Most investors know UK small caps have lagged for years. What they often miss is how extreme that dislocation has become, and how much quality now hides in plain sight.

Join Simon Moon and Fraser Mackersie, managers of the Unicorn UK Smaller Companies Fund, as they explore the reality behind the numbers:

• Why valuation gaps versus larger peers are now at record levels.
• How owner managed, cash generative businesses are quietly compounding value away from the spotlight.
• What might finally trigger a rerating across the sector.

They will use Goodwin PLC, the Fund’s largest holding, to illustrate the point. A 140 year old engineering group based in Stoke on Trent, Goodwin exemplifies the kind of patient, self financed, globally relevant business that defines the portfolio. It has delivered exceptional results in the past year,¹ proving that quality and resilience still pay off for investors willing to look beyond the obvious.

Source: 1. Bloomberg, Goodwin PLC (GDWN:LN),  9 October 2025