Portfolio analysis

We principally invest in UK lower mid-market management buyouts with enterprise values of £20m-£100m.

The portfolio is focused on UK lower mid-market buyouts where we have invested directly or through funds managed by our investment manager, Dunedin LLP.

Valuation basis
color x y actual prefix postfix
#005581 Cost - 7% 7 7% %
#ee8a00 Earnings - provision - 20% 20 20% %
#39939b Earnings - uplift - 68% 68 68% %
#a89900 Net Assets - 5% 5 5%   %
Geographic location
color x y actual prefix postfix
#005581 UK - 79% 79 79% %
#ee8a00 Rest of Europe - 12% 12 12% %
#39939b Cash - 9% 9 9% %
Sector analysis
color x y actual prefix postfix
#005581 Automotive - 2% 2 2% %
#ee8a00 Construction and building materials - 9% 9 9% %
#39939b Consumer products & services - 3% 3 3% %
#a89900 Financial services - 12% 12 12%   %
#e9e7d6 Healthcare - 5% 5 5%   %
#979797 Industrials - 33% 33 33%   %
#a4d7f4 Support services - 34% 34 34%   %
#6052c6 Technology - 2% 2 2%   %
Portfolio age
color x y actual prefix postfix
#005581 Less than one year - 13% 13 13% %
#ee8a00 Between one and three years - 19% 19 19% %
#39939b Between three and five years - 37% 37 37% %
#a89900 More than 5 years - 31% 31 31%   %

Figures as of 31 December 2014