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| Fund Overview | The Fund will invest in securities where Avenir believes the company is simply mis-priced and deeply undervalued and offers significant potential for revaluation. The Fund will also invest in companies that are subject to specific corporate events such as mergers, acquisitions, restructurings, recapitalisations, spin-offs, demergers, management change, distressed situations, and other sharply delineated corporate events. The Fund will also selectively invest in short positions in companies where Avenir believes the company is significantly overvalued or where the company's business model is broken or structurally challenged. |
| Manager Comments | Notable were the Sharpe ratio of 3.97 (Index 1.49) and the Up and Down Capture ratios of 0.75 and -1.63 respectively. The Fund's top ten holdings were 53% of NAV with top fifteen holdings 66%. In terms of geographical exposure the US was 33%, Western Europe 12% with cash at 20%. |
| More Information | » View detailed profile of this fund |
