Here's a rundown of what was recently added to my fantasy fund, and why.

Laura Ashley (LON:ALY) - 20.5p/£149m
With a yield of 7.3%, PER of 10.8, net cash of £38m (25% of mkt cap), z-score of 3.4 and P/FCF of 4.9 and 5% EPS growth in 2012, Laura Ashley (LON:ALY) is extremely underpriced.

Clearstream Technologies (LON:CTN) - 56.9p/£28.6m
Rapid growth company with immense upside potential. PER of 20, but about 10 on 2012F. Recent placing at about 48p, with directors buying in at the placing. Newsflow extremely positive.

Games Workshop (LON:GAW) - 437.5p/£136m
With a yield of 5.7%, z-score of 8.1, net cash of £11m (8% of mkt cap) and a P/FCF of 7.5, this looks extremely underpriced. There has been recent director purchases (about £55k combined from 3 directors) and positive newsflow. PER os 13.51, which doesn't make it appear to be a super-bargain. I have based my decision of P/FCF.

Howden Joinery (LON:HWDN) - 112p/£709m
PER of 9.4, and only a yield of 2.2%, z-score of 4.0. Perhaps not my best choice, but there was director buying at £160k, which is very positive. Shares were bought because they were available at a reasonable price, were financially strong, with a bet being made on management buys.

Intermediate Capital (LON:ICP) - 317p/£1.3bn
PER 10.2, YLD 5.5%, PBV 1.1, P/FCF 4.7. Director buying nearly £1m at the end of last month is hugely positive. Latest IMS is bullish.

Idox (LON:IDOX) - 19.7p/£67m
PER 10, YLD 2.7%. Double-digit growth expected 13.1. Directors purchased shares in March, and the company has made share buybacks since then, too. Recent AGM statement was bullish: "Overall revenues for the year to date and resultant profitability are significantly ahead of last year". Growth at reasonable price, with directors confident at buying.

Mears (LON:MER) - 242p/£206m
PER 8.8, yield 3.1%. z-score of 3.2, with net debt of only £13.7m compared with net profit of £14.8m. 9% growth expected next year. Management report record order book. EPS growth…

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