Kinsale Compass Fund
Kinsale Capital Management launched Kinsale Compass Fund, a Global Equity Value Fund, on November 1st, 2011.
Kinsale Compass Fund is up 92.50% after all fees since inception in November 2011.* This return has been achieved with an average cash holding of 32%.
Kinsale Compass Fund was awarded the prestigious EuroHedge Global Equity Fund of the Year 2013 Award, having previously been nominated as New Fund of the Year – Equities in 2012. Following its selection for the EuroHedge Awards 2014, 2015, 2016 and 2017, the Fund has now been nominated for six consecutive years.
Kinney Asset Management L.L.C. acts as sub-advisor to the Fund. Kinney Asset Management is a value orientated investment manager founded in 2003 by Peter Kinney with the financial backing of renowned value investor Joel Greenblatt of Gotham Asset Management.
Peter Kinney is the portfolio manager of Kinsale Compass Fund. Mr. Kinney is a top-performing, seasoned investment manager with 30 years experience in global value investing.
Kinsale Compass Fund employs the same investment process as Kinney Asset Management’s U.S. based investment partnership, which Peter Kinney has managed since inception in 2003.
Kinsale Compass Fund employs a strict value orientated investment strategy. It is our strongly held belief that a portfolio of quality companies purchased at extreme discounts to their true worth will provide superior risk-adjusted returns over a 3-5 year holding period. The Fund will look globally to find the best possible companies at the cheapest prices.
Typically a discount of 50% or more to its intrinsic value is required to initiate purchase of portfolio companies. These discounts are typically only available in periods of extreme uncertainty in either the macro-economic picture at large or when the company in question is facing uncertainty in its own business prospects. The portfolio manager, where appropriate, actively engages with the management of target companies to assist in determining the company’s intrinsic value.
The Fund is conservatively managed with an average cash holding since inception of 32%. This cash holding offers the Fund the flexibility to take advantage of extreme values following market or individual stock dislocations. The cash position will naturally shrink as good ideas become available and grow as stocks, in general, become more expensive. Typically the Fund will own between 15 and 20 stocks.
Kinsale Compass Fund does not use leverage, derivatives**, nor employ naked shorting.
Kinsale Compass Fund is structured as an Irish domiciled QIAIF (Qualifying Investor Alternative Investment Fund), it is not available to U.S. investors.
Kinsale Compass Fund is suitable for long-term investors only. It has a lock-up period of 1-year.
*as of the end of October 2023. Further performance related information is available on request.
**exclusive of currency hedging.