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VALUE FUND

 

WHAT IS THE VALUE FUND?

The Fund is a Portfolio Investment Entity (PIE) that seeks to provide investors with long-term capital growth and income by directly investing in equities on a global basis, while at the same time adhering to a “Margin of Safety” investment philosophy. The strategy of the Value Fund is to primarily invest in shares of entities trading at a discount in relation to their Net Asset Value/Intrinsic Value*, with low debt levels**, and which have a history of paying dividends and/or returning capital to shareholders. 

*Net Asset Value / Intrinsic Value – is also referred to as “Private Market Value”. Collectively we define them as the value an informed buyer would pay to purchase assets with similar characteristics. We measure Net Asset Value / Intrinsic Value or Private Market Value by scrutinising on and off balance sheet assets, liabilities and free cash flow. We also examine valuations and transactions in the public domain to formulate our view of possible future value.

**Low Debt Levels – can be assessed relative to tangible and/or intangible assets, free cash flow, the industry in which an entity operates, or versus peers within an industry.

WHY CONSIDER THE VALUE FUND?

 

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GLOBAL
Elevation Capital invests in companies around the world.

PROPRIETARY RESEARCH
We conduct our own thorough and independent research.

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CONTRARIAN
It is impossible to produce superior performance unless you do something different. The investments in our Fund are often against prevailing sentiments.

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MARGIN OF SAFETY
Buying shares in companies for less than their intrinsic value reduces risk.

 

VALUE INVESTING
Has proven over time to be the most consistent investment methodology to provide positive long-term investment returns.

COMMON INTEREST
We are in this together – everyone that works at Elevation Capital is invested in our Fund/s.

BENCHMARK AGNOSTIC
Our portfolio in no way resembles an index. We are focused on absolute returns not relative returns. You can’t spend relative returns.

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CASH BALANCE
The fund operates with a net cash balance. Cash provides optionality, ballast against volatility and reduces the risks of permanent loss.

 
 

NO PERFORMANCE FEE
There is no Performance Fee
of any kind

TRANSPARENT
We have made everything from the underlying investments to the fee structures as transparent as possible.

 

WHAT ARE SOME OF THE BUSINESSES THE VALUE FUND OWNS A STAKE IN?

 

COTY INC.

LUXOTTICA SPA

EDGEWELL PERSONAL CARE COMPANY

DISCOVERY COMMUNICATIONS INC.

 

COACH INC.

SKYLINE ENTERPRISES LTD

 

PENTAL LTD

DE LA RUE PLC

 
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VALUE FUND REPORTS, DOCUMENTS & PERFORMANCE HISTORY

 

 
 

VALUE FUND INVESTMENT REALISATIONS BY YEAR

View all investments sold in any given year and the investment return associated with it.
Historical investment presentations can also be viewed here.

 
 
 

VALUE FUND AWARDS & NOMINATIONS

 

industry RECOGNITION FOR OUR Results

Elevation Capital's "sharp stockpicking talents really came to the fore in 2016. Founder and Portfolio Manager Christopher Swasbrook's approach of judiciously selecting companies that have built ‘brand moats' around their businesses and trade at discounts to intrinsic value enabled the firm to deliver a banner year, all the more impressive given the relatively high cash hoard." "Also noteworthy are the firm's commitment to transparency and to future fee reductions as assets grow. These characteristics all make Elevation Capital a worthy option for Kiwis looking to diversify their investments overseas." - Christopher Douglas, Morningstar's Head of Research

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MORNINGSTAR RESEARCH ON THE VALUE FUND

 
 
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HOW DO I INVEST IN THE VALUE FUND?