Interview with Peter Kenyon, CEO, Ramsdens

by James Lynch, Fund Manager, Downing Strategic Micro-Cap Investment Trust

Ramsdens Holdings PLC (Ramsdens) is a financial services provider and retailer. The Company operates through four segments: Foreign Currency Exchange, Pawnbroking, Purchases of precious metals and Jewellery Retail. The Foreign Currency Exchange segment consists of primarily, the sale and purchase of foreign currency notes with prepaid travel cards and international bank to bank payments. The Pawnbroking segment is a form of asset backed lending where an item of value is given to the pawnbroker in exchange for a cash loan. Through its precious metals buying and selling service, Ramsdens offers to buy unwanted jewelry, gold and other precious metals from customers for cash. The Company is engaged in refurbishing items bought from customers and retailing them through its store network. The Company also provides ancillary services, including franchise fees, western union, sale and buy back of electronics, and credit broking. It has a portfolio of over 130 stores.

Introduction – 00:23
Peter Kenyon’s background – 00:53
Operating areas of the business – 02:45
Diversification – 04:12
Growth strategy – 05:25
Retail rents & footfall? – 06:45
Ramsdens locations? – 09:35
What’s the strategy to expand the estate? – 11:20
What are the growth opportunities? – 12:35
New stores’ journey to profitability – 16:18
Cash generation – 17:07
Dividends and capital allocation – 18:02
Summary of the investment case – 19:27
The longer term outlook – 20:04  

 

Videos from Downing LLP

James Ramsdens opener 2_00241
22:00

Interview with Peter Kenyon, CEO, Ramsdens

by James Lynch, Fund Manager, Downing Strategic Micro-Cap Investment Trust Ramsdens Holdings PLC (Ramsdens) is a financial services provider and retailer. The Company operates through four segments: Foreign Currency Exchange, Pawnbroking, Purchases of precious metals and Jewellery Retail. The Foreign Currency Exchange segment consists of primarily, the sale and purchase of foreign currency notes with […]
Duke Royalty’s CEO, Neil Johnson, interviewed by James Lynch, Fund Manager, Downing.
22:50

Duke Royalty’s CEO, Neil Johnson, interviewed by James Lynch, Fund Manager, Downing.

Downing bought a position in Duke Royalty (DUKE) in 2018. James elicits the key investment attractions of DUKE, and Neil gives a great overview of DUKE, royalty finance, the market place, risk management and much more, to answer all the questions investors may have. Duke Royalty Limited is a Guernsey-based diversified royalty investment company. The […]
Downing Monthly Income Fund Presentation at MELLO London November 2018
23:58

Downing Monthly Income Fund Presentation at MELLO London November 2018

Downing Monthly Income Fund presentation at Mello London 2018 By James Lynch, Fund Manager   Covering the key points of the fund, and how they do it Top quartile yield: the fund is committed to providing a market and sector beating yield. High conviction portfolio: 30 – 40 holdings allow best ideas to drive performance. Risk-adjusted portfolio […]
Duke Royalty: investment case by James Lynch , Downing Strategic Micro Cap IT
03:04

Duke Royalty: investment case by James Lynch, Downing Strategic Micro Cap IT

Downing Strategic Micro Cap IT (DSM IT) has taken a stake in Duke Royalty. Duke Royalty Limited (DUKE) is a Guernsey-based diversified royalty investment company. The Company specializes in diversified royalty financing and provides alternative capital solutions to a diversified range of businesses in Europe and abroad. The Company’s investment policy is to invest in, […]
Volex: investment case by Nick Hawthorn, Downing Strategic Micro Cap IT
02:13

Volex: investment case by Nick Hawthorn, Downing Strategic Micro Cap IT

Volex (VLX): investment case by Nick Hawthorn, Downing Strategic Micro-Cap Investment Trust Volex represents 10.5% of the Trust. It was introduced to the portfolio May 2018, through the opportunity of a £36m institutional placing. Here Investment Manager, Nick Hawthorn outlines the investment case.   Videos from Downing LLP
Downing Strategic Micro-Cap Investment Trust AGM, Meet the Managers event July 2018.
47:52

Downing Strategic Micro-Cap Investment Trust AGM, Meet the Managers event June 2018.

