 St. James Investment Company of Dallas, Texas is the sub-advisor to the Castle Focus Fund. Robert Mark, founder and partner of St. James Investment Company serves as the Fund’s portfolio manager. When managing the Fund, St. James Investment Company utilizes the same investment strategy that they have used for private client accounts since 1999. |
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An Absolute Return Mindset
The portfolio manager believes that an investor with an absolute return mindset may outperform by protecting capital in down markets and being sufficiently positioned to produce positive returns in up markets.
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Investor Class: MOATX
Class C: CASTX
The Castle Focus Fund will follow the same
strategy that the sub-advisor has used for
its private clients since 1999.
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High Conviction
The Fund will typically own 20 to 30 well-understood businesses. A core conviction of our process is that having an in-depth understanding of fewer companies is preferable to a general understanding of many companies. Therefore, each position can make a substantive contribution to the Fund's performance.
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Margin of Safety
Valuations are imprecise. The portfolio manager looks for superior businesses that he believes are trading at substantial discounts to their intrinsic value. By doing so, the manager believes that having a portfolio of these type of companies can add a 'margin of safety' that may not be present in higher p/e portfolios..
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Uninterrupted Compounding
Finally, the portfolio manager believes that successful long-term investing should begin with preserving capital in down markets. If investors can preserve capital, it gives them the opportunity to have additional capital to participate in upward-moving markets. The manager's time-tested process has shown them that patience and discipline are necessary in the absence of obvious bargains. When the portfolio manager is not able to find stocks trading at a substantial discount to intrinsic value he is willing to hold cash.
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learn more about the Fund's Investment Process
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