Special Sits

Question 1

What is it?

Answer 1

Managed service that invests specifically into small and medium sized uk companies

Question 2

What is a Secondary Offering?

Answer 2

A secondary offering is the sale of new or closely held shares by a company that has already made an initial public offering (IPO)

Question 3

Special sits fees?

Answer 3

2% AMC - £25 PER Trade - 10% fee of all profits for performance (if above previous high water mark, is a positive return and has to outperform the index)

Question 4

What is benchmark?

Answer 4

FTSE All Share

Question 5

Minimum requirement?

Answer 5

£30k

Question 6

Give an example of an uncorrelated asset class that special situations has invested in?

Answer 6

Derivatives (put options) and also commodities (gold)

Question 7

What doesn’t SS invest in?

Answer 7

Travel and Leisure are top sector weightings. Also invest in House Builders/ Utilities

Question 8

Total liquid wealth invested in SS?

Answer 8

15% market pro - 10% for retail

Question 9

Name a company?

Answer 9

Jet2 / Seeing machines - MC of £300M - enabling visionary sensors on cars to improve road safety

Question 10

Min/Max market cap?

Answer 10

30m - 3bn

Question 11

Listing?

Answer 11

Predominantly UK listed - although not all UK centric earnings (MP Evans)