifting from a "multiple expansion market" to one where investment catalysts and active management are more important.
Onward Opportunities has been outperforming the majority of its UK small-cap fund peers, at times materially, during the first three years of its operation.
According to industry convention, investment trusts typically need to reach a size of £400 million to £600 million to attract investment from wealth managers.
Onward Opportunities charges a 1.5% management fee, which is higher than the industry trend of 0.6% to 0.7% for most investment trusts.