Somers' investments are predominantly Bermuda, UK and Australia based with these three jurisdictions together accounting for 97.0% of total investments. In total, the Company's significant holdings account for 96.5% of total investments at September 30, 2017.
|Company||Country||Fair Value ($)||% of Total Investments|
|1||Homeloans Limited (previously RESIMAC Limited)||Australia||107,532,882||29.9%|
|2||Bermuda Commercial Bank Limited||Bermuda||102,216,040||28.4%|
|3||Waverton Investment Management Limited||UK||84,826,447||23.6%|
|4||West Hamilton Holdings Limited||Bermuda||26,353,315||7.3%|
|5||PCF Group plc||UK||8,852,671||2.5%|
|6||Stockdale Securities Limited||UK||7,633,592||2.1%|
|7||MJH Group Holdings Limited||Jersey||6,909,268||1.9%|
|8||Merrion Capital Group Limited||Ireland||3,113,694||0.9%|
Fair value figures are based on fair values as at September 30, 2017.
To find out more details about our portfolio investments, please click on the company below:
Bermuda Commercial Bank Limited ("BCB") was formed by an Act of Parliament in February 1969 when it operated under the management of Barclays Bank plc.
While BCB is one of the four licensed banks in Bermuda, it is the only one dedicated solely to the needs of commercial, corporate and high net worth clients. BCB offers a full array of banking solutions, including private banking and wealth management, business banking, corporate administration, global custody and brokerage, trust administration.
Homeloans Limited ('Homeloans') is a leading non-bank lending and multi-channel distribution business in Australia and New Zealand, with Assets under Management in excess of A$10 billion. Homeloans' shares are listed on the ASX.
In October 2016, Homeloans merged with RESIMAC Limited to create a significant independent mortgage provider and mortgage securitization business.
Somers, in conjunction with Waverton Investment Management Limited’s ("Waverton") management and staff, acquired Waverton from Credit Suisse AG in August 2013.
Waverton is a London-based specialist investment manager which focuses on discretionary portfolio management for private clients, charities and institutions as well as offering a suite of in-house managed investment funds. Waverton has Assets under Management in excess of £6.5 billion. Waverton is also the investment manager to nine Dublin-domiciled specialist funds.
PCF Bank offers a range of savings products for retail customers and finance products for individuals and businesses. Established in 1994, PCF Group plc is the AIM-quoted parent of PCF Bank. PCF Bank offers retail savings products for individuals and will then deploy those funds through its two lending divisions:
• Consumer Finance which provides finance for motor vehicles to consumers; and
• Business Finance which provides finance for vehicles, plant and equipment to SMEs.
West Hamilton Holdings Limited ("West Hamilton") is a Bermuda listed property holding and management company whose assets include a commercial property, the Belvedere Building, a 309-space car parking facility and a recently completed mixed use apartment building.
Stockdale Securities Limited ("Stockdale"), formerly Westhouse Securities Limited, was formed in 2004 with the demerger of Brown Shipley’s corporate finance and broking business into a new company part owned by Kredietbank SA Luxembourgeoise and part by management. It acquired Arbuthnot Securities in 2012 and was subsequently renamed Stockdale in 2016.
Stockdale is a corporate and institutional stockbroking group with a focus on sectors such as growth companies and investment funds. Its targeted market is the small and mid-market capitalised companies listed in London and it generates its revenue through equity research, sales, trading and corporate finance and broking revenues.
MJ Hudson is a UK based specialist law firm and asset management services provider. MJ Hudson was founded in 2010 as a law firm, and it is now a multi-services and infrastructure business, a one-stop outsourcer for asset managers and investors encompassing legal, operating and regulatory, fiduciary, administration and reporting, and investor relations services.
Merrion Capital Group Limited ("Merrion") was established in 1999 as an independent financial services firm providing stockbroking, corporate finance advisory and fund management services to a mainly domestic Irish client base.
Merrion has a number of revenue streams including Private Clients, Retail Asset Management, Fixed Income, Corporate Finance and Merrion Investment Management ("MIM").