Global Long-Term Opportunities, a global crossover 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 believe are trading at a significant discount to risk-adjusted intrinsic value. The strategy invests in equity securities as well as any level of the capital structure that Kopernik perceives to offer the best potential risk-adjusted returns. In conjunction with its equity investments, the strategy may also invest in real assets including, but not limited to, commodities, natural resources, and streams and/or royalties.
The strategy may invest in low 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”).
Kopernik defines Emerging markets to include all emerging and frontier markets and countries that may not be classified as developed by MSCI.