The contrarian fund seeks to invest in small cap companies based in the U.S. and Canada.

Using the book value and cash flow measures, the investment process screens the list of 8,000 names to less than 300 for additional fundamental due diligence. The fund concentrates on its best ideas and most undervalued industry as estimated by its research team.

Investment process is designed to located companies that are out of favor with investors and trading at a deep discount to estimated value by the analyst team.

With less than 50 investments in the portfolio, the top 10 holdings may account for as much as 50% of total assets.