Is Warren Buffett headed to the UK? Well, more in spirit than in body.
For the 90-year-old Sage of Omaha’s investment philosophy that turned him into one of the world’s most successful stock-pickers will be at the heart of a trust that also takes his name.
The Buffettology Smaller Companies Investment Trust is aiming to raise at least £100mln, which it will plough into some of the market’s hidden gems.
It is the brainchild of Sanford DeLand, the boutique asset manager behind the top-performing SDL UK Buffettology fund inspired by billionaire head of Berkshire Hathaway.
The listed vehicle will be run by Keith Ashworth-Lord, the driving force behind the highly-rated, £1.4bn SDL UK Buffettology fund. Over the last three years, it has delivered a 30% return and is ranked second out of more than 200 similar funds for its five-year performance.
Its top holding is Games Workshop, which accounts for just under 10% of the portfolio.
In a statement on the launch of the listing of the new trust, chief investment officer Ashworth-Lord said: "We believe that the UK small-cap market offers excellent investment opportunities to experienced managers who know what to look for and have the freedom to take a long-term view.
“Our business perspective investing approach is ripe for application to smaller companies and presents an opportunity to deliver superior returns for our shareholders, over the long-term.”
Buffettology will be quoted on the premium segment of the official list. The prospectus is expected to be published on or around September 29.