Presented by Judith Mackenzie, Head of Public Equity at Downing LLP, with Nick Hawthorn and James Lynch. Disclaimer – 00:06 Hugh Aldous, Chairman, opening remarks – 00:17 Judith MacKenzie, Lead Fund Manager, introduction – 00:32 Annual review – 03:18 The micro-cap market – 04:43 The team – 05:34 Portfolio review – 06:10 Real Good Food – […]
Judith MacKenzie meets Adept’s CEO Ian Fishwick July 2018
27:34

Judith MacKenzie meets Adept’s CEO Ian Fishwick July 2018

Judith Mackenzie, Partner & Head of Public Equity at Downing LLP visits AdEPT (ADT) at their head offices in Tunbridge Wells and interviews CEO Ian Fishwick. Judith Intro – 00:27 Interview with Ian Fishwick, CEO AdEPT – 01:21 How did AdEPT begin? – 01:32 Acquisition criteria – 02:54 Chronology of acquisitions – 04:34 Acquisition conversion […]
Tamzin talks to Judith MacKenzie, Downing LLP
18:18

Tamzin talks to Judith MacKenzie, Downing LLP

Tamzin talks to Judith MacKenzie, Partner & Head of Public Equity, Downing LLP Judith joined Downing in October 2009. Previously she was a partner at Acuity Capital managing AIM-quoted VCT and IHT investments and a small-cap activist fund. Prior to Acuity, Judith spent seven years as a senior investment manager with Aberdeen Asset Management Growth […]

 

piworld interviews

Gervais Williams investor interview
29:34

Gervais Williams investor interview

Senior Executive Director, Miton Group plc Gervais talks to piworld about his background, who influenced his investing style, the macro themes, liquidity, the outlook for the markets and how his funds are positioned. Introduction & Gervais’ background – 00:20 Who have been the main influencers in your career – 01:55 What was the attraction of […]
Navigating the markets with Stephen English – (part 2 of 2)
33:14

Navigating the markets with Stephen English – (part 2 of 2)

Stephen English BA(Hons), CFA Chartered FCSI Blankstone Sington: Investment Director – Head of AIM stocks Another fascinating 30 mins with Stephen, where he discusses the structure of AIM and liquidity. Interestingly, he suggest that the next financial event will be due to lack of liquidity. Pleasingly he’s an enthusiast of retail investors managing their own […]
Navigating the markets with Stephen English (part 1 of 2)
41:28

Navigating the markets with Stephen English (part 1 of 2)

Stephen English BA(Hons), CFA Chartered FCSI Blankstone Sington: Investment Director – Head of AIM stocks Stephen gives great insight on the macro economic environment investors face today, and where he sees the opportunities. He talks about some criteria for his stock selection, illustrated with examples. He discusses catalysts for selling. He speaks of the changes […]
Interview with Erik Townsend – Digital currency & the future of money
43:03

Interview with Erik Townsend – Digital currency & the future of money

Digital currency adoption by Government, Central Banks and much more Tamzin Freeman is joined by Erik Townsend, the originator of  macrovoices.com, and the author of Beyond Blockchain – the death of the dollar and the rise of digital currencies.  Erik discusses how initially he ignored digital currency, and latterly realised its scope could change the […]
The Journey of the investor from beginner to pro with Graham Neary
36:40

The journey of the investor from beginner to pro with Graham Neary

The journey of the investor, from beginner to pro – interview with Graham Neary by Tamzin Freeman, piworld. Graham discusses the investing options for individuals who want to manage their future financial security. He starts with an IFA, covers the use of passive funds, and then moves into the more sophisticated skills of self-investing. Graham […]
The Analyst with Gareth Evens, Progressive Equity Research
35:44

