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Argonaut: 20 years of adventure serving investors
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QUAERO CAPITAL’s Argonaut fund celebrates its 20th anniversary
QUAERO CAPITAL is celebrating the 20th anniversary of its flagship fund Quaero Capital Funds (Lux) – Argonaut, which invests in European micro caps (including Switzerland and the UK). Managed on a pure value basis by Philip Best and Marc Saint John Webb, Argonaut has generated since its launch at the end of May 2003, a cumulative performance of +740.7% compared to +514.9% for the EMIX Smaller European Companies Index NR EUR[1]. While it has been soft closed to new investors for a long time, Argonaut is temporarily opening its doors for a limited period and for limited amounts.
Hunting for bargains in the small cap jungle
Once we have cleared up a few misconceptions about small and mid caps, we realise that there are major differences between them and that we can find some real nuggets that have been totally overlooked by the market. This is a particularly good time to be a gold digger.
Small caps may well be the best investment in 2023
Small caps are out of favour and valuations are low. Recession is ahead but business remains reasonably solid for the moment.
Back to the Future – the Return to Fundamentals?
Market commentators have spent a lot of time in recent months on the relative merits of “value” and “growth” styles of investing. As readers will know, we are firmly in the “value” camp, but it is important to define what this actually means.Read more
Constructive engagement with listed smaller companies: A ‘Value’ alternative to Private Equity?
We recently made a presentation at the LVIC Value Investor conference in London (password provided at the end of the article) on the theme of how ‘constructive engagement’ on smaller listed companies can accelerate returns and reduce risk.
European small caps: Active management adds alpha
Unlike large caps, where it is difficult to add value and where passive strategies can provide an effective response, for small caps, active management offers a real opportunity to outperform the market by a wide margin. Not to mention its clear benefits in terms of responsible investment and shareholder advocacy.
VIDEO | Annual review & 2022 outlook | QCF (Lux) – Argonaut & QCF (CH) – Swiss Small&Mid Cap
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Using fundamentals to spot deep undervaluation
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