The highly anticipated launch of the Merian Chrysalis Investment Trust earlier in October from the experienced team led by Richard Watts and Nick Williamson, with its focussed approach to investing in pre IPO opportunities, gave a potentially rewarding opportunity to access this exciting private equity market element.
Seneca Investment Managers, with their long term value approach and track record of investing in experienced fund managers in new ventures, capitalised on the launch becoming one of the trust’s significant shareholders.
Funds manager and research lead Richard Parfect at Seneca Investment Managers said:
“We are delighted that the Merian Chrysalis Investment Trust has successfully launched and that we have been able to support this exciting trust from outset. As genuinely active Multi-Asset managers we are always looking out for different opportunities to complement our investor portfolios and in Merian we feel we have found just that.
We have a firm belief that the manager’s strategy of investing in a focussed number of late Private Equity/ Pre IPO opportunities will be rewarding and is an appropriate one for this stage of the economic and market cycle. We know from our experience as private equity investors in AJ Bell for many years that supporting successful, highly motivated owner/managed businesses can prove very profitable.
The “private for longer” theme the Merian team is seeking to capture plays to the strengths of supporting exciting later-stage private companies. The fee structure of the trust gives strong alignment with the management team.
Furthermore, we are confident that, as value investors and cognisant of the importance of “contrarian” investing, supporting such a unique trust launch in testing conditions will reap our investors attractive medium to long term returns.”
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Past performance should not be seen as an indication of future performance. The value of investments and any income may fluctuate and investors may not get back the full amount invested.
The views expressed are those of the fund manager at the time of writing and are subject to change without notice. They are not necessarily the views of Seneca and do not constitute investment advice. Whilst Seneca has used all reasonable efforts to ensure the accuracy of the information contained in this communication, we cannot guarantee the reliability, completeness or accuracy of the content.
This communication provides information for professional use only and should not be relied upon by retail investors as the sole basis for investment.
Seneca Investment Managers Limited (0151 906 2450) is authorised and regulated by the Financial Conduct Authority and is registered in England No. 4325961 with its registered office at 10th Floor, Horton House, Exchange Flags, Liverpool, L2 3YL. FP18-306.