Onward Opportunities Ltd on Monday reported its figures for the five month period from January 31 to June 30.

The UK smaller companies-focused investment firm said pretax profit was £80,000, helped by net investment gains of £252,000. Fees and expenses were £172,000.

The company started trading on London’s AIM market on March 30.

Chair Andrew Henton said: ‘Blessed with hindsight, it is hard to envision a less propitious timing for the launch of a specialist fund targeting smaller listed UK companies than the first quarter of 2023. A core thesis underlying the launch of the company is that the London stock market presents value investors with a rich seam of opportunity, and the ability to buy companies whose earnings streams are materially undervalued by reference both to their larger quoted market comparators, and to unlisted companies backed by private equity.’

Onward Opportunities Ltd shares were 1.0% higher at 105.00 pence each on Monday morning in London.

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