- Experienced, nimble management team;
- Excellent investment track record: 21.5% p.a. growth in adjusted net assets, including dividends paid since 2006 (12.8% p.a. since 2011).
- From Group Properties and from fund management fees;
- From mix of jurisdictions: UK, Poland and Romania = natural hedge.
- From letting vacant space in Gdynia and in CH8;
- From investing group cash (>£16m);
- From new fund management mandates (all fund management clients have had good experiences);
- Operationally geared – can take on new business without material increases in overheads.
- Strong balance sheet;
- Progressive dividend policy, aligned to the free cash generation of the Group, but subject to it being covered by earnings, targeting a ratio in excess of 2.5x.