Launched in 2014, River UK Micro Cap aims to deliver long-term capital growth by identifying and capitalising inefficiencies in the smallest listed companies. These companies, typically with a market capitalisation of less than £100 million, are often poorly researched, and overlooked by the broader market.

George Ensor, portfolio manager of River Uk Micro Cap, brings 17 years of experience investing in small and micro caps companies. His market insight and track record position him well to uncover companies that are capable of generating outsized returns to investors.

The closed end structure is critical to River Uk Micro Cap, enabling it to the liquidity premium. Additionally, the Company employs a distinctive redemption mechanism that returns capital to shareholders when the Company exceeds its optimal size. Since inception, the Company has returned approximately £77 million to shareholders, more that the £70m it has cumulatively raised, delivering an IRR of around 12.8% as of 31 July 2025.

CC Japan Income & Growth Trust PLC (LON: CCJI) is designed to offer investors long-term exposure to both capital growth and income opportunities in Japan. The on-going corporate reforms in Japan, designed to improve returns on the capital invested by companies, may benefit investors in numerous ways. Japanese companies with strong balance sheets, are increasingly returning this cash to shareholders via dividends and/or share buybacks. The investment team, led by Portfolio Manager, Richard Aston, takes a total return, buy and hold approach to investing in Japanese companies of all sizes. The investment team seeks out growing companies that meet their pre-defined investment criteria and that can increase distributions to shareholders over time. CC Japan Income & Growth Trust plc, approaches it’s 10 year anniversary in December and since its launch has grown its dividend year on year and has outperformed its benchmark.

Theo Wyld

Theo is a Portfolio Manager and Analyst on the CC Japan Income & Growth Trust plc.

Theo graduated from Durham University with a degree in Mathematics, before completing a masters in the Mathematics of Finance at Columbia University, NYC. He then spent three years as a Research Analyst covering UK equities and selected global names at an investment manager in London; JM Finn.

In 2018, Theo moved to Ruffer LLP and began his specialism in Japanese equities. He worked on the LF Ruffer Japanese Fund throughout his time at the firm, initially as an Analyst and subsequently as a Co-Fund Manager.

Theo left Ruffer in 2023, joining Chikara Investments LLP in 2024.

Disclaimer

Past performance may not be a reliable guide to future performance. The price of investments and the income from them may fall as well as rise and investors may not get back the full amount invested.