Rotork (ROR) and Victrex (VCT)
"Rotork has been hit because 60 per cent of business is oil and gas-related, it makes actuators which turn the valves on refineries. And it's an absolutely great business, it's got proprietary tech but is going through a little down spurt in its order book because of what's happening with the oil and gas business but I just know it's going to come out the other side just as strong and think that buying the shares at £1.50 or £1.60 as I have been [this year] on a two to three-year view I couldn't go wrong.
"Victrex is similar. It is a great business and fully invested capital-wise. The shares absolutely tanked recently and I was picking those up between £13.60-£14. They were back at £15.60 within a matter of weeks.
"I know the oil price will come back at some point, I just don't know when. And meanwhile oil refineries will be wearing out and will need maintenance and when they do they will be knocking at Rotork's door. If it takes a year, great if it takes two to three years, that's fine. I know on a five to 10-year view it can't stay this low."
Last IC view for Victrex: Buy, 1,860p, 9 December 2015
Last IC view for Rotork: Sell, 182p, 1 March 2016
Domino's Pizza (DOM)
"This is the market leader in the UK for take-out pizza. Consistent high quality, fast delivering and harnessing of ordering technology. It has a franchise model and is light on physical capital with attractive margins, high return on equity and strong cash flow. It has consistent dividend growth with periodic share buy-backs."
Last IC view: Hold, 1,049p, 4 March 2016
Bioventix (BVXP)
The fund took a holding in December 2014. "Normally I screen stocks and look at things which fall through my filters but Bioventix didn't really have the track record on market as had only recently come on Aim. So it totally immune to any of my screen tests but I met them at an exhibition and was really taken with them and thought I sounded really interesting.
"They make antibodies from sheep and those are used when you go for a blood test are tested for Vitamin D deficiencies or similar things. The antibodies bond to an antigen in your body they can then read and the company takes a 1-2 per cent royalty on every test. It takes between four to five years to get products approved on both sides of the pond so the regulatory process is a barrier to other companies. In terms of efficacy, because the antibodies come from sheep and most rival products comes from mice, they think we get better results."
Last IC view for Bioventix: na
Hargreaves Lansdown (HL.)
"Every time the market goes down, Hargreaves goes down twice as much. I'd done a lot of work on it ahead of investing [in 2014] - I had been watching it for two years but could never get it at a price which made sense. I got in at just over £9 per share and that was half of what the peak had been. I love that businesses, it's one of the most scalable businesses out there in the market."
Last IC view: Buy, 1,261p, 3 February 2016
