Vocus Communications founder launches new fund
Vocus Communications founder, and former chief executive, James Spenceley, has joined forces with a fund manager, Gary Rollo, to launch MHOR Asset Management.
MHOR's first fund provided investors with exposure to a diverse portfolio of high-growth smaller companies, listed or soon to be listed on the Australian Securities Exchange (ASX).
Spenceley and Rollo targeted the small cap area in the equity market, which would see them leverage off their combined funds management and entrepreneurial experience.
Their combined experience also included establishing, growing and running an ASX-listed business.
"Small caps are often overlooked by investors because it takes significant work to assess growth potential. The market is inefficient for them as very few brokers cover stocks in early stages, and this creates huge opportunities," Spenceley said.
"We will work together to assess not just the financials but the management capabilities of businesses so we can build up a portfolio of high quality businesses."
MHOR would be Spenceley's first business venture since he founded Vocus Communication 10 years ago, after it grew from a $25 million small cap business, to a multibillion dollar ASX100 listed business in 2016.
MHOR soft launched the fund in August and there had already been about $10 million in inflows, while the fund had already generated 3.1 per cent against the benchmark index, which was marginally down.
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