The objective of the fund is to provide its investors with long-term capital growth by investing in shares of companies listed on regulated stock markets worldwide. The Fund Manager is convinced that to generate superior results it is necessary to take substantial active bets against the benchmark. Approaching the market with a global perspective allows him to gain an unique perspective on the most promising regions and industries without being constrained by artificial boundaries. The process aims to uncover companies with superior risk/reward potential, normally due to early to mid-stage turnarounds or thanks to the existence of an underappreciated profitable niche. The Fund is mainly constructed through a bottom-up process. Intrinsic valuation remains the most important metric, but underestimated growth is also actively sought. Technical analysis is used in conjunction with the fundamental approach. When a stock has gone through the initial fundamental and technical screens, qualitative analysis is performed. This aims to rapidly eliminate stocks with low potential and to focus on companies with a strong competitive advantage, good management and good cash generation. The ideal situation is an unloved or forgotten stock operating in an unglamorous but profitable niche and that trades substantially below its intrinsic value. The portfolio holds between 50 and 100 stocks. There is no regional, sector or size bias in the process, but all these aspects are taken into account during portfolio construction to avoid building excessive single-factor risk. AUM reflects the aggregate of the EUR various share classes.