Tower Fund, Ltd. is a South African equity long/short fund. The PMs have extensive SA private equity experience and have brought this to bear on their fundamental research in the listed SA market. The investment strategy is focussed on identifying mispriced securities predominantly in the underfollowed mid-cap space. The portfolio is concentrated around high conviction fundamental ideas, and supplemented with opportunistic trading. Net exposure is flexible and dynamically managed and unwanted risks hedged out. Liquidity is key. The strategy replicates the successful onshore (South African domiciled) fund which has been running since 2009. AUM is the aggregate of the Onshore and Offshore.