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 19, 2026
Staude Capital Global Value Fund Limited (GVF) posted a net return of 0.3% in September 2026, bringing FY2027 first-quarter year-to-date net performance to 1.4%. Since its July 2014 inception, the fund has delivered an annualized net adjusted NTA return of 10.9%. During the month, the primary positive return drivers were the manager's core discount capture strategy, which contributed 0.6% to gross returns across a broad spread of holdings, alongside a 1.6% tailwind generated by Australian dollar depreciation against the US dollar. These gains were partially offset by broader equity market declines and fund operating costs, while the portfolio maintained underlying asset class exposures across listed equity (40%), listed private equity (20%), listed infrastructure (15%), listed real estate (12%), and debt. Macroeconomic conditions throughout September were defined by a pronounced bond market sell-off, characterized by debt investors staging a buyers' strike amid concerns surrounding persistent inflation, heavy government fiscal deficits, elevated energy prices, and substantial debt issuance financing artificial intelligence infrastructure. Global credit fell 2.9% in US dollar terms as the 10-year US Treasury yield surged 59 basis points. Despite higher discount rates presenting theoretical equity valuation headwinds, broad US corporate earnings remained robust, buoyed by the ongoing artificial intelligence cycle and projected third-quarter S&P 500 earnings growth of 27%. From a portfolio implementation standpoint, the investment team has maintained minimal exposure to direct debt instruments over the past year in search of superior risk-adjusted opportunities elsewhere. However, the sharp rise in global yields and subsequent debt price dislocations have prompted the team to actively evaluate prospective debt additions. Key representative discount-capture holdings include The Renewables Infrastructure Group, HarbourVest Global Private Equity, RM Infrastructure Income, and US Masters Residential Property Fund, all benefiting from proactive corporate actions, tender offers, buybacks, or managed realizations.
GVF seeks to generate market outperformance by acquiring global assets trading at significant discounts to intrinsic value and executing strategic catalysts to close those valuation gaps.
The investment team anticipates continued opportunities from market dislocations, actively reviewing prospective new debt investments following rapid rises in yields while harvesting value across existing discounted holdings.
Moderate Conviction Bullish
Market Conviction
Growth Outlook
Risk Appetite
Capital Deployment
Forward Guidance
Language Signal
Perceived Risk
Opportunity Density
Time Horizon
Top Conviction Themes
Key Catalysts
Every insight in this database connects to the original source. Read the actual thesis, see the actual concerns, and make your own call.
Buyside Digest has no business relationship, partnership, agency, sponsorship, endorsement, or affiliation with Staude Capital - The Global Value Fund or any other manager whose content appears on the Service, except where expressly stated. We do not receive Manager Content directly from managers in most cases; content is collected from publicly available sources. Managers have not necessarily reviewed, approved, authorized, or endorsed our display of their content, our editorial commentary, our metadata extraction, or our classifications. Use of a manager’s name is for accurate attribution and identification purposes only, under principles of nominative fair use.
Buyside Digest does not independently verify the regulatory status, registrations, licensing, qualifications, credentials, or professional standing of managers whose content appears on the Service. We do not represent that managers are properly registered with applicable regulatory bodies, that their content complies with applicable securities laws, or that their performance representations are accurate. Inclusion of a manager in our database is based on the publicly available nature of their content, not on our verification of their regulatory status or content compliance. Users are responsible for conducting their own due diligence on any manager.
Performance data, returns, assets under management (“AUM”), and similar figures displayed on this page are sourced from publicly available manager communications (including investor letters), public filings, or other third-party sources. Buyside Digest does not independently verify performance figures, calculate returns, or audit manager-reported data. Such figures: May be selectively reported by the manager; May use non-standard calculation methodologies; May not reflect fees, expenses, taxes, or other costs; May be inconsistent across reporting periods; May be outdated. Past performance is not indicative of future results. Performance figures should not be relied upon for investment decisions without independent verification. Users should request audited performance data directly from the manager and conduct their own due diligence.