Walker Crips funds set for gains as Hamworthy receives bid approach

A pair of Walker Crips funds run by Steve Bailey and Jan Luthman are set for a boost as major holding Hamworthy received a bid approach this morning.

The liquefied natural gas company was up 20% following a bid from Wartsila, a Finnish shipbuilding business. Bailey said: "We would not be surprised if the bid was contested. Hamworthy is a market leader with a niche business and we think another company might try to scupper the deal, leading to the share price moving higher." The fund is 1% of the £159m UK Growth fund and 5.68% of the CF UK fund, a vehicle the managers took over 18 months ago and are set to rebrand. It is a highly concentrated portfolio of 27 stocks with a strategy similar to that of UK Growth but with a small to ...