Ollie Beckett has run the trust since 2011 and seeks to achieve the trust’s growth objective by investing primarily in small and medium-sized companies. With a diversified portfolio of around 120 holdings, he is prepared to venture well down the size spectrum in search of companies with exceptional growth potential. He looks for undervalued companies that can either deliver substantial growth or where there is potential for improvements in profitability through self-help.

He and the rest of Janus Henderson’s European equities team generate their own investment ideas and spend a lot of time meeting company management teams. Beckett believes a selling discipline is vital in small company investing and does not hesitate to take profits, with individual holdings usually representing no more than just over 2% of net assets.

October 2020