Quarterly Factsheet – Q2 2023

Onward Opportunities Limited

14 July 2023

 

14 July 2023

Onward Opportunities Limited

("Onward Opportunities", "ONWD" or the "Company")

QUARTERLY FACTSHEET - Q2 2023

Onward Opportunities Limited is pleased to announce the publication of its first quarterly factsheet to the end of June 2023 following the Company's admission to trading on AIM in March 2023.

Please follow the link below to access the Q2 2023 fact sheet, which will also be available to download from the Company's website at www.onwardopportunities.co.uk.

https://onwardopportunities.co.uk/wp-content/uploads/2023/07/Dowgate-Wealth-Onward-Opportunities-Limited-Q2-2023-Factsheet.pdf

As at 30 June 2023, the unaudited net asset value per ordinary share was 96.42 pence per share, an increase of 0.71% when compared to 31 May 2023.

Q2 2023 Portfolio Manager Commentary

In what has been a weaker quarter for UK indices, with the FTSE AIM All Share down 6.5%, the Company's positive NAV performance in Q2 2023 (+0.8% when compared to 31 March 2023) has been encouraging, with NAV performance in June 2023 driven mainly by positive performance in what has been the Company's first core position in Angling Direct plc, which is now the Company's largest equity holding. 

Post IPO, 98% of the Company's NAV was deployed into 10 UK Gilts and treasury-bills that are earning a running yield in excess of 4% for the Company. Subsequently, 6% of NAV was deployed into Angling Direct plc (AIM: ANG) and a further c.12% of ONWD NAV has been deployed into 6 further initial equity investments - each being c.2% NAV or less. Further information can be found in the Q2 2023 factsheet.

For further information, please contact:

Onward Opportunities Limited Andrew Henton, Chairman Dowgate Wealth Limited (Portfolio Manager) Laurence Hulse, Investment Director	Tel: [phone] [e-mail] Tel: [phone] [e-mail]
Maitland Administration (Guernsey) Limited (Company Secretary) Martin Baxter / Harry Rouillard	Tel: [phone] [e-mail]
Cenkos Securities plc (Nominated Adviser and Joint Broker) Ben Jeynes/Camilla Hume	Tel: [phone]
Dowgate Capital Limited (Joint Broker) Russell Cooke / Nicholas Chambers	Tel: [phone]

 

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