Our portfolio
As at 31 December 2023Where are we looking to deploy private equity capital?
Every young innovative business that we invest in is unique. But there are some characteristics that we consistently look for. Read our article to find out more.
Portfolio picks
Speaking at a Citywire webinar in May 2023, Co-Portfolio Manager Harry Raikes discussed the appeals of some of the Trust's top positions.
Any reference to sectors/countries/stocks/securities are for illustrative purposes only and not a recommendation to buy or sell any financial instrument/securities or adopt any investment strategy.
Top 10 holdings as at 31 December 2023
Oxford Nanopore Technologies is developing and commercialising a new generation of nanopore-based electronic systems for analysis of single molecules, including DNA, RNA and proteins.
Atom Bank is the UK’s first bank built exclusively for mobile. It is redefining what a bank should be, making things easier, more transparent and better value in a world of finance.
HP Environmental Technologies Fund LP is the investment vehicle that acquired Ombu Group Limited, a specialist investor in early and growth stage environmental technologies.
Reaction Engines is developing its innovative SABRE engine to make space and hypersonic travel more efficient and more accessible.
Ada is the world's most popular symptom assessment app, with 10 million users and 25 million completed assessments.
Back Market is contributing to a circular economy as the leading online marketplace dedicated to refurbished devices.
Autolus is a CAR T-cell therapy company. The company applies its extensive programming capabilities to develop advanced autologous T-cell therapies that have the potential to deliver life-changing benefits to cancer patients.
Revolut is a fintech firm that provides banking and payment services. The company offers multi-currency cards and a mobile app that includes currency exchange, peer-to-peer payment and bank transfer solutions. It also offers personal and business banking solutions.
AgroStar uses technology, data, and agronomy knowledge to help many millions of farmers in India.
Nexeon is a world leader in engineered silicon materials for battery applications. Its Li-ion battery anode technology uses silicon instead of graphite.
Company focus: Oxford Nanopore Technologies
Gordon Sanghera, CEO of Oxford Nanopore joined Schroders' Investor Download podcast to discuss how the company's ground-breaking MinION device is shaping the future of medicine.
Company focus: Revolut
Tim Creed, Lead Co-Portfolio Manager outlines why Revolut stands out as a company within the Trust portfolio.
Any reference to sectors/countries/stocks/securities are for illustrative purposes only and not a recommendation to buy or sell any financial instrument/securities or adopt any investment strategy.
What are the risks?
Long-term outcomes are more binary – extremely attractive rewards for success but some businesses will inevitably fail to fulfil their potential and this may expose investors to the risk of capital losses
As it can take years for young businesses to fulfil their potential, this investment requires patience
The price of shares in the trust is determined by market supply and demand, and this may be different to the net asset value of the trust. This means the price may be volatile in response to changes in demand
The trust may invest in overseas securities and be exposed to currencies other than pound sterling – as a result, exchange rate movements may cause the value of the trust, individual investments, and any income paid to decrease or increase
The trust may invest in unquoted securities, which may be less liquid and more difficult to value, because they are generally not publicly traded – the lack of an open market may also make it more difficult to establish fair value
Young businesses have a different risk profile to mature blue-chip companies – risks are much more stock-specific, which implies a lower correlation with equity markets and the wider economy
The Company may borrow money to invest in further investments, this is known as gearing. Gearing will increase returns if the value of the investments purchased increase in value by more than the cost of borrowing, or reduce returns if they fail to do so.