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River and Mercantile UK Micro Cap Investment Company Limited is a closed-ended equity mutual fund launched by Carne Global AIFM Solutions. The fund is managed by River and Mercantile Asset Management LLP. It invests in the public equity markets of the United Kingdom. The fund seeks to invest in stocks of companies operating across diversified sectors. It primarily invests in stocks of micro cap companies having market capitalizations of less than £100 million. The fund employs fundamental analysis, focusing on financial analysis, business analysis, and management interrogation to create its portfolio. It benchmarks the performance of its portfolio against the Numis Smaller Companies plus AIM (excluding investment companies) Index. River and Mercantile UK Micro Cap Investment Company Limited was formed on October 2, 2014 and is domiciled in the Channel Islands.
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River and Mercantile UK Micro Cap Investment Company Ltd is a London‑listed closed‑end investment trust investing in UK micro‑capitalisation equities, managed by River and Mercantile Asset Management. Long-term growth drivers include potential for above‑average earnings and market inefficiencies in the micro‑cap segment, while active stock selection and the closed‑end structure may support access to undervalued companies and long‑term capital appreciation.
Main risks are high volatility and limited liquidity of micro‑cap holdings, concentrated portfolio and manager execution risk, discount volatility and the potential for gearing to amplify losses.
Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.
| Breakdown | 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-12-31 | 2022-09-30 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-12-31 | 2022-09-30 |
| Income before tax | 15.34M | 8.93M | 2.21M | -53.45M | -53.45M |
| Net income | 15.34M | 8.93M | 2.21M | -53.45M | -53.45M |
| Selling general administrative | 0.75M | 0.65M | 0.63M | 0.59M | 0.59M |
| Selling and marketing expenses | 0.01M | 0.01M | - | - | - |
| Gross profit | 16.10M | -4.05M | 2.83M | -52.86M | -52.86M |
| Ebitda | 15.34M | 8.94M | 2.21M | -53.45M | -53.45M |
| Operating income | 15.34M | 8.94M | 2.21M | -53.45M | -53.45M |
| Other operating expenses | 6.27M | 12.34M | 0.63M | 0.59M | 0.59M |
| Tax provision | 0.00M | 0.00M | 0.00M | - | 0.00M |
| Interest income | 0.06M | 0.04M | 0.04M | - | 0.01M |
| Net interest income | 0.06M | 0.04M | 0.04M | - | 0.01M |
| Total revenue | 9.07M | -3.41M | 2.83M | -52.86M | -52.86M |
| Total operating expenses | 0.76M | 0.66M | 0.63M | 0.59M | 0.59M |
| Cost of revenue | 0.73M | 0.64M | - | - | - |
| Total other income expense net | - | -0.01M | - | - | - |
| Net income from continuing ops | 15.34M | 8.93M | 2.21M | - | -53.45M |
| Breakdown | 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-12-31 | 2022-09-30 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-12-31 | 2022-09-30 |
| Total assets | 84.20M | 69.19M | 60.30M | 58.41M | 58.41M |
| Other current assets | 0.01M | -0.74M | - | - | - |
| Total liab | 0.23M | 0.21M | 0.05M | 0.57M | 0.57M |
| Total stockholder equity | 83.97M | 68.98M | 60.05M | 57.84M | 57.84M |
| Other current liab | - | - | -0.05M | -0.43M | -0.43M |
| Capital stock | 0.00M | 0.00M | 0.00M | - | 0.00M |
| Retained earnings | 83.97M | 68.98M | 60.05M | 57.84M | 57.84M |
| Other assets | - | 69.19M | 0.01M | 0.01M | 0.01M |
| Cash | 6.00M | 1.77M | 0.42M | 2.29M | 2.29M |
| Total current liabilities | 0.01M | - | 0.05M | 0.43M | 0.43M |
| Net debt | -6.00M | -1.77M | -0.42M | -2.29M | -2.29M |
| Total current assets | 6.43M | 1.77M | 0.67M | 2.37M | 2.37M |
| Long term investments | 77.77M | 66.67M | 59.63M | - | 56.03M |
| Net receivables | 0.42M | 0.74M | 0.25M | 0.09M | 0.09M |
| Accounts payable | 0.01M | 0.00M | 0.05M | 0.43M | 0.43M |
