The Global Long-Term Opportunities strategy seeks to achieve its investment objective of long-term positive real returns by investing in equity securities of companies located throughout the world, including emerging and frontier markets, which Kopernik believes are trading at a significant discount to risk-adjusted intrinsic value. The strategy typically invests in equity securities but may invest in any level of the capital structure that Kopernik perceives to offer the best potential risk-adjusted returns, subject to additional strategy guidelines. The strategy may invest in lower liquidity securities which may include smaller capitalization companies, non-publicly traded companies, and companies that have a smaller percentage of total common shares outstanding that are freely traded (or “free float”)
Global Long-Term Opportunities Guideline Maximums (at purchase):
- Issuer weight 5%
- Industry weights 35%
- Sector weights 50%
- Country weights 35%
- Emerging Markets 55%
Kopernik defines Emerging Markets to include all emerging and frontier markets and countries that may not be classified as developed by MSCI.