THIS IS AN UPDATE OF THE FUND PROFILES published in 2009 and 2013.
Objective and strategy
The fund seeks long-term capital appreciation by investing in a diversified portfolio of very, very small North American companies.
Aegis believes excess returns can be generated by:
- purchasing a well-researched portfolio of fundamentally sound small-cap stocks trading at low valuations during periods of stress or neglect, when liquidity is low and investor sentiment is poor,
- holding these investments patiently through periods of short-term price volatility while fundamental conditions normalize, and
- selling after fundamental trends reverse, as recovery becomes visible and investor sentiment improves, driving valuations higher.