Montlake an ML Capital Company

The Tosca Micro Cap UCITS Fund (the “Fund”) focuses primarily in UK listed “micro cap” companies (defined as companies with a market capitalisation of up to £250m) and seeks to exploit inefficiencies in this sector of the market. The Fund is managed by Toscafund Asset Management LLP, a London based multi asset manager founded in 2000 by Martin Hughes.

The Fund will be managed by Matthew Siebert and supported by analysts Daniel Cane and Jamie Taylor. They work within and are supported by the team of investment professionals within Toscafund, many with over 20 years of investment experience. The Fund will capitalise on Toscafund’s mid cap expertise, employing the same core skill sets and doing deep dive research into companies, markets, sectors and peers, and benefitting from the existing relationships with analysts, brokers and companies.

The Tosca Micro Cap UCITS Fund is a fundamental, value-orientated strategy, applied to the opportunity-rich UK micro cap sector. The Fund will invest primarily in “micro cap” companies with a market capitalisation of up to £250m that are listed in the UK, and which are or are expected to become constituents of the FTSE Small Cap or the FTSE AIM All Share Index. The Fund aims to achieve risk adjusted returns, targeting >15% (net of fees) p.a.

The Tosca Micro Cap UCITS Fund’s capacity will be set at £50m, and Toscafund partners intend to invest a minimum of 10% in the Fund thus aligning manager interests with their investors. The revised investment policy will also allow for investment of up to 20% of the NAV in companies that have a larger capitalisation, of up to £1bn. The Fund will have a diversified portfolio of 30 to 40 holdings, with risk limits governing position sizing.


KEY POINTS

Tosca Micro Cap UCITS Fund – UK Micro Cap Equity

1

Toscafund is seeking to exploit the information vacuum in UK microcaps and access a fast growing market with opportunities for uncorrelated returns. There are 850+ companies in the AIM & FTSE Small Cap ex Investment Trust Indices.

2

Ability to access an attractive universe of companies with high growth prospects that are neglected by mainstream funds and are poorly understood in the market. Extensive corporate access leveraging the continual pipeline of companies engaging with Toscafund.

3

Experienced, research-led team, backed up by a strong risk management process. Long established track record in managing UK mid cap funds and Tosca Micro Cap UCITS Fund is a continuation of the same proven, fundamental value-orientated strategy. Toscafund’s extensive analytical expertise in primary, proprietary research a key differentiator.

Terms and Conditions Apply

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ML Capital Asset Management Ltd, 23 St. Stephen's Green, Dublin 2, D02 AR55, Ireland is licensed to provide Investment Management services to Professional Clients (including Collective Investment Schemes) by the Central Bank of Ireland.

MontLake UCITS Platform ICAV is an umbrella open-ended Irish collective asset-management vehicle with segregated liability between Funds formed in Ireland under the Irish Collective Asset-management Vehicles Act 2015 and authorised by the Central Bank as a UCITS pursuant to the UCITS Regulations.

The Manager of MontLake UCITS Platform ICAV is MLC Management Ltd, a company regulated by the Central Bank of Ireland. 

This website is directed mainly for professional and institutional clients who possess the necessary experience, knowledge and expertise to make their own investment decisions and properly assess the risk that it incurs.

Information on this website was obtained from various sources and the company does not guarantee its accuracy. The information is for your private use and discussion purposes only and expressed views and opinions may change.

The Performance figures quoted refer to the past and past performance is not a guarantee of future performance or a reliable guide to future performance. The value of your investment and their income may go down as well as up.

Your investment may also be subject to currency, interest rate, as well as market fluctuations. Consequently the Investor may not get back a sum equal to that he / she originally invested.

Investors should note that an investment in those Sub-Funds which may invest in emerging markets should not constitute a substantial proportion of an investment portfolio and may not be appropriate for all investors.

The Sub-Funds may invest in Over the Counter as well as Exchange Traded derivative instruments to enhance return or hedge against fluctuations in security prices or market rates as well as to short sell a security through the use of a derivative instrument. Transactions in derivative instruments involve a risk of loss or depreciation of capital due to adverse changes in security prices, exchange rates or interest rates or in the case of OTC instruments default of Counterparty. This investment may not be suitable for all types of investors. It is therefore recommended that you consult your investment advisor.

A commission or sales fee may be charged at the time of the initial purchase for an investment and may be deducted from the invested amount therefore lowering the size of your investment. The Investment Manager will be entitled to receive a performance fee as well as a management fee, calculated on a daily basis and paid quarterly by the sub-funds.

The Levels and bases of taxation are dependent on individual circumstances and subject to change and therefore it is highly recommended that you consult a professional tax advisor.