Daxia is a Fund whose sole purpose is to acquire stakes in illiquid under performing companies, at a price today above which we hope to sell in the future - value investing
The Fund's sole purpose is to acquire stakes in predominantly underperforming (S)EIS companies in exchange for Shares in itself. This cashless transaction provides the Investor with exposure to a diversified portfolio thereby increasing the chances of liquidity events. Provided the Investor's Target Shares are eligible, the proposed sale of those Target Shares to the Fund constitutes a share disposal for CGT purposes and any loss arising should be available for loss relief under s131 ITA 2007. Furthermore, s684 ITA 2007 should not apply given that there would be no income tax advantage being sought or obtained as a result of entering into the proposed transactions.
Stephen Hazell-Smith
Director
Stephen is a UK institutional fund manager by background, including the founder and managing director of Rutherford Asset Management Limited where he created a number of highly successful smaller company investment vehicles, including Herald Investment Trust and Beacon Investment Trust. In 1997 he sold Rutherford Asset Management Limited to Close Brothers Group and joined Close Investment Limited as managing director, where he was responsible for launching Close Brothers AIM VCT. He is a director of Octopus AIM VCT plc (successor to Close Brothers AIM VCT plc). He is a former chairman of Conduit PR Limited, PLUS Markets Group plc and Businessagent.com
Edward Vye Taylor
Director
Edward has worked in the field of Communications in the Business Luxury sector for over 20 years including as Director of Quintessentially Communications. Past work include the design and implementation of the 'Johnnie Walker Blue Label Club' digital members club for whisky aficionados and for Samsung Electronics the virtual club for HNW clients - the 'Samsung BlueHouse Club'. His current roles include Director of Communications for Brickowner, a Prop Tech Investment Platform and as Marketing and Sales Consultant to the Battersea Power Station Development Company. Edward is a keen runner globally through which he has raised over six figures for charities including Tusk Trust and the Starlight Children's Charity
Marcus Beresford
Director
Marcus has worked across the private equity and hedge fund sector for 7 years including Direct Capital, Australasia longest standing Private equity fund. Past work included raising and deploying Direct Capital funds V and VI accumulating over NZD800 million raised from institutional and sophisticated investors His current roles are on the origination team for TSE listed Constellation Software and on the fundraising team for Kernow Asset Management, a long short uk equities fund running a contrarian strategy.
Contact
marcus@daxia.co.uk
