However, fellow investment trust Salvus has been languishing with a low profile and poor performance relative to Kingfish.
Its latest report though presents a hugely positive outlook and manager Andrew Couch.
He paints a positive picture of its core holdings and says “the outlook for the portfolio has never looked better.” He says there is “considerable upside” in Salvus’s two largest holdings, the unlisted Tru-Test and listed tap maker Methven.
“If the full value of Tru-Test is realised then it could be transforming for Salvus shareholders.
“Methven is making the transition from a value proposition to a growth company. If it continues to successfully execute in Australia then the shares should continue to perform strongly.
“This is a likely scenario as Methven has an unusually favourable combination of an innovative product portfolio and a management team that we regard as second to none.”
Also recent changes in the share registers of Provenco and Abano Healthcare point to the potential for corporate activity, Couch says, which may expose the full value of these investments.
He estimates the intrinsic value of Abano is 28% above the current share price.
While Pod is showing the first signs of turning around after a difficult trading period.
“In a full turnaround scenario, our valuation models point to a considerable increase in share price despite the recent strong run.”
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