RE: Klean Athlete's Ingenuity Success and Nestle10 Aug 2024 20:23
Catching up on a few posts, general reply.
There is often criticism of the board for being out of touch with shareholders, but that could apply equally to some shareholders imo which in many cases hold just one position, or at least only post on one company.
Sofina, Balderton and others have extensive portfolios, they will know first hand of profit warnings coming on other holdings and know how tough it is, Edward Koopman is also part of THG board.
'Edward is a member of the Executive Committee of Sofina S.A. and a director of Sofina Capital. He also sits on the board of Nuxe Group, a French-based international skincare brand. Edward was a Founding Partner at Electra Partners/ Cognetas Private Equity (now known as Motion Equity Partners LLP) and was also previously a Manager at Bain & Company, having worked in investment banking at both Baring Brothers and BNP Paribas.'
THG do not operate in a vacuum or have a special set of customers hidden away from the general population.
Since last positing on iShares they have reduced their exposure to 'consumer discretionary' by nearly 0.5%, that includes some THG shares, replicate this across the multitude of US trackers and the drop is easily explained - this is not a reflection of the board or THG performance imo, just how their economic models are set up.
The large $100b iShares fund (posted before) has around 3,300 companies invested managed by 23 fund managers, that ratios is 143 companies per manager.
THG are still investing while others are cutting back, worth a reminder from 12 months ago.
https://www.linkedin.com/posts/andywoodbiz_thg-thehutgroup-autostore-activity-7032419039008202753-gRrA/
Many will not survive but those that do will be a whole lot stronger and better for it imo.
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