Please view our introductory video above.
Elevation Capital Management Limited was established in October 2006 and since inception has focused on a disciplined approach to value investing. This means as investment managers we focus primarily on undervalued assets, balance sheet strength, and dividends.
Our search for investments is global. We are not constrained by market capitalisation, geographic location or industry sectors. We view ourselves as custodians of our investors savings and our funds are designed to adhere to our founding philosophy of "Independent Thinking and Disciplined Investing".
In today's rapidly changing investment world where investment management firms abound, selecting the right firms to manage your savings is one of the most difficult decisions you will have to make. Selecting firms with strong governance, transparency, a clear alignment with your interests and above everything else intelligent investment decisions for its clients is of utmost importance.
Elevation Capital Management Limited is a New Zealand based investment manager founded on the key tenet of “Independent Thinking – Disciplined Investing”.
Our investment philosophy is best described as adhering to a "Margin of Safety" approach to investing. This means we seek to buy investments that are sufficiently cheap so that there is a margin of safety which minimises the risk of incurring permanent capital loss. Therefore, it is unlikely you will ever see us investing in the "fashionable" areas of the market.
We subscribe completely to Mark Twain's view of investment: “There are two times in a man's life when he should not speculate: the first time is when he cannot afford to; the second time is when he can.”
The concept of "Margin of Safety" was first brought to investors by Benjamin Graham and David L. Dodd in the 1934 book “Security Analysis” the core principles of which hold true today. In determining our "Margin of Safety", Elevation Capital typically focuses on the company's balance sheet. This coupled with research into peer companies, corporate mergers, acquisitions and liquidations allows us to assess the "Margin of Safety" on offer. A review of Elevation Capital's portfolios will detail investments which exhibit one or all of the following characteristics: low stock price in relation to book value / net asset value (corporate net worth), low debt to total assets, a consistent history of paying dividends or returning capital to shareholders, a small free float of shares and / or a recent takeover offer / other catalytic announcement.
To some managers / investors such metrics may seem boring and somewhat simple but given the future is always uncertain and that our ability (or anyone else's for that matter) to accurately forecast the future is limited at best we feel that this is one of the most prudent ways to manage both your and our capital.
We would also like to emphasise that governance within the Investment Manager is a critical ingredient for investors today and Elevation Capital is fortunate to have Craig Stobo and Andrew Harmos as directors. Furthermore, each of these directors have invested in one or more of the Funds we manage to ensure a strong and on-going alignment of interest with our investors.
We have also sought to make our remuneration as Investment Managers transparent and clearly disclosed for all investors.
We hope we have provided a small insight into Elevation Capital and the levels of transparency we maintain with our investors. Please continue to look through our website -- it has been designed to provide an open and honest view of the firm's philosophies, people, portfolios and communications.
Should you wish to obtain further information on our products please request information via the Contact Us page of this site.
Elevation Capital Management Limited
The following list is a source of parties that provide independent fund data - including data on the Elevation Capital Funds:
Elevation Capital Management Limited
FSP Number: 9601
Disclosure Statement – Version 4
Date: 1 April 2013
TThe disclosures made in this document are required under the Securities Markets Act 1988 (Act) and the Securities Markets (Investment Advisers and Brokers) Regulations 2007. The disclosures are made on behalf of Elevation Capital Management Limited ("Elevation Capital") and the executives named below who act for it on a day- to-day basis.
Background to Elevation Capital Management Limited: Elevation Capital is a boutique fund manager established in October 2006 by Christopher Swasbrook (Managing Director), Craig Stobo (Chairman) and Andrew Harmos (Director). Elevation Capital currently manages the Elevation Capital Value Fund and the Elevation Capital Global Value Fund of Funds (Elevation Capital Funds).
Staff: Elevation Capital has two full-time executives Christopher Swasbrook (Managing Director & Portfolio Manager) and John Tsai (Analyst) responsible for day-to-day operations. Both Christopher and John receive remuneration by way of salary from Elevation Capital for their duties.
All Staff and Directors each individually invest into the Elevation Capital Funds on the same terms as other investors.
Securities: Elevation Capitals’s Managing Director & Portfolio Manager (Christopher Swasbrook, Analyst (John Tsai) and Chairman (Craig Stobo) are all available to discuss the structure and features of the Elevation Capital Funds with investors and potential investors. They may also provide views and general comment in connection with global market developments and trends (including by way of quarterly reports or other research documents). Elevation Capital, its executives and its directors do not provide investment advice in connection with any securities including in relation to the Elevation Capital Funds.
