European Special Situations Fund - CRUX Asset Management London - Investing in Special Situations Fund
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  1. About
  2. Funds
  3. Invest
  4. Literature
  5. News
  6. Contact
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TM CRUX European Special Situations Fund

TM CRUX European Special Situations Fund has been managed by Richard Pease and James Milne since the launch of the fund in October 2009.

The Fund aims to achieve its objective primarily through investment in equity securities of European companies in special situations where it is believed the company is considered undervalued. The Fund’s portfolio will be managed on a concentrated basis. The Fund will be able to invest without restriction by market cap or sector. The Fund may also invest in other transferable securities money market instruments, cash and near cash and deposits.

Fund Name TM CRUX European Special Situations Fund
Fund Manager(s) Richard Pease & James Milne
Inception 1 October 2009 (restructured TM CRUX European Special Situations Fund on 8 June 2015)
Performance Comparator IA Europe (ex UK)
Status UK – UCITS
Pricing Frequency Daily
Minimum Investment Initial £1,000
Monthly Savings £100 Minimum

Investors should note that while the investment objective of the Fund is to achieve long term capital growth there may be situations in which an income return is also achieved.

The TM CRUX European Special Situations Fund typically is more concentrated than the average OEIC sub-fund. Whilst increasing the potential reward, the nature of this funds can increase risk. As such, the returns may be more volatile and will be impacted more by fluctuations in the value of underlying stock.

Derivative transactions may be used for the purposes of meeting the investment objective of the Fund as well as for hedging purposes, although it is not anticipated that the Fund will use this power to enter into derivatives at present.

The TM CRUX European Special Situations Fund a rigorous investment approach, focusing on four key criteria for stock selection:

  • Companies that are not highly capital intensive but generate good cash flow that is either invested in the business, put to work in corporate actions such as M&A or returned to shareholders as dividends;
  • Companies with high barriers to entry and strong pricing power, enabling them to produce robust earnings with good growth potential;
  • Businesses whose management have proven track records as well as meaningful stakes in the companies they run;
  • Companies that have relatively conservative valuations versus their peer group.
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Fund Prices

Fund Objective

The investment objective of the Fund is to achieve long term capital growth by investing in European (excluding the UK) equities of companies in special situations.

Fund Managers

Richard Pease
Richard has over three decades of experience in the financial industry. He has managed the CESSF fund since its launch in October 2009.

James Milne
James  has been co-manager of the fund since June 2015 previously assisting on the fund since launch in October 2009.

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