TITLE

TRADER TALK

PUB. DATE
May 2013
SOURCE
Evening Standard;5/20/2013, p47
SOURCE TYPE
Newspaper
DOC. TYPE
Article
ABSTRACT
SMALL-cap hedge-fund manager David Newton, head of the Helium Special Situation fund, has taken profits on debt-management business Fairpoint after a year in which its shares have soared 65%. Newton quit his previous position of 1.26 million shares or 3% worth £1.4 million at a share price of 111p. The Helium Special Situations fund tends to invest in small and microcaps whose value it feels the market has misunderstood. Fairpoint, which offers packaged debt management products to struggling borrowers, posted first-half pre-tax profit of £2.1 million last year as opposed to a £2.1 million loss the year before. The company has diversified from its core markets into areas such as lending. A number of leading managers, such as Giles Hargreave of Hargreaves Hale and Paul Marriage of Cazenove, have been buying heavily into the shares recently.
ACCESSION #
87653796

 

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