Richard Stuckey serves as Chief Investment Officer and founder of Ennismore, established in 1998, bringing over 20 years of investment experience with a focus on European small-cap companies. He graduated from Oxford University with a BA in Philosophy (2000-2003) and has eight years of listed portfolio management experience, having joined Ennismore in September 2017 and managing the Global Equity Fund since February 2018. The fund employs a collaborative team-based approach with three additional portfolio managers: Stewart Lim (since March 2018), Geoff Oldfield (since August 2022), and Sachan Sapra (since October 2023). This experienced team combines deep fundamental analysis with a disciplined approach to risk management, utilizing their collective expertise to identify undervalued controlled companies across developed markets while avoiding value traps and poorly managed businesses through their systematic screening process.

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The fund employs a distinctive investment approach focused on 'controlled companies' - businesses with significant long-term controlling shareholders who demonstrate disciplined capital allocation, patience in strategic decisions, and robustness against short-term market pressures. The strategy emphasizes that controlled companies and those with explicitly long-term orientations outperform their dispersed-ownership or more short-term peers by significant margins across multiple studies and time periods. The fund uses both long and short positions to generate positive returns annually, with net equity exposure ranging from -30% to +130% of fund value. The investment process emphasizes bottom-up stock picking, prioritizing companies with strong competitive positions, pricing power, and stability to navigate current market environments. The fund actively avoids what it terms the 'deception category' which covers lower quality corporate behaviors, from overly optimistic financial targets to aggressive accounting manipulation and lack of management integrity.

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