A Specialist Opportunities Fund.
With Global Reach.

The Mercantile Opportunities UCITS presents a unique investment opportunity over the medium to long term.

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Fund strategy.

The Mercantile Opportunities Fund is a sub-fund of the Multi-Manager UCITS Platform Fund Plc. With the objective of achieving above average return on capital, the fund is designed to provide a unique investment opportunity over the medium to long term, via investment into a geographically diversified portfolio of equities, debt securities and a diversified portfolio of open-ended funds (“Underlying Funds”). Toggle below to view the strategy in more detail and the maximum percentage that the fund is allowed to invest in each asset class and sector.

actively managed

Actively managed, the Fund may invest across any sector and may be diversified in terms of country or region. Asset allocation between equity and debt (either directly or via Underlying Funds) may vary considerably over time.

equities and bonds

Individual equities and bonds are selected by the Investment Manager using a ‘bottom up’ analysis.  The ‘bottom up’ process is focussed on credit and balance sheet analysis, meetings with companies management, and is carried out on each transaction before it is considered as an investment.  Companies are chosen on the basis of their business model, strength of balance sheet, sustainability of cash flow, dividend yield and expected level of growth. Credit analysis, designed to ensure the credit worthiness of all securities, is considered important in achieving the objective of above average return on capital.

strategic equity purchases

For strategic equity purchases, the key criteria include earnings quality, sustainable dividend growth, compelling valuation, strength of company management and consistent free cash flow. Compelling valuation is assessed by comparing the assets inside an investment to the price of the overall investment and future value of assets based on the managers outlook for asset values across sectors. Strength of company management involves an evaluation of the organisational structure as well as the experience and abilities of senior executives.

tactical equity purchases

For tactical equity purchases, which will be made with a much shorter time horizon to take advantage of perceived short term anomalies or mispricing with assessment of chart patterns and trading volume, momentum, moving average convergence/divergence, relative strength and volume.  Recent and anticipated stock-related announcements will also be considered.

Generally, the aim of strategic equity purchases is to buy and hold whereas the aim of tactical equity purchases is to buy and realise a profit in under six months.

For bonds, key considerations include yield to maturity, liquidity, credit rating, asset quality, income security and duration. Underlying Funds will be selected on the basis of performance indicators (such as historical returns) and other valuation criteria (including risk-return indicators such as Value at Risk) which the Investment Manager deems appropriate to achieving the investment objective of the Fund.

ancillary liquid assets

For temporary or defensive purposes, the Fund may invest up to 20% of the Net Asset Value in cash or cash equivalent instruments such as short-term government obligations and fixed income government bonds with a minimum rating of Aa+ (Moody’s, Fitch, S&P). The Investment Manager uses its discretion as to when to invest in these asset classes, based on conditions in equity  markets and will do so with the aim of reducing the effects of the volatility of equity markets on the Fund’s portfolio and preserving the capital of the Fund.

The Fund may invest substantially in deposits with credit institutions.  An investment in the Fund is not in the nature of a deposit in a bank account and is not protected by any government, government agency or other guarantee scheme which may be available to the holder of a bank deposit account.  The value of Shares may go down or up and investors may not get back the amount invested.  The assets of the Fund will be invested in accordance with the restrictions and limits set out in the Prospectus and such additional investment restrictions, if any, as may be adopted by the Directors in relation to the Fund.

EQUITIES
SMALL CAP EQUITIES
UCITS FUNDS
ALTERNATIVE FUNDS
GOVERNMENT TREASURIES
INVESTMENT GRADE FIXED INCOME
NON INVESTMENT GRADE FIXED INCOME
EMERGING MARKETS
CASH

Why choose the fund.

a fund with global reach

the fund is not limited to investment by asset class, size, geographical restrictions or industry sectors

hands-on, experienced managers

our investment manager has extensive experience of identifying, structuring and executing bespoke investment portfolios

suitable for a range of investors

the fund is suitable for investors who are willing to tolerate medium volatility and are seeking a portfolio which has a medium to long term horizon

high governance and compliance

as well as having our own experienced compliance managers. The Fund is also overseen by separate licensed entities to ensure independence and governance

Fund objectives.

The investment objective of the Mercantile Opportunities Fund is to achieve an above average return on capital.Toggle below to view more details on what the fund invests in:

equities and equity related securities

The Fund may invest directly or indirectly (through Underlying Funds) up to 100% of its net asset value in equities and equity-related securities, which are listed on any Recognised Exchange globally. Equity-related securities to which the Fund may have exposure, include, but are not limited to common stock, preference shares and warrants (limited to 10% of net assets).  The Fund may invest in recently issued transferable securities (limited to 10% of net assets), which will be admitted to official listing on a stock exchange or other market within a year. While the Fund may invest in a mix of small, mid and large cap equities, it is possible that the Fund may hold up to 100% of net assets in small cap equities at any time. The Investment Manager considers companies with a market capitalisation of up to £250 million to be small cap, companies with a market capitalisation of £250 million to £1 billion to be mid cap and companies with a market capitalisation of over £1 billion to be large cap equities.

collective investment schemes

The Fund may invest up to 100% of its assets in Underlying Funds, primarily UCITS (including exchange traded funds “ETFs) but may also invest, in aggregate, up to 30% of its net asset value in alternative collective investment schemes, subject to the requirements set out in the Central Bank’s guidance. 

Subject to the foregoing, the Underlying Funds in which the Fund will invest, be they UCITS or alternative investment funds, may be largely domiciled in the EU (typically, but not limited to, Ireland and Luxembourg) but may also be domiciled in jurisdictions outside the EU (such as the United States) as long as they satisfy the criteria above.

The Underlying Funds may invest directly and indirectly through financial derivative instruments in equity and equity-related securities and in debt and debt-related securities.

debt and debt-related securities

The Fund may invest directly or indirectly (through Underlying Funds) up to 100% of its net asset value in debt and debt-related securities (debentures, gilts, deposits, notes and bonds including corporate, sovereign, floating and fixed rate notes and bonds),  which may be issued or guaranteed by any sovereign government or their agencies, local authority, supranational or public international bodies, banks, corporates or other commercial issuers (hereinafter “Debt and Debt-Related Securities”)).

Debt and Debt-Related Securities held by the Fund will be listed on any Recognised Exchange globally and will be primarily of investment grade quality. The Investment Manager considers investment grade Debt and Debt-Related Securities to be those which have a credit rating higher than BBB- at the date of purchase as rated by Standard & Poor’s (or equivalent recognised rating agency).  Investment in non-investment grade debt and debt related securities will be limited to 10% of net assets.

Performance

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Holdings

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Share class

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Driven by results.

The senior management team behind the Mercantile Opportunities Fund have a track record of success within the markets in which the fund operates, alongside extensive business and portfolio management experience.

Driven by results, we aim to build strategic partnerships that foster growth, drive profitability and create shareholder value.

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