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Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Themes	Quick Take

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Farrer 36 Asset Management 2022 Q2 Investor Letter | Buyside Digest

Back to Fund Profile (Farrer 36 Asset Management)

Primary Source Intelligence • Q2 2022 Letter Analysis

Farrer 36 Asset Management Quarterly Analysis

Buyside Digest is not affiliated with, and does not endorse, Farrer 36 Asset Management. This analysis is provided for institutional research purposes only and is not investment advice.

Fund Returns

Annualized-14.31%

Digest Analysis

Quick Take

"Analysis pending..."

Executive Summary

No summary available.

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Institutional Meta Strategy

Meta Strategy Gauges

Algorithmic conviction, macroeconomic posture, and risk appetite signals extracted from this quarterly letter with qualitative explanations.

Signal Matrix

Market Conviction

60%

CautiousHigh

Moderate (60%)

Despite significant underperformance and candid self-criticism regarding past execution errors, the manager expresses strong belief that core holdings are trading at 30-50% below fair value.

Growth Outlook

20%

BearishBullish

Bearish (20%)

The manager notes that the macroeconomic scenario remains dark, with high inflation, rising interest rates, and an impending recession.

Risk Appetite

35%

DefensiveAggressive

Defensive (35%)

The fund is taking a more cautious stance by scaling into positions more slowly, seeking balance across uncorrelated sectors, and maintaining active portfolio hedges.

Capital Deployment

20%

De-riskingDeploying

De-risking (20%)

The fund made minimal overarching portfolio changes, selectively trimming some holdings while cautiously building small tactical positions like 1stDibs.

Forward Guidance

50%

CautiousExpansionary

Neutral (50%)

The manager remains optimistic about multi-year portfolio recovery and strong long-term returns once market sentiment shifts.

Language Signal

30%

BearishBullish

Bearish (30%)

The tone is highly transparent, reflective, and humble regarding past process mistakes, while remaining resolute in long-term fundamental analysis.

Perceived Risk

15%

Low RiskElevated

Low Risk (15%)

The manager perceives high macroeconomic risk from persistent inflation, potential recession, and swift multiple compression across equity markets.

Opportunity Density

60%

ScarceAbundant

Selective (60%)

The manager views the bear market drawdown as creating attractive valuations and tactical bargain opportunities in high-quality companies.

Time Horizon

85%

Short-TermLong-Term

Decade+ (85%)

The letter heavily emphasizes a multi-year investment horizon, advising clients to ignore short-term volatility in favor of long-term compounding.