Income: Elevation Capital receives a management fee from the Elevation Capital Value Fund and the Elevation Capital Global Value Fund of Funds. It does not receive any sales commission or brokerage in connection with the issue or sale of units in the Elevation Capital Funds. These fees are clearly disclosed in the relevant Investment Statement and Prospectus which are available on request or by visiting: www.elevationcapital.co.nz.
Procedures for dealing with investment money: Elevation Capital does not receive investment proceeds directly from investors. Such investment proceeds must be paid to the relevant Elevation Capital Applications Account. These bank accounts are held in the name of the trustee – The New Zealand Guardian Trust Company Limited (NZGT). Elevation Capital does not have signing authority to make external payments from these accounts.
Directors & Officers insurance: Elevation Capital has NZ$1mln of Directors and Officers Liability insurance with DUAL New Zealand Limited.
Dispute resolution: Should any dispute arise, investors should contact the Chairman of Elevation Capital – Craig Stobo to arrange a resolution. Elevation Capital is also a member of the Insurance & Savings Omsbudsman (ISO) dispute resolution scheme. ISO can be contacted by telephone: 0800 888 202, or in writing: PO Box 10845, Wellington 6143.
Legal disclosures: Elevation Capital, its executives and its directors have not been: convicted of any offence against the Act or the Securities Act 1978 or of a crime involving dishonesty; a director or principal officer of a body corporate when that body corporate committed any offences or crimes involving dishonesty; adjudicated bankrupt; prohibited by an Act or by a court from taking part in the management of a company or business; subject to an adverse finding by a court in any proceeding that has been taken against them in their professional capacity; expelled from or prohibited from being a member of a professional body; or placed in statutory management or receivership.
Elevation Capital Management Limited is a Registered Financial Service Provider in New Zealand in accordance with the Financial Service Providers (Registration and Disputes Resolution) Act 2008 -- FSP # 9601.
Elevation Capital Management Limited does not provide personalised investment advisory services to the public. Nothing herein should be construed as a general advertisement of investment advisory services or a solicitation of prospective clients for investment advisory services. The information herein is intended solely to provide certain background information about Elevation Capital Management Limited and the Funds it currently manages.
Any performance data quoted on this website represents past performance and does not guarantee future performance or results. Market volatility can potentially dramatically impact the Elevation Capital Value Fund and Elevation Capital Global Value Fund of Funds (the ‘Funds’) short term performance. Current performance may be lower or higher than figures shown. The investment return and principal value of an investment will fluctuate so that an investor’s units, when redeemed, may be worth more or less than their original cost. There can be no assurance that the Funds will achieve any targets or that there will be any return on or of capital.
The commentaries contained within the website represent the views of Elevation Capital Management Limited (as the Manager of the Funds) at the time of writing, and these may change at any time based on market and other conditions. Any opinions and views expressed are not intended to be forecasts of future events, a guarantee of future results or investment advice. Any statistics contained within this website have been obtained from sources believed to be reliable, but the accuracy of this information cannot be guaranteed.
The information contained within this website has been prepared solely for informational purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell units in the Funds, a recommendation to buy or sell any security or to participate in any trading strategy. Any decision to invest in the Funds should be made only after reviewing the definitive Investment Statement and Prospectus, conducting such investigations as the investor deems necessary and consulting the investor’s own investment, legal and tax advisors in order to make an independent determination of the suitability and consequences of an investment in the Funds.
To the extent permitted by law, Elevation Capital Management Limited, its directors, employees and agents disclaims all responsibility or liability for any loss or damage which may be suffered by any person relying on any information or any opinions, conclusions or recommendations contained on this website whether that loss or damage is caused by any fault or negligence of Elevation Capital Management Limited or otherwise.
Any external web sites linked to or from this website are not under the control of Elevation Capital Management Limited. Elevation Capital Management Limited is not responsible for and makes no representations, warranties or conditions concerning the contents of any linked website or any link contained in a linked website.
The inclusion of any link on this website is provided as a convenience only and does not imply endorsement, investigation or verification by Elevation Capital Management Limited of the linked site.
If you are from another jurisdiction (outside of New Zealand) nothing on this website should be considered a solicitation to invest in any of the Elevation Capital Funds. This website is provided solely for informational purposes.
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