Crystal Amber Fund

Overview

Crystal Amber Fund is an AIM-listed activist fund investing predominantly in small and mid-cap UK equities where it identifies opportunities to enhance long-term shareholder value through active engagement with companies. The Fund was founded in 2008, with Richard Bernstein as Investment Adviser. According to Trustnet, over three years, the Fund is the best performing within its peer group of 22 funds, with shareholder returns of 80.8% against a decline of 9.4% in the Investment Trust Smaller Companies Index. The Fund's objective is to provide Shareholders with an attractive total return, which is expected to comprise primarily capital growth but with the potential for distributions, including distributions arising from the realisation of investments. The Fund invests in a concentrated portfolio of undervalued companies predominantly listed on UK markets (usually the Official List or AIM) and which have a typical market capitalisation of between £100 million and £1,000 million. Following investment, the Fund engages with the management of those companies with a view to enhancing value for all their shareholders. When investing in undervalued companies, the Fund aims to promote measures designed to correct the undervaluation. It will seek the co-operation of the investee company's management as far as possible. Where a different ownership structure would enhance value, the Fund will seek to initiate changes to capture such value. The Fund may also seek to modify existing capital structures and introduce greater leverage and/or seek divestiture of certain businesses of the investee company.

Investment Focus

• Invest in small and mid-cap UK companies with market capitalisation between £100 million and £1,000 million
• Engage with company management to enhance shareholder value
• Focus on undervalued companies with potential for value correction

Portfolio Companies