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Tech tips: Giles Hargreave reveals his favourite minnows

Giles Hargreave, manager of the Marlborough UK Micro Cap Growth fund, shares the small technology stocks he's backing to make it big.

 

‘The reason the shares have come back recently is due to some disappointment in a deal which hasn’t materialised yet, but we originally bought these shares around about 3p or 4p and they have been up to 16p and we’re now waiting for news about the deal in the States.’

Oil sector picks

One of the big winners for the fund has been Cove Energy (COVE.L), which has more than doubled its share price amid a bidding war between Shell (RDSb.L) and Asian rival PTT.

‘We sold out over the last few months and made a great deal of money in the stock. When there was a pause in the deal because of the Mozambique government asking for capital gains tax we thought that was the moment to sell out.

‘In fact we probably sold out a bit prematurely, because rather surprisingly the Thai government oil company has come back and counterbid Shell, which is a rather remarkable happening, but we did incredibly well out of the stock.’

Hargreave is also looking to other resource companies having made big profits in Cove Energy earlier in the year.

‘There’s an exploration company called Amerisur (AMER.L) which is operating in Colombia which has made a major oil discovery there and it now drilling to broaden the oil field, and the shares could be tremendously cheap’, he adds.

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