Matterhorn

Palmyra Fund

Fund Investment Objectives

The Fund aims to capture the potential for significant growth in the value of companies operating in the emerging markets, investing across multiple sectors and market caps. The Fund executes a fundamental, bottom-up stock picking investment strategy with a strong emphasis on downside protection. The Fund invests in a concentrated portfolio of high conviction investments in non-consensus, or 'uncrowded', stocks that are strategically attractive, highly cash generative and have strong alpha potential but where the investment story has not been widely recognised by the market. The Fund aims to remain nimble by maintaining a strong focus on liquidity (20 trading days) in order to be able to move into and out of positions as the investment rationale changes. The Fund operates an active risk overlay to hedge the portfolio, being willing to sacrifice some of the upside potential to protect client capital on the downside. AUM is not disclosed.