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Portfolio

Somers' investments are predominantly Bermuda, UK and Australia based with these three jurisdictions together accounting for 96.3% of total investments. In total, the Company's significant holdings account for 94.0% of total investments at March 31, 2019.

  Company  Country  Fair Value ($)  % of Total Investments 
1 Resimac Group Limited (formerly Homeloans Limited) Australia 132,780,653 33.1%
2 Bermuda Commercial Bank Limited Bermuda 84,005,807 20.9%
3 Waverton Investment Management Limited UK 71,084,376 17.7%
4 PCF Group plc UK 56,620,659 14.1%
5 West Hamilton Holdings Limited Bermuda 15,896,256 4.0%
6 MJH Group Holdings Limited Jersey 10,390,098 2.6%
7 Stockdale Securities Limited UK 6,752,114 1.7%
8 AK Jensen Group Bermuda 6,668,775 1.7%
Significant investments   384,198,738 95.6%
Other Investments   17,477,815 4.4%
Total Investments   401,676,552 100.0%

Fair value figures are based on fair values as at March 31, 2019.

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Resimac Group Limited (formerly Homeloans Limited) ('Resimac') is a leading non-bank lending and multi-channel distribution business in Australia and New Zealand, with Assets under Management in excess of A$12.8 billion (as at December 31, 2018). Resimac's shares are listed on the Australian Securities Exchange.

In October 2016, Homeloans merged with RESIMAC Limited to create a significant independent mortgage provider and mortgage securitisation business.
Bermuda Commercial Bank Limited ("BCB") was formed by an Act of Parliament in February 1969 when it operated under the management of Barclays Bank plc.

While BCB is one of the four licensed banks in Bermuda, it is the only one dedicated solely to the needs of commercial, corporate and high net worth clients. BCB offers a full array of banking solutions, including private banking and wealth management, business banking, corporate administration, global custody and brokerage, trust administration.
Somers, in conjunction with Waverton Investment Management Limited’s ("Waverton") management and staff, acquired Waverton from Credit Suisse AG in August 2013.

Waverton is a London-based specialist investment manager which focuses on discretionary portfolio management for private clients, charities and institutions as well as offering a suite of in-house managed investment funds. Waverton has Assets under Management of approximately £5.7 billion (as at March 31, 2019). Waverton is also the investment manager to nine Dublin-domiciled specialist funds.
PCF Bank offers a range of savings products for retail customers and finance products for individuals and businesses. Established in 1994, PCF Group plc is the AIM-quoted parent of PCF Bank. PCF Bank offers retail savings products for individuals and will then deploy those funds through its two lending divisions:

• Consumer Finance which provides finance for motor vehicles to consumers; and

• Business Finance which provides finance for vehicles, plant and equipment to SMEs.
West Hamilton Holdings Limited ("West Hamilton") is a Bermuda listed property holding and management company whose assets include a commercial property, the Belvedere Building, a 309-space car parking facility, and a mixed use apartment building.
MJ Hudson is a UK based specialist law firm and asset management services provider. MJ Hudson was founded in 2010 as a law firm, and it is now a multi-services and infrastructure business, a one-stop outsourcer for asset managers and investors encompassing legal, operating and regulatory, fiduciary, administration and reporting, and investor relations services.
AKJ is a hybrid business which provides brokerage and software solutions to its clients as well as providing hedge fund services.

AK Jensen provides a hedge fund platform to hedge fund managers enabling them to set up a hedge fund at low cost, trade through AK Jensen’s proprietary technology platform, and operate under the AK Jensen regulatory framework.