The Fund invests in equities issued by US and Canadian companies. The fund follows a bottom up value based approach and a long term view. The objective of the fund is capital preservation and growth in the medium-long term with a medium annualized volatility and a medium correlation to equity markets.
Latest Meeting Note
Meeting 14 Oct 2021
From April 1st 2021 Banor North America changed advisors to Westbeck Capital and the fund is now run in line with the Westbeck Volta fund which launched in July 2019. The strategy is a long/short global equity fund looking to benefit fro... Read more
From April 1st 2021 Banor North America changed advisors to Westbeck Capital and the fund is now run in line with the Westbeck Volta fund which launched in July 2019. The strategy is a long/short global equity fund looking to benefit from the global energy transition with rechargeable batteries at the centre of the theme. Led by PM and co-CIO Will Smith, the team use their deep industry knowledge and experience to identify opportunities long and short based around the revolution in battery-based energy transition, targeting companies with undervalued transformational growth stories. This will often take them away from the blockbuster names eg Tesla, and focus on derivations of the trade, eg component makers. The team see a long / short approach as best due to an inherent cyclicality in the sectors traded as well as persistent mis-pricing opportunities in both directions. The team see energy transition as one of the biggest investment themes of the next 20 years, affecting an array of market segments in a global manner. Further, an accelerating energy crisis and differing regulatory regimes/support are destined to create greater dispersion within related markets and ultimately create a fruitful long/short environment. The portfolio is run with a conservative net, ranging between –10% and 35%, with exposure spread across market caps and countries and targets a 15-20% annual return from a concentrated portfolio of 20-30 stocks.