The investment strategy for Samphire Global follows time tested value principles. The main aim is to buy securities at prices significantly below fair value or short securities at prices significantly exceeding fair value preferably with an expected catalyst to help the realization of fair value in the future. Markets tend to be volatile. Samphire's investment philosophy dictates that a critical factor of success is viewing the vagaries of the markets and its price fluctuations in a calm and rational manner. The analysis will view potential investments as taking stakes in companies. Investments differentiate themselves from speculation by throwing off cash to owners (perhaps gold being the only exception as a historical store of value). This, for example, explains why Samphire closely looks at free cash flow (FCF) generation in equity investments. The Fund's investment universe will primarily be Developed Market mid and large-cap companies. We intend to invest primarily in equities but retain the flexibility to invest in other parts of the capital structure if compelling opportunities arise. The Investment Manager is likely to take more positions in sectors it understands rather than in sectors such as insurance, banks, high-tech and pharmaceuticals which require different experience Special situations (e.g. index-buying, spin-offs, rating changes) are also sources of inefficiency which the Investment Manager intends to exploit. The Fund's bottom-up analysis will be complemented by a macro framework. Longer term trends (demographic, behavioural changes) are important to avoid cosmetically cheap companies in terminal decline. The Fund's short-to-medium term outlook will be based on economic indicators, economic data and risk sentiment and will play a crucial role in its net exposure management. Risk will be managed through position limits and qualitative analysis of the underlying look-through exposure in the portfolio. Risk control is an inherent part of the investment analysis process - Samphire Global's modelling and analysis of underlying positions focuses on downside protection and margin of safety.