The Analyst with Gareth Evans, Progressive Equity Research

Gareth Evans, Founder Progressive Equity Research interviewed by Tamzin Freeman, piworld Gareth describes the role of the analyst, clarifying where the analyst sits within the bank/broker’s services, and where they sit commercially. He gives great insight to the delicate balance of client relationships, reputation and integrity. Finally, he covers off the effects of MiFID II. […]
The Financial PR with Reg Hoare, Managing Director, MHP Communications
35:36

The Financial PR with Reg Hoare, Managing Director, MHP Communications

piworld’s Tamzin Freeman interviews Reg Hoare about the role of the Financial PR. Reg’s background: Reg joined MHP in 2010 and has over 30 years City experience, initially gained with 11 years in investment banking and securities, principally at SG Warburg and Nomura. He switched to financial PR in 1995, and specialises in advising mid […]
John Rosier: reflections on 2018 Interview by Tamzin Freeman
27:21

John Rosier: reflections on 2018 Interview by Tamzin Freeman

John Rosier: reflections on 2018 John Rosier, a full time private investor with over 30 years’ investment experience and a regular contributor to the Investors Chronicle magazine. John runs a website, which is a journal of two live portfolios. It reports on the progress, explains the rational behind each investment decision and comments on latest […]
Tamzin talks Tech with Gareth Evans from Progressive Equity Research
36:24

Tamzin talks Tech with Gareth Evans from Progressive Equity Research

Tamzin talks Tech with Gareth Evans from Progressive Equity Research Gareth has over 15 years research experience covering pan-European Chemicals & Technology sectors. He founded Progressive Equity Research in 2012.  Formerly, Gareth held research positions at ABN AMRO, Canaccord & Investec, where he was Joint Head of Research and was awarded techMARK Analyst of the […]
Tamzin talks to Judith MacKenzie, Downing LLP
18:18

Tamzin talks to Judith MacKenzie, Downing LLP

Tamzin talks to Judith MacKenzie, Partner & Head of Public Equity, Downing LLP Judith joined Downing in October 2009. Previously she was a partner at Acuity Capital managing AIM-quoted VCT and IHT investments and a small-cap activist fund. Prior to Acuity, Judith spent seven years as a senior investment manager with Aberdeen Asset Management Growth […]
WheelieDealer & social media interview with Tamzin Freeman
23:02

WheelieDealer & social media interview with Tamzin Freeman

Tamzin Freeman interviews private investor & blogger WheelieDealer about his take on using social media. How long ago did you start with social media? – 00:51 What prompted you to start your website? – 02:20 How long does it take you to write a blog? – 04:05 Do you have to do a lot of […]
Behavioural Investing: Interview with Clare Flynn Levy, Essentia Analytics
37:08

Behavioural Investing: Interview with Clare Flynn Levy, Essentia Analytics

Clare Flynn Levy founder of Essentia Analytics gives us insight into the behavioural aspects of investing. Clare covers the issues of selling your losers, over confidence and over trading. She emphasises outperformance all comes down to you. Citing the best fund managers are skilled but humble. Interviewed by piworld’s Tamzin Freeman. Clare’s background and how […]
Leon Boros – Understanding accounts interview with Tamzin Freeman
24:17

Leon Boros – Understanding accounts interviewed by Tamzin Freeman

Leon Boros gives a fascinating insight of what he’s looking for in a set of company accounts, using examples to highlight some of the hidden factors to look for. For non-accountants it can be quite a heavy watch, particularly at the midpoint, but there are many gems, and it’s worth making it till the end […]
Leon Boros on achieving exceptional investment returns interviewed by Tamzin Freeman
39:25

Leon Boros on achieving exceptional investment returns interviewed by Tamzin Freeman

Leon Boros on achieving exceptional investment returns. Interview with Tamzin Freeman, piworld. Leon Boros’s background – 00:25 Leon’s investment returns – 00:52 2008 & 2001 – 02:55 Cash levels – 05:12 Trader or investor – 05:56 Leon’s criteria for share selection – 08:22 Weighting of the portfolio – 09:55 Qualitative selection criteria – 11:23 Shares […]

You might be interested in