John Baron covers Augmentum in his latest ‘Investment Trust of the Moment’ update.
“AUGM is looking to raise funds for further investment by way of an open offer of four shares (priced at £1.355) for every 19 held (basic entitlement) – shareholders can request additional shares, but there is no guarantee such demand will be met. Having recently spoken with Tim Levene, the lead manager, we remain positive about prospects for the company and so both the Summer and Thematic portfolios will be fully subscribing for their basic entitlement. The portfolio pages will be updated once the additional shares have been allotted in the coming weeks, as will the Dealing page to help members monitor positions.
By way of background, AUGM invests in fast growing fintech businesses that are disrupting the banking, insurance, asset management and wider financial services sectors. It is the UK’s only publically listed company focussing on the sector. The company believes it is addressing a market worth over $4 trillion and one where the penetration by the sort of digital disruptors in which it invests remains small. Many of the core financial systems remain essentially the same as they did a decade ago, and yet the advance of technology suggests the scale of change will be significant in the years to come. The company’s excellent stewardship is a further positive.”
Read the full article here (behind paywall)