Investor Summary

Hervé van Caloen served as Portfolio Manager and CIO with over 30 years of experience managing international equity portfolios. Starting his career as an analyst at Scudder, Stevens and Clark in 1985 when global investing was still in its infancy, van Caloen became portfolio manager of the Scudder Variable Life International Fund and later launched The PaineWebber Europe Growth Fund, the first mutual fund specializing in both Western Europe and former communist countries of central Europe. In the mid 1990s, van Caloen led the international investment effort at Provident Capital Management and later served as First Vice President of Schroders in New York. He has served as portfolio manager of Mercator since its creation in 2018, bringing deep expertise in international markets and contrarian value investing strategies.

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Fund Strategy

The investment objective of the Mercator International Opportunity Fund is to generate long term capital gains by investing in a geographically diverse portfolio of foreign equities. Mercator Investment Management invests in wealth creators outside of the United States, identifying public companies around the world that enjoy secular growth through fundamentals informed by bottom-up research while understanding the cultural, political, and economic environments in which they operate. The fund employs opportunistic and contrarian investing with thematic and bottom-up research, letting winners run and maintaining very low portfolio turnover. The Fund invests at least 40% of its assets in securities of companies domiciled outside the United States, focusing on transformative companies, corporations that offer steady growth and trade at a reasonable price (GARP stocks) and turnaround situations.

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FUND PERFORMANCE AS OF 30th June 2024

ANNUALIZED SINCE INCEPTION QUARTERLY YTD
2.5% -3.0% -3.9%