Performance of fund vs sector and index over 10yrs
| Name | 1yr returns (%) | 3yr returns (%) | 5yr returns (%) | 10yr returns (%) |
|---|---|---|---|---|
| Jupiter UK Special Sits | 20.12 | 40.52 | 66.66 | 225.76 |
| IMA UK All Companies | 15.22 | 31.26 | 40.63 | 150.78 |
| FTSE All Share | 14.29 | 29.19 | 43.76 | 158.17 |
Source: FE Analytics
Ben Whitmore's portfolio is dominated by the usual FTSE 100 suspects, but the manager also holds a number of lesser-known names located further down the market cap spectrum.
Here are five of them:
Hays
Hays is a London-based recruitment and human resources services firm. It started its life in 1867 as an operator of wharves and warehouses on the south bank of the Thames – what is now Hays Galleria.
It makes up 0.3 per cent of Whitmore’s fund.
According to The Share Centre, the company is trading on a price/earnings (P/E) ratio of 20.2, up from 13.5 last year, meaning it has become more expensive. It is currently yielding 2.6 per cent.
It has lagged the FTSE 250 and FTSE 350 Support Services indices over the last one, three, five and 10 years – owing largely to substantial losses experienced in the falling markets of 2008 and 2011 – though it has delivered positive returns over each period.
Over 10 years, the company has made 84.57 per cent, while the FTSE 250 has gained 351.46 per cent. The FTSE 350 Support Services index rose 209.5 per cent over the period.
Performance of stock vs indices over 10yrs
Source: FE Analytics
Hays has a market cap of £1.3bn.
Two funds in the IMA universe hold Hays in their top-10 – Artemis UK Smaller Companies, headed up by FE Alpha Manager Mark Niznik, and PFS Downing Active Management.
QinetiQ
QinetiQ is a £1.3bn multi-national defence technology company, providing products and services to governments and commercial customers.
The firm was privatised in 2001 – having previously been part of the Defence Evaluation and Research Agency (DERA).
It is yielding 1.8 per cent, in line with its yield over the past three years, and is trading on a P/E ratio of 11.7.
The stock has had a particularly strong year, gaining 42.86 per cent, well ahead of both the FTSE 250 and FTSE 350 Aerospace & Defense indices.
Performance of stock vs indices over 1yr
Source: FE Analytics
It makes up 1.6 per cent of the Special Sits portfolio.
Three funds hold QinetiQ in their top 10, including JOHCM UK Dynamic, headed up by FE Alpha Manager Alex Savvides, and JOHCM UK Growth.
Herald Investment Trust
Whitmore (pictured) is further increasing his exposure to small and mid caps by backing Herald Investment Trust, which focuses on technology, communications and media companies towards the lower end of the market cap spectrum.
According to the AIC, the trust is trading on a discount of 13.6 per cent and is 7 per cent geared. It is nearly flat in terms of yield.
The investment trust makes up 0.3 per cent of Jupiter UK Special Situations' AUM.
Over the last 10 years, the trust has made 259.61 per cent. It has continued to deliver strong returns over one, three and five years.
Peter Walls is a fan of the trust, holding it as one of his top-10 bets in Unicorn Mastertrust. One other fund holds the trust in its top-10.
National Express
Best-known for operating low-cost coach services throughout the UK, the Birmingham-based transport company also operates coach, rail and tram services in the UK, US, Canada, Spain, Portugal and Morocco.
It also runs long-distance coach services across Europe.
It makes up 1.4 per cent of Jupiter Special Situations.
The £1bn company is yielding 4.7 per cent and is trading on a P/E ratio of 9.8.
It has had a bumpy ride over the last decade, losing money over one, five and 10 years.
It has made positive returns of 3.35 per cent over three years; however, the FTSE 250 made 51.41 per cent over this period, according to FE Analytics.
Five funds hold National Express in their top-10 – four of which are SWIP or Scottish Widows Smaller Companies portfolios.
Tullett Prebon
Tullett Prebon is a banking services company, facilitating trading activities for commercial and investment banks. It is one of the largest inter-dealer money brokers in the world.
It is trading on a P/E ratio of 7.4 with an attractive yield of 6.1 per cent. It makes up 1 per cent of the Jupiter Special Sits fund.
The stock has struggled over one, three and five years, delivering negative returns over each period. Over the last half-decade, it has lost 20.93 per cent, according to FE Analytics.
The firm has a market cap of £609.5m.
FE Alpha Managers Adrian Frost and Adrian Gosden hold the company in their Artemis High Income fund’s top-10, as does IFDS Brown Shipley Sterling Bond.