The Martin Focused Value Fund seeks to provide investors long-term growth of capital while carefully managing risk. We aim to do this by purchasing securities at what we feel are bargain prices. Research is at the heart of our process. If done well, we believe research makes volatility a creator of opportunity, not risk. We invest across asset classes in businesses of all market caps. We are willing to hold large portions of the portfolio in cash when bargains are scarce and as a measure of risk aversion to promote both preservation and long-term compounding of capital. We invest our own money in the Fund alongside yours. We can’t eliminate risk, but we make our best effort to manage it by surveying the top-down, macroeconomic landscape for threats, while studying and investing in individual businesses based on bottom-up, fundamental analysis.
As a non-diversified fund, the Fund’s portfolio commonly focuses on a limited number of companies. The poor performance of an individual security in the Fund’s portfolio will have a greater negative impact on the Fund’s performance than if the Fund’s assets were diversified among a larger number of portfolio securities.
Investments in small- and mid-cap companies may be riskier than investments in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. In addition, smaller companies may be more vulnerable to economic, market, and industry changes.
Investment in securities of foreign issuers involves somewhat different investment risks from those affecting securities of domestic issuers. Foreign securities may experience more rapid and extreme changes in value than securities of U.S. companies because a limited number of companies represent a small number of industries. Foreign issuers are not subject to the same degree of regulation as U.S. issuers. Also, nationalization, expropriation or confiscatory taxation or political changes could adversely affect the Fund’s investments in a foreign company.
