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Flying Kestrel Opps re-closes after fundraising

Flying Kestrel Opps re-closes after fundraising

The Kestrel Opportunities fund has once again closed itself to new money after exceeding a fundraising target.

Kestrel had been closed since last March, but last month sought to raise an additional £25 million ‘to capitalise on some of the potential investment we are currently seeing’.

The fund succeeded in attracting £26.9 million and has now again ceased processing new subscriptions.

Overseen by the Kestrel team of Ari Zaphiriou-Zarifi, Max Royde and Oliver Scott, the Opportunities fund has returned more than 250% since its launch in November 2009. The FTSE SmallCap excluding investment trusts index has returned 92% through the same period.

The Kestrel Opportunities portfolio is relatively concentrated, with 39% held in just five tech-focused small-caps: Redcentric, KBC Advanced Technologies, Idox, Eckoh, and K3 Business Technologies.

Following the fundraising, Kestrel estimated that the portfolio’s cash weighting would rise to 24%, up from 17% at the end of March when the fund contained £112.5 million.

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