| Non currrent assets other | 77.77M | 0.75M | -59.63M | -56.03M | -56.03M |
| Non current assets total | 77.77M | 67.42M | 59.63M | 56.03M | 56.03M |
| Breakdown | 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-12-31 | 2022-09-30 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-12-31 | 2022-09-30 |
| Total cashflows from investing activities | 5.29M | - | - | - | - |
| Total cash from financing activities | -0.34M | - | - | - | - |
| Net income | 15.34M | 8.93M | 2.21M | -53.45M | -53.45M |
| Change in cash | 4.23M | 1.35M | -1.87M | -7.87M | -7.87M |
| Begin period cash flow | 1.77M | 0.42M | 2.29M | 10.16M | 10.16M |
| End period cash flow | 6.00M | 1.77M | 0.42M | 2.29M | 2.29M |
| Total cash from operating activities | -0.72M | 1.35M | -1.87M | -7.87M | -7.87M |
| Other cashflows from investing activities | - | -1.70M | - | - | - |
| Change to account receivables | -0.06M | 0.19M | - | - | - |
| Sale purchase of stock | -0.34M | 0.00M | - | - | 0.00M |
| Capital expenditures | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Change in working capital | -0.05M | 0.20M | -0.10M | -0.95M | -0.95M |
| Other non cash items | -16.01M | -7.78M | -3.98M | 46.53M | 46.53M |
| Free cash flow | -0.72M | 1.35M | -1.87M | -7.87M | -7.87M |
Sector: Financial Services Industry: Asset Management
|
Stock Name
|
Change
(GBX) |
Price
(GBX) |
Trailing
PE (x) |
Forward
PE (x) |
Price Sales
TTM (x) |
Price to Book Value (x)
|
Enterprise Value
to Revenue (x) |
|---|---|---|---|---|---|---|---|
| RMMC River and Mercantile UK Micro Cap Investment Company Ltd |
3.00 1.17% |
260.00 | 4.80 | - | 4.40 | 0.82 | 4.30 |
| MNTN Schiehallion Fund Ltd |
-0.01 0.46% |
2.18 | 0.05 | - | 4.35 | 1.25 | 5.65 |
| BHMU BH Macro Limited |
- -% |
4.29 | 0.09 | - | 39.01 | 0.71 | 6.47 |
| TFG Tetragon Financial Group Ltd |
0.15 1.00% |
15.10 | 0.02 | 7.04 | 1.16 | 0.31 | 2.06 |
| BPCR BioPharma Credit PLC |
0.00 0.41% |
0.98 | 0.09 | - | 6.73 | 0.91 | 7.95 |
River and Mercantile UK Micro Cap Investment Company Limited is a closed-ended equity mutual fund launched by Carne Global AIFM Solutions. The fund is managed by River and Mercantile Asset Management LLP. It invests in the public equity markets of the United Kingdom. The fund seeks to invest in stocks of companies operating across diversified sectors. It primarily invests in stocks of micro cap companies having market capitalizations of less than £100 million. The fund employs fundamental analysis, focusing on financial analysis, business analysis, and management interrogation to create its portfolio. It benchmarks the performance of its portfolio against the Numis Smaller Companies plus AIM (excluding investment companies) Index. River and Mercantile UK Micro Cap Investment Company Limited was formed on October 2, 2014 and is domiciled in the Channel Islands.
30 Coleman Street, London, United Kingdom, EC2R 5AL
44 203 327 5100
| Name | Title | Year Born |
|---|---|---|
| Mr. George Ensor | Portfolio Mang. | NA |
| Mr. George Ensor | Portfolio Manager | NA |
Disclaimer - (*)This information, including any data, is sourced from Unicorn Data Services SAS, trading as EOD Historical Data (“EODHD”) on an ‘as is’ basis, using their API. We cannot guarantee the completeness or validity of the information and data provided on this page, as well as via the API. In some cases, the data may include analyst ratings or recommendations sourced through the EODHD API, which are intended solely for general information purposes.
This information does not consider your personal objectives, financial situation, or needs. Kalkine is not liable for any errors or omissions in the information provided or for any actions taken in reliance on it. You should seek advice from a financial adviser, stockbroker or other professional adviser (including taxation and legal advice) as necessary before acting on this information.
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