Kensington Investments PLC

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Strategy

Kensington Investments looks to provide an increasing store of wealth and an annual income for shareholders. We measure performance against the FTSE All-Share capital and total return indices over five and ten year periods.

Why we’re unique

Kensington Investments is an investment trust and holding company listed on the London Stock Exchange that’s family-controlled and performance-powered.

We benefit from the daily involvement of family members but have also created a working environment that enables us to attract and retain the very best professionals in the market.

About us

Kensington Investments plc is a private equity investment trust listed on the London Stock Exchange. We does not make new investments; our focus is on realising value.

Our portfolio currently comprises investments in 11 privately owned European businesses, acquired by investing alongside funds managed by our Partners, an independent private equity firm. They are the investment manager of the Kensington 2001, 2005 and 2008 Funds.

Our sole objective is to optimise the long term value of that portfolio for our shareholders. This will be achieved via a progressive return of cash over time as the portfolio businesses are sold.

History

Kensington Investment Limited was founded in 1987 by Matheson Kensington as a joint venture with his son William Kensington Smythe, the current CEO. The company was formed out of the relationships and experience Matheson had gained as part of the London-based operations of Kensington, Alban & West Partnership (K,A&W) that had been co founded by Matheson in 1972. K,A&W was an agency stockbroker and corporate finance boutique specialising in the U.K. investment trust sector. As part of the brokerage research effort, the firm identified significant pricing inefficiencies particularly in those funds giving emerging markets exposure.

Matheson determined the most appropriate way to capitalise on these inefficiencies was to from an investment management standpoint and launched Kensington Investments Limited in 1987.
In 1992, building on the success of the U.K. business, the firm launched a U.S. institutional emerging markets strategy for tax-exempt investors. As a result of this success Kensington Investments became a Public Limited Company in April 1993. The firm registered with the SEC as an investment advisor in April of 1994. A Canadian marketing presence was also established that year. Over the following six years, a number of institutional funds for North American clients were launched as emerging markets benchmarks were developed in the industry.

In July 1997, Matheson announced his retirement and his son, William, took over as CEO. He took the company from strength to strength and expanded into new markets, both in the U.K. and abroad, to improve the company portfolio.

Kensington Investments PLC operates from four centres, London, Philadelphia (established 1995), Singapore (established 2000) and Dubai (established 2007), managing assets primarily for institutional investors.

In 2002 and 2003 the investment team started to delve deeper into the stages of country development from “developing” to “developed”, especially China and India, and the implications thereof, namely, the rise in the consumption of natural resources. Investments were funneled to this emerging market and several lucrative purchases were made.

In 2004, using our in-house equities team, we launched the Natural Resources strategy in order to capitalise on the growing demand for natural resources via a stock selection process.

In 2005, we extended our emerging markets expertise into the frontier markets by launching the Frontier Emerging Markets strategy.

In 2009, we applied our unrivalled knowledge of closed-end funds around the world to the development of a Global Closed-End Fund strategy, using the same investment process as in our Emerging Markets Closed-End Fund strategy.

In 2011, our equity team launched the Emerging Market Equity strategy which aims to achieve long term capital growth from investing in small capitalisation companies which derive the majority of their profits from the emerging economies. The strategy provides diversified global emerging markets exposure, although sector and country allocation will be actively managed and stock selection will reflect a strong thematic overlay.


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Kensington Investments PLC

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