Fund Group reason for buying20 Mar 2019 14:14
Hi All. I was at a presentation by Cornelian Asset Managers yesterday and they are pretty keen on this company and they have a holding of about 0.6% across all of their 5 risk rated funds. While acknowledging the company isn't making money at present, they cited the following reasons for the purchase:
- Global leader in robotoc process automation
- Revenue growth 125% in 2018
- 95% recurring revenue
- 100% customer renewal rate; upsale momentum
- 100 million equity raise
The have added this position since November, so obviously bought into the dip, but they implied it could be a long hold for them.