Most investment trusts tend towards the steady but reliable end of the spectrum. Crystal Amber is a little different, being as close as the London market gets to an activist trust of the sort more common in the United States, with the likes of Pershing Square and Elliott Advisors.
The fund, which was founded in 2008 by Richard Bernstein, specialises in taking strong positions in smaller or medium-sized companies where he feels that action is needed or where the shares look undervalued.
Mr Bernstein describes his approach as contrarian, supportive and patient. He does not go in for aggressive tactics — only once has Crystal Amber called an extraordinary meeting — of Leaf Clean Energy — and the request was withdrawn after the chairman and