Fund manager interview – FP CRUX UK Special Situations Fund

Fund manager interview – FP CRUX UK Special Situations Fund

Richard Penny discusses the CRUX UK Special Situations Fund, an open-ended, actively managed long-only fund which he has managed since its inception in September 2018. The Fund aims to achieve long-term capital growth through active management, by bottom-up stock picking through the cap scale while maintaining a concentrated portfolio with a maximum of 30% on the AIM market. In this interview Richard discusses why a special situations investment strategy is interesting now and how this evolves over the course of the equity cycle. He discusses his approach for stock screening and selection and the important lessons he has learned during his 26 year career in fund management. Finally he discusses two stocks he holds and the rationale for investing – JD Sports and MaxCyte.


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