North Atlantic Smaller Companies (NAS)

NAS invests in smaller companies across the UK and US, including both public and unquoted businesses either directly or via other investment companies. The company has been managed by its chief executive officer Christopher Mills since 1982, over which time it’s achieved an annualised share price return of over 14%. In this interview, Christopher discusses the company’s hands on investment strategy which often sees it take board seats; why many London-listed companies are choosing to leave the stock market, and the subsequent importance of exposure to private assets; the importance of managers having ‘skin in the game’; and which sectors currently offer the best opportunities … and which should be avoided.