Wealthy Silver Spenders Drive Investment Opportunities

Here’s a breakdown of the investment opportunities​ highlighted‍ in the text, according to ‌Kernow’s fund manager, Wood:

* Saga plc: Wood has a major position in Saga,⁤ a‍ travel ⁢and insurance⁢ brand focused on the over-50s. He believes it’s “materially ⁤undervalued” and its share price could surge over 400% in ​the next​ few years. His thesis‌ is based on the increasing spending power of⁣ the⁤ over-50s (“Saga years”) who will account for 60% of all U.K. consumer spending by 2030. Saga currently makes up about ⁢10% of Kernow’s portfolio.
* Pets At Home: Wood identifies Pets At ⁢Home as another potential beneficiary of the trend. He believes the ‍company is facing near-term ​pressures but will ultimately benefit ⁣as ‍older consumers spend ‌more on their pets and less on their children.

The article also mentions that private⁤ equity owners Permira and Warburg Pincus are looking to exit investments, suggesting ⁣potential opportunities in those companies as well, though they aren’t specifically ‍identified as Kernow holdings.