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| Fund Overview | The investment team looks for industrial businesses that are simple to understand; they generally avoid large caps, pure mining, biotech and start-ups. They also look for: - Access to management; - Businesses with a competitive edge; - Profitable companies with good margins, organic growth prospects, strong market position and a track record of healthy dividend growth; - Sectors with structural advantage and barriers to entry; - 15% p.a. pre-tax compound return on each holding; and - A history of stable and predictable cash flows that DS Capital can understand and value. |
| Manager Comments | The Fund's capacity to protect investor capital in falling markets is highlighted by the following statistics (since inception): Sortino ratio of 1.15 versus the Index's 0.39, down-capture ratio of 45.22%, and an average negative monthly return of -2.06% versus the Index's -3.12%. DS Capital expect the current downturn to present many opportunities to the patient investor with a long-term view. They believe the evolution of the crisis will feature a total reset of earnings expectations and operating conditions along with many capital raisings. They noted every bear market lays the seeds for the next bull market and they are excited by the number of opportunities being worked on by the investment team. |
| More Information |
