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Downing Public Equity

Downing Public Equity was established in 2010 by award-winning* fund manager, Judith MacKenzie. Judith joined Downing with the aim of creating a boutique listed asset management business, drawing on Downing’s 25-year private equity track record.

We offer clients access to investment strategies that typically focus on in-depth proprietary research and disciplined processes to drive long-term capital growth.

We currently operate in three distinct sectors – UK micro-cap, UK equity income, and global multi-manager. Each Fund’s strategy draws from a shared investment philosophy based on the following principles:

  • Value led investing: Buying businesses at what we believe are attractive valuations to improve returns and reduce downside risk.
  • Bottom up research: A comprehensive understanding of each company is critical to the investment philosophy. We invest in businesses and funds we understand.
  • Focused portfolios: Allows our best ideas to drive performance.
  • Robust repeatable processes: Ensures a consistent approach.

Each Fund is supervised by an Investment Committee to provide additional risk oversight. Our investors’ interests are paramount to every decision that we make.



*Named Small Cap Fund Manager of the Year, Small Cap Awards 2015 and Small Cap Awards 2013 for the Downing UK Micro-Cap Growth Fund

Important Notice

Investing in our products will place your capital at risk and you may not get back the full amount invested. Any tax treatment may be subject to change and the availability and value of the reliefs depend on the individual circumstances of each investor. The availability of tax reliefs also depends on the investee companies maintaining their qualifying status.

Further information can be found at HMRC’s website. Neither past performance or forecasts are reliable indicators of future results and should not be relied upon. Unquoted or smaller company shares are likely to have higher price fluctuations and are likely to be more difficult to sell than shares quoted on the London Stock Exchange Official List. Website content is not intended to constitute investment, tax or legal advice. We recommend you seek independent advice before investing in any of our products.

Important Notice

Downing’s investments place your capital at risk and you may not get back the full amount invested. Past performance and forecasts are not a reliable guide to future results. Tax treatment may be subject to change and depends on individual circumstances. Smaller company shares are likely to have higher volatility and liquidity risks than other types of main market listed instruments. We recommend that you seek professional independent financial advice before investing. We do not offer investment or tax advice.

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