Quarterly Investment Report

Castelnau Group Limited, an investment company established to invest in public and private companies with the aim of outperforming the FTSE All Share Total Return Index over the long term, has published its first Quarterly Investment Report since listing on the London Stock Exchange in October 2021.

The Report is available here: https://www.castelnaugroup.com/investor-relations/reports-factsheets

Castelnau Group’s portfolio comprises investments in Dignity Plc, Hornby Plc, Stanley Gibbons Group plc and Cambium Group, a wedding gift list service, as well as in two ‘enabling’ businesses, Rawnet and Ocula Technologies.

Gary Channon, CEO and CIO of Phoenix, commented:

“Our principal objective that drives everything we do is to generate high, risk-adjusted, long term returns on capital and to compound those over time. We own four principal businesses where we see the potential for greatness, but which need the application of our tools and techniques and the assistance of our enabling companies.

“We are making progress with all our businesses. Our businesses in weddings (The Cambium Group) and funerals (Dignity plc) deal with life events whereas the other two deal with hobbies and play (Hornby and Stanley Gibbons). Technology is changing the way that their customers inform themselves and make their choices. We believe all of them can create value by embracing and fully utilising technology and digital communication. We are very engaged; seven of the investment team have operational roles within our companies. We are in the process of adding to our resourcing in Castelnau to give us capabilities that we will deploy in group companies.

“In Castelnau, we are bringing a new innovative organisational structure to a portfolio of diversified companies of great potential.  This structure and the culture that we seek to instil in the group, we think, can be extremely rewarding for all involved – customers, employees and shareholders.”


Phoenix Asset Management Limited

+44 (0) 208 600 0100

Gary Channon
Steve Tatters
Lorraine Smyth

Liberum Capital Limited

+44 (0) 20 3100 2000

Darren Vickers
Owen Matthews
Will King

Citigate Dewe Rogerson

+44 (0) 20 7638 9571

Caroline Merrell

Toby Moore

Jos Bieneman