Rockwood Strat. Company Research (RKW)

Rockwood Strategic (RKW) is managed by Richard Staveley at Harwood Capital. He has a differentiated approach, aiming to generate a 15% annual internal rate of return (IRR) over a rolling five-year period from a concentrated portfolio of UK small-cap stocks. The manager employs a value-based strategy seeking companies with a sub-£250m market cap that are trading at a significant discount to their estimated intrinsic value. The lower end of the UK market is inefficient, which could provide a valuable source of mispriced investment opportunities. Staveley’s approach has proved successful as RKW has meaningfully outpaced the performance of the UK market and its small-cap peers over the long term.