The curated database of hedge funds that publish investor letters. Research by geography, strategy, and schools of thought.
| # | Fund | Strategy | Style | Geography | AUM | Latest Letter |
|---|---|---|---|---|---|---|
As of Oct 16, 2026
Rozendal Global Fund concluded the third quarter ended 30 September 2026 with total Net Asset Value of USD 73.0 million across 36,731 participatory interests, reflecting modest valuation compression from USD 74.5 million in Q2 2026. For Class A, performance over the rolling 1-year period was 3.9% net of fees compared to the Morningstar Global Markets Index benchmark return of 16.9%, pressured by a 7.0% decline in the final month of the quarter. Over rolling 3-year and 5-year periods, Class A generated annualized returns of 13.7% and 10.4%, respectively, with annualized performance since inception at 11.4% (Class B at 10.0%, Class C at 10.9%). Asset allocation demonstrated increased risk appetite, with Long Equity expanding from 93% in Q2 to 95% in Q3, while USD cash trimmed from 3% to 2% and minor currency balances were retained across GBP (1%), PLN (1%), and other currencies (1%). Geographic exposure remains decidedly international, with Europe dominating at 38%, followed by Asia (17%), the UK (17%), the USA (16%), and Other regions (12%). Portfolio management expanded holdings during the quarter by establishing new positions in CTS Eventim AG and DigiPlus Interactive Corporation, while executing zero position exits.
The Rozendal Global Fund employs a high-conviction, bottom-up global multi-asset strategy focused on long-term capital appreciation and superior risk-adjusted returns relative to the Morningstar Global Markets Index. The fund's thesis centers on maintaining substantial net equity exposure (95%) heavily differentiated from conventional market-cap weighted benchmarks by tilting significantly away from the US (only 16% exposure) in favor of Europe (38%), Asia (17%), and the UK (17%). The portfolio managers selectively allocate capital into cash-generative, globally diversified franchises and mispriced market leaders across retail, healthcare, technology, entertainment, and consumer sectors—such as Prosus, Bayer, Jardine Matheson, Kaspi.kz, and newly initiated positions in CTS Eventim and DigiPlus Interactive—seeking idiosyncratic upside across multi-year horizons.
With long equity exposure pushed to 95% and cash/currency reserves constrained to approximately 5% across USD, GBP, PLN, and other currencies, the fund is positioned for maximum equity upside. Management remains committed to an international-first geographic allocation that bypasses crowded US valuation multiples in favor of European and Asian compounders. Moving forward, the fund seeks to navigate currency, interest rate, and geopolitical friction by relying on bottom-up business resilience, pricing power, and fundamental value re-ratings across core top ten holdings rather than top-down macroeconomic positioning.
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