Lansdowne Princay Fund
The Princay Fund was launched in April 2015 and is managed by Samuel Joab. The Fund is a European focussed long/short equity fund that intends to generate returns from bottom-up stock selection with low leverage.
At its core are several key investment principles: patience, simplicity, careful diversification, and liquidity. The portfolio is relatively concentrated, usually 30-35 stocks in Europe. Typically, no more than 10% of NAV will be invested in non-European companies. The Fund will focus on liquