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Neptune UK Mid Cap

Elite Rated by FundCalibre

This is a high-conviction fund managed on a collegiate basis, with the 30-strong team of managers and analysts all contributing global macroeconomic and sector overviews. The manager is responsible for portfolio construction, but many of the stock ideas come from other members of the investment team.

Company Description

Founded in 2002, boutique investment manager Neptune concentrates on long-only fund management. Employees and directors own approximately three-quarters of the company, ensuring that staff and client interests are aligned. Neptune undertakes all of its own fundamental research.


Fund Manager

Manager Mark Martin joined Neptune in February 2008 as a senior analyst and is now fund manager of the Neptune UK Mid Cap fund. He is also responsible for global research on the healthcare sector. In 2002, he graduated from Oxford University in Classics and went on to qualify as a solicitor at Allen & Overy in their Private Equity group.


Focusing on economic recovery plays, structural growth stories and corporate turnarounds in some of the most exciting sectors of the UK market.

Mark Martin - Fund Manager

The Investment Process

Drawing on Neptune’s global research output, this fund adopts a balanced construction, with at least 20% of the portfolio invested in three different ‘silos’. These silos are; recovery plays, structural growth stories and turnarounds. Therefore, at least 60% of the fund will be invested across these silos at any one time.


Investing in mid-cap (FTSE 250) stocks does come with additional risk/volatility and Mark can also consider any of the top 50 FTSE Small Cap index constituents. He does, however, measure valuations against both peers in industry as well as against historical levels, which helps to eliminate overpaying for stocks.

Our Opinion

Another genuinely active fund from the Neptune stable run successfully by Mark Martin, head of UK equities, since 2008. The three-factor approach (recovery plays, structural growth stories and turnaround) has served him particularly well.

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