Evermore Global Value Fund

The Evermore Global Value Fund (the “Fund”) invests in complex, misunderstood and under-researched public companies where there appear to be real disconnects between price and intrinsic value, and importantly, where catalysts exist to close these gaps.

The Fund has the flexibility to invest in any asset class, geography or market capitalization.

From January 2010 through March 2023, the Fund was managed by Evermore Global Advisors, LLC, a registered investment adviser founded by David Marcus and Eric LeGoff (“Evermore”). Mr. Marcus and Mr. LeGoff both worked many years for renowned value investor Michael F. Price at Heine Securities Corp., the investment adviser to the Mutual Series family of mutual funds. Mr. Marcus has been the Lead Portfolio Manager of the Fund since its inception in 2010 and Thomas O has been Co-Portfolio Manager of the Fund since August 2022.

Mr. Price sadly passed away in March 2022. Several months later, Mr. Price’s family reached out to Mr. Marcus and asked him to assume the position of CEO of a newly formed Price Family Office, LLC, while continuing to serve in his role as Portfolio Manager to Evermore’s managed accounts, including the Fund. In his role as CEO of the Price Family Office, Mr. Marcus also has oversight responsibility of MFP Investors LLC, the late Michael Price’s registered investment adviser that as of December 31, 2022 managed a limited partnership Fund with over $950 million in assets.

A business transaction in the first quarter of 2023 resulted in F/m Investments, LLC d/b/a North Slope Capital LLC becoming investment adviser to the Fund and MFP Investors, LLC becoming sub-adviser to the Fund. F/m Investments, LLC is a registered investment adviser that as of December 31, 2022 had over $1.4 billion in assets under management. Mr. Marcus and Mr. O are currently employees of MFP Investors LLC and continue in their respective roles as Lead Portfolio Manager and Co-Portfolio Manager of the Fund.