The D’Anconia Fund
The Fund’s objective is to protect and grow capital by investing in a concentrated portfolio of companies throughout the world that are priced inefficiently relative to conservative estimates of growth and risk.
Strategy
The investment strategy is based on buying companies at a discount to their intrinsic value and selling companies at a premium to their intrinsic value. This approach is designed to provide a margin of safety for the fund’s capital. The Fund does not discriminate between traditional definitions of “value” and “growth” stocks, but rather invests in all industries, regions and market capitalizations based on fundamental analysis.
Research
Companies will be researched using a combination of independent analysis, sell-side research, and mosaic theory. Mosaic theory involves collecting public, non-public and non-material information about a company in order to determine the underlying value of the company’s securities.
Fees
The proposed fee structure is a 1.5% annual management fee and a 25% performance fee on any returns over a 6% performance benchmark.
