CapitalatWork

The objective of the fund is to look for opportunities in under-researched, under-appreciated, misunderstood and therefore undervalued companies on a worldwide basis. We look for and own value stocks in the Americas, in Europe and in Asia. Value stocks are stocks with a low valuation, which depends more on the present and the tangible and less on the distant future and the possible.

The fund is managed in a bottom up style, independent of benchmark considerations and aiming at superior absolute return. CapitalatWork takes a “value approach” identifying stocks that are trading substantially below their intrinsic value, based on a proprietary valuation model which is focused on the free cash flow (FCF) generation.
The fund is invested in companies whose strong and sustainable FCF prospects are not properly reflected in their stock price. The manager’s focus leans toward companies with a sustainable superior business and a strong management track record that guarantees cash flow visibility.

Positions are built gradually, with largest convictions running from 3% to 6%. Diversification is ensured through holding about 50 stocks from a minimum of 7 sectors. Sales of call options on fully valued portfolio holdings may be implemented on a limited basis, to profit from high volatility periods.

This Fund is managed by : Ivan Nyssen

Morningstar rating:

+

For the latest fund information, please click below:

Fact Sheets:

Contrarian Equities at Work

Standard & Poors report:
Contrarian Equities at Work August 2010
Contrarian Equities at Work July 2009