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My top five equity bargains: Giles Hargreave & Oliver Bedford

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by Elsa Buchanan on Feb 25, 2014 at 11:18

In the second part of our series running this week on where fund managers are finding equity bargains, we speak to Citywire AA-rated AIM specialists Giles Hargreave and Oliver Bedford.  

This week, Wealth Manager is speaking to five managers about their top bargain stocks with good growth prospects.

Today we speak to Citywire A-rated Giles Hargreave (pictured) and Oliver Bedford, managers of the Hargreave Hale AIM VCT.

Flowgroup

Flow is developing a residential micro-CHP boiler, which generates electricity whilst heating your home. With Carillion (the second largest installer of boilers in the UK) engaged as the installation partner, a large US company contracted to manufacture up to 370,000 units in Scotland, a final pilot study in 100 homes underway and a successful £17 million fundraising, Flow is closing in on a launch later this year.

The innovative sales proposition, which will see homeowners receive a free boiler in return for entering into a multi-year competitively priced energy supply agreement with their utility business, could prove popular with cash strapped homeowners.

Fusionex

This profitable Malaysian business intelligence and data analytics company was one of the most successful floats of 2012, gaining 250% in its first 14 months on AIM. Big data, or the ability to enable companies to process it more effectively, is an emerging and potentially very lucrative theme within the tech arena that has garnered much interest.

Although it is still early days, the recent news that Fusionex has secured its first material big data contract win suggests they may be one of the first small companies to successfully monetise the opportunity.

MyCelx

MyCelx's innovative clean water technology removes minute oil particles from water. The company's technology is being adopted around the world by a range of national and multi-national companies in the oil and gas and petrochemicals industries to treat produced water (a by-product of oil production) or processed water (a by-product of petrochemical processing). Revenues have increased from $4 million in 2010 to $19 million in 2013.

Quixant

From a standing start in 2005, Quixant has quickly established itself as a specialised design and manufacturer of advanced hardware and software solutions for the pay-to-play and slot machine industry.

Their in-depth knowledge of complex legislation and a dedicated Taiwanese manufacturing facility enables manufacturers to bring new products to market more quickly, whilst benefitting from reduced hardware failure rates and less supply chain risk. Revenues have grown from $9 million in 2011 to $26 million in 2013 as larger games companies start to come on board.

Vertu

A very strong management team has built this company into the UK's sixth largest motor retailer in just seven years. Having established a core portfolio of well-managed dealerships, the company spent much of the recession selectively acquiring under-performing sites with recovery potential they could unlock through better management and access to greater resource.

More recently, the company has moved into the premium car market with the purchase of two top-performing Land Rover dealerships. The Balance Sheet can fund several more acquisitions, whilst a resurgent UK car market is starting to support higher levels of organic growth.

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