The fund seeks capital appreciation in the long term by investing in mid-size companies in the United States.
The investment process focuses on companies that are trading at a discount to their intrinsic value.
The research team employs quantitative techniques to look for companies with attractive operating margins, strong balance sheets, and stock ownership by management. Next, the team analyzes a company’s financial statements and management structure.
The team favors companies with low stock price relative to earnings, cash flow, sales, net assets, book value, or private market value.
The fund has the flexibility to buy companies that do not meet its normal investment criteria if it believes that a management change, an extraordinary corporate event, a new product introduction or innovation, or a favorable competitive development could add value to the company.