Quantcast Investment team | Downing Strategic Micro

Investment team

Why we’re different
We draw on Downing’s 30 years of experience and offer an investment style more akin to private equity than to typical public market investing. This is apparent through our extensive due-diligence process. This includes visiting potential investee companies, engaging with both operational and board management and ensuring management teams interests are aligned with those of our investors.

The Trust aims to take influential positions in a focused portfolio of 12 – 18 UK micro-cap companies. This allows us to devote more time to understanding the underlying investments and their markets, and to build strong relationships with management teams. Our value-led investment style favours a proactive approach which we believe can help smaller companies realise their potential.


Judith MacKenzie - Partner

Judith joined Downing in October 2009. Previously she was a partner at Acuity Capital, a buy-out from Electra Private Equity, where she managed small company assets with an activist strategy. Prior to this, Judith spent seven years with Aberdeen Asset Management Growth Capital as Co-Fund Manager of five Aberdeen VCTs, where she focused on technology and media investments in both the public and private arenas. Judith has held a number of public and private directorships. She founded Downing Public Equity and is 3-Crown rated by FE Trustnet*.

* FE 3-Crown rated as at 30/09/2017

James Lynch - Fund Manager

James joined Downing in February 2012 as part of the Private Equity team, gaining transaction experience in the SME space across a range of industries before transferring to Downing Public Equity in 2013. Prior to Downing, James worked within the asset management division of Ernst & Young after specialising in smaller companies at HW Fisher & Company. James is a CFA Charterholder, Chartered Accountant (ACA) and holds the Investment Management Certificate. James manages the MI Downing Monthly Income Fund.

Nick Hawthorn - Fund Manager

Nick joined Downing in September 2015 from BP Investment Management, where he worked in the private equity team. Prior to this, he worked for Aberdeen Asset Management in group finance. Nick is a CFA level III candidate and holds a MSc. in Finance and Investment from Durham University and a MA in Accounting and Economics from the University of Aberdeen. He also holds the Investment Management Certificate.

Cheryl Vickers - Investment Operations Manager

Cheryl joined Downing in 2010 from Rathbones where she gained over 12 years’ experience working on VCT, EIS and IHT portfolio services. Cheryl provides portfolio support and oversight to the Downing Public Equity funds. Cheryl is a graduate of Keele University and is a Chartered FCSI.