The Evermore Global Value Fund seeks to achieve long-term capital appreciation by primarily investing in the equity securities of businesses undergoing some form of strategic change (“special situations”) where there are substantial disconnects between market price and business value, and, where catalysts exist that may narrow these discounts for the benefit of Fund shareholders. A focus on capital preservation is at the core of our strategy.
|Investable Universe||Common and preferred stocks, warrants, rights, debt securities, convertible securities, indexed securities, and derivatives.|
|Market Cap Exposure||Full market cap spectrum, bias toward small and mid|
|Number of Positions||Typically 30-40|
|Position Sizing||Target positions between 2-7% of AUM|
|Industry Exposure||Will not exceed 25% of AUM|
|Other Exposures||Less liquid securities <=15% of AUM
Distressed debt securities <=15%
Merger arbitrage securities <=15%
Shorts (non-merger arbitrage) <=10%
|Holding Period||Typically 3-5 years|
Cash may be increased to hedge risk or market exposure
|Minimum Initial Investment||$5,000
($2,000 for IRAs)
|Minimum Subsequent Investment||$100
($100 for IRAs)
Fees & Expenses
|Distribution and Service (12b-1) Fee||0.25%||none|
|Gross Expense Ratio||1.55%||1.29%|
It is not possible to invest directly in an index.
Related Fund Commentary
Global Value Fund Commentary | Q1 2023
As the first quarter of 2023 ended, so did the first chapter in the life of the Evermore Global Value Fund. As noted in prior announcements and our recent proxy, we will discuss the several significant events for the firm and our clients as well as updates on our portfolio.