Single Manager Solutions:
North American Opportunities
Thinking differently in North America
The Pacific North American Opportunities Fund offers a distinctive investment opportunity defined by its unwavering emphasis on bottom-up analysis and stock-picking, deemphasising macroeconomic distractions. The fund manager takes an all-cap, benchmark agnostic, concentrated approach, within a capacity constrained fund.
Specialists in North American Equities
The investment team for the North American Opportunities Fund is led by Chris Fidyk, a highly-experienced professional who has over 15 years of investment experience in North American Equity markets and a proven track record of generating returns in various market environments.
The manager combines consistent generation of eclectic investment ideas and in-depth bottom-up analysis within a framework that maximises the potential for outperformance.
Guiding principles
The team follow three guiding principles, forming a foundation for the teams investment process
1
Avoid
losses
The Portfolio Manager seeks to understand and control the downside risk in each individual investment and carefully considers the amount of capital that can be lost if the investment performs poorly.
2
Keep
it Simple
This serves as a tool that helps the investment team to mitigate risks and accelerate decision-making in times of stress and also allows the investment team to sleep well at night (which improves decision-making).
3
Seek
Inevitability
The investment process is focused on identifying investment prospects where future outcomes are inevitable. Equities are securities that discount the future, and the Portfolio Manager believes that investing in equities is made easier when future outcomes can be understood with some precision.
SEEKING INEVITABLE OUTCOMES
The investment team search everywhere possible for interesting investment ideas with the goal to identify companies where future outcomes are inevitable.
Why seek inevitability?
- Risk mitigation (including ESG)
- Filtering mechanism
- Maintain long-term focus
- Simplify decision-making
- Provides valuation context
- Stabiliser in times of dislocation
the 'non-negotiables'
We will ask three questions when assessing new ideas
Do we have a competitive advantage?
Is the management elite?
Can we earn 15% IRR?
Why Invest?
Highly experienced Portfolio Manager with a long track record of generating outstanding returns in North American equities
Fund structured to maximise alpha; concentrated, all cap, benchmark agnostic, and capacity constrained
Three guiding principles that form a foundation for the investment process of the fund: Avoid Losses; Keep it Simple; Seek Inevitability
Highly active, stock-picking focus with in depth bottom-up analysis that is not distracted by macro
Portfolio constructed of eclectic ideas that looks very different from the S&P 500
The team search everywhere possible for investment ideas with the goal to identify companies where future outcomes are inevitable
Portfolio team
CHRIS FIDYK
Portfolio Manager
imogen tyer
Research Analyst
Sam lewis
Research Analyst
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