Rockwood Strategic Plc (RKW) ORD GBP0.05

Rockwood Strategic plc is a United Kingdom-based investment trust. The Company invests in a focused portfolio of smaller United Kingdom public companies. The investment objective is to make investments capable of delivering 15% Internal Rates of Return (IRR) over the medium term. The strategy identifies undervalued investment opportunities where the potential exists to improve returns and where the Company is benefitting, or will benefit, from operational, strategic or management changes. The purpose of the Company is to achieve capital growth in its shareholders' wealth over time. It aims to achieve this by using its closed-ended structure to invest in a concentrated number of smaller quoted companies, which the investment manager believes are undervalued and could be generating higher returns for their shareholders. It intends to invest the majority of its capital in a concentrated portfolio of up to 10 core investments. Its investment manager is Harwood Capital LLP.

The Company seeks investments in securities that the Investment Manager believes can generate a 15% IRR over the medium to long-term, principally through capital appreciation, and typically expects a holding period of at least three to five years. Investments are sought where the securities are valued at less than the Investment Manager's view of their intrinsic value. The Investment Manager seeks to invest in businesses which it believes offer opportunities for value to be unlocked or created through strategic, management or operational changes, typically leading to improved returns, profits and growth

• Ongoing charge1.58%
• Annual management charge -
• Performance feeYes

Management fee of GBP 120,000 p.a. less than GBP 60m NAV, 1% thereafter. The performance fee equals to 10% of outperformance over the higher of a 6% p.a. total return hurdle and the high watermark.