Richard Penny is, by his own admission, a tight-fisted Yorkshireman when it comes to his investments; he likes to find a bargain, and, over his career, he has proven himself very able to do so.
That is why we were happy to put a brand new fund on our Elite Radar last year. FP CRUX UK Special Situations was launched in September 2018, after Richard left Legal & General Investment Management to join the boutique. While very new, it is run in much the same way as L&G UK Special Situations, which Richard ran from 1 May 2014 to 31 December 2017. During that time it returned 51.53% compared with a sector average return of 32.38% in sterling, according to FE. It invests in UK companies of all sizes, but will typically have more of a focus on mid and small caps than many of its ...
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