Foundry Value Master Fund April update
NOTE: we are increasing the number of managers from four to six a year. It is same exact price but more value for our readers. The next fund we will profile has an especially unique value strategy which we have not seen anywhere- stay tuned for the next issue in the coming weeks.
The following is from Foundry Value Master Fund''s latest letters to investors. The hedge fund was profiled in our first issue. Below is his . If you would like to talk to the portfolio manager about any positions feel free to contact below.
Troy Marchand
317-402-1563
[email protected]PDF can be found - HERE
Investment Objective The goal of the Foundry Value Master Fund, LTD. (“FVMF” or the “Fund”) is to generate portfolio alpha over market cycles, while minimizing market risk. We focus on companies trading at a deep discount to intrinsic value with a catalyst on the horizon, where we believe we truly have a “margin of safety”. We invest where valuations are irrational and catalysts misunderstood to achieve superior performance over time. The Fund will only hold our “best ideas”, resulting from deep, fundamental analysis and engagement with a wide network of industry contacts. While we intend to hold positions for a 1-3 year time horizon, we occasionally will invest to exploit shorter term opportunities. In certain situations, the Fund will utilize public activism strategies in to unlock value for all shareholders.
Investment Strategy
The Fund employs a deep value strategy while applying private deal analysis with public market liquidity. The Fund seeks to invest in a concentrated portfolio of companies with:
- secular tailwinds
- competitive advantages
- operating leverage
- low financial leverage
- management teams and boards that are “principals” not “agents”
Why Foundry Value Fund
Our smaller fund size enables a nimble investment strategy to extract value in areas larger funds and institutions do not find investable. We believe the public market offers significant inefficiencies in specific areas:
- Micro- and small-cap companies
- Companies in Liquidation
- Companies that should not be public
- Companies operating sub-optimally
- Companies ripe for activist strategies
- Companies that are under the radar and/or underappreciated
Fund Terms
Minimum Initial Investment: $100,000 Management Fee: 2% Performance Fee: 20% (subject to a high watermark) Liquidity: 3 year lock up IRR Target: 20% gross / 15% net
