Report September 2021

During September the Pareturn GVC Gaesco Columbus European MidCap Equity Fund class I fell by - 0.98%, beating the -3.41% return of the STOXX 600 index. Over the past six months the Fund has risen by +13.49%, and by +34.34%% over the past 12…

Zardoya-Otis Takeover – Effect on Columbus fund

On Thursday 23rd September Otis Worldwide announced its intention to acquire the outstanding shares of its Spanish subsidiary, Zardoya Otis at a 31% premium to the prior close.…

National Express/Stagecoach Merger – Effect on Columbus fund

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National Express, the international transport company, announced on Tuesday 21st September, that they are in merger discussions, in all-share deal, with UK public transport…

Global Dominion Access – Holding Update

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Price €4.50 Market Cap €730m PE FY2022 14x EV €664m EV:Sales 0.54x DY 0.5% EBITDA Margin 9.2%   Conclusion Having initially purchased our position in DOM at the IPO in 2016 for a price…

Report August 2021

During August the Pareturn Columbus European MidCap Equity Fund rose by 3.23%, surpassing the 1.99% return of the STOXX 600 index. Over the past six months the Fund has risen by 18.7%, and by 33.2% over the past 12 months. Since inception in…

ZOOPLUS agrees €3bn private equity takeover – Effect on Columbus fund

On Friday last week (13th August) our position in Zooplus, the German online pet supplies retailer, soared by 40% to €390 per share on news that management had agreed a €3bn all-cash takeover bid by US Private Equity group Hellman &…

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