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ODYSSEAN INVESTMENT TRUST PLC
Fund Information / Factsheet • Dec 10, 2021
5000_rns_2021-12-10_fa05b4a6-5553-4db6-b537-b2a54416309b.pdf
Fund Information / Factsheet
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Factsheet
30 November 2021 oitplc.com | +44 (0)20 7640 3200 | [email protected]
Investment Objective & Strategy
Odyssean Investment Trust PLC ("OIT") is a closed-ended investment company that seeks to generate attractive total returns principally through capital growth over a medium term.
OIT's investment strategy is to invest in a concentrated portfolio of well researched quoted UK smaller companies, typically too small for inclusion in the FTSE 250. These companies will be selected through a rigorous process, and all have potential to generate improved returns to their shareholders.
Constructive corporate engagement is a key part of Odyssean's approach, drawing on the investment team's lengthy and successful track record in public and private equity investing.
Manager Odyssean
Capital
st May 2018
Key facts: 30 November 2021
Launch date 1
| Performance | (%) | |||||||
|---|---|---|---|---|---|---|---|---|
| L3M* | L12M | L36M | ITD** | YTD * |
2020 | 2019 | 2018* | |
| NAV | -5.9 | 26.5 | 59.7 | 56.7 | 17.9 | 13.1 | 22.0 | (3.7) |
| Share price | -7.5 | 34.1 | 53.5 | 53.5 | 19.0 | 14.2 | 17.7 | (4.0) |
| NSCI +AIM ex IC TR | -6.4 | 24.5 | 39.6 | 25.2 | 14.9 | 4.9 | 22.2 | (15.0) |
NAV per share and share price1 vs rebased comparator index3
Top 10 positions as % of NAV2
| 31 March | ||||||
|---|---|---|---|---|---|---|
| Weight % | ||||||
| 6.5 | ||||||
| 6.5 | ||||||
| 153.50p | Services | |||||
| 154.05p | 5.5 | |||||
| (0.4%) | 5.3 | |||||
| 15 | 4.8 | |||||
| 5.8% | Total 76.5% | |||||
| 144.2m 143.6m |
Company Elementis Curtis Banks Flowtech Clinigen Chemring |
Sector Industrials Financial Bus.Services Healthcare Industrials |
Weight % 12.4 9.6 9.2 8.7 8.0 |
Company Benchmark Xaar Wilmington Euromoney Spire |
Sector Healthcare Industrials TMT TMT Healthcare |
Source: 1 Odyssean Capital, Morningstar, Bloomberg, Numis Securities. 2 Odyssean Capital. 3 NSC + AIM ex IT. This index is used as a Comparator not a benchmark, and it is shown for comparison purposes only. All data as at 30 November 2021. *2018 performance started 1st May 2018, the Share Price being 100p at launch. L3M = Last 3 Months L12M = Last 12 months L36M = Last 3 Years Date ITD= Inception To Date **Inception 1st May 2018 ***2021 YTD to 30 November 2021
Important Information
Performance figures refer to the past. Past performance is not a reliable indicator of current or future performance and should not be the sole factor of consideration when selecting a product or strategy. Net asset value (NAV) performance is not the same as share price performance and shareholders may realise returns that are lower or higher than NAV performance.
Nothing in this factsheet should be construed as advice and is therefore not a recommendation to buy or sell shares in OIT. An investment trust should be considered only as part of a balanced portfolio. OIT's portfolio is focused towards small and mid-sized companies; these may involve a higher degree of risk than larger sized companies. To ensure you understand whether this product is suitable against your individual needs and risk tolerance, please read the prospectus and the key information document, available at www.oitplc.com, which provides more information about the risk profile of the investment. If you are in any doubt as to the suitability of OIT for your investment needs, we recommend you seek independent professional advice prior to investing.
Factsheet
30 November 2021 oitplc.com | +44 (0)20 7640 3200 | [email protected]
Experienced Fund Management Team
Stuart and Ed have more than 33 years' combined investment experience in smaller companies.
Stuart was previously lead manager of GVQIM's strategic investment funds which saw him drive the turnaround in performance and discount of Strategic Equity Capital plc, a UK listed investment trust.
Ed was a principal in the European TMT investment team at HgCapital where he was responsible for sourcing, evaluating and managing investments in the TMT sector in UK, Europe & USA
Discount Control
Shareholders will be given an exit opportunity at NAV less costs, every seventh year following admission.
The Directors have adopted a discount management policy to establish and support an improved rating in the Company's shares through the use of buybacks. Buyback authority will be sought on an annual basis. In addition, 50% of profit from takeovers is to be used to buy back shares if the average discount exceeds 5% for over 60 days.
How to Invest
The Company's shares are traded openly on the London Stock Exchange and can be purchased through a stock broker, platform or other financial intermediary.
Equiniti provide online, telephone and postal share dealing services. Full details, including rates and charges can be found at www.shareview.co.uk.
The telephone number for their share dealing service is 03456 037 037. Further information on the Company is available at www.oitplc.com.
Stuart Widdowson Ed Wielechowski
Skin in the Game
Ed and Stuart have a combined holding of 2,086,683 shares in OIT.
Charges
| AMC | Lower of 1% of NAV or market capitalisation |
||||
|---|---|---|---|---|---|
| 10% above rolling 3 year | |||||
| Performance fee | (NSCI + AIM ex IT +1% p.a.) | ||||
| Codes | |||||
| Sedol | BFFK7H5 | ||||
| ISIN | GB00BFFK7H57 | ||||
| Bloomberg | OIT | ||||
| Board of Directors | |||||
| Jane Tufnell | Peter Hewitt | ||||
| Arabella Cecil | Richard King | ||||
| Distribution Partner | |||||
| Frostrow Capital | David Harris |
Important Information
This factsheet (the "Factsheet") is intended for information purposes only and does not constitute an offer, solicitation or investment recommendation for the purchase or sale of any securities or financial instruments and should not be relied on by any person for making an investment decision. Any forecast, projection or target is indicative only and not guaranteed in any way and any views expressed in this Factsheet are those of the OIT's investment manager, Odyssean Capital LLP (the "Investment Manager"), and do not constitute investment advice and may be subject to change without notice. Past performance is not a reliable indicator of current or future performance, and investors may not get back the original amount invested. Whilst the Investment Manager has used all reasonable endeavours to ensure the accuracy of information contained in this Factsheet, it cannot guarantee the reliability, completeness or accuracy of such content. Neither the Investment Manager nor the Company OIT accepts any liability whatsoever for any loss (whether direct or indirect) arising from any use of this Factsheet or its contents, save as prohibited under applicable laws and regulations*. The Investment Manager is authorised and regulated by the Financial Conduct Authority and registered in England and Wales (Company Number: OC417961). Its registered office address is 6 Stratton Street, Mayfair, London W1J 8LD United Kingdom.
* We have qualified this sentence with 'save as prohibited under applicable laws and regulations' because: the Investment Manager and the Company cannot limit their liability for fraud; the Investment Manager has an overriding duty to be fair, clear and not misleading in all its communications (under COBS 4); and Part 7 of the Financial Services Act 2012 creates criminal offences relating to certain misleading statements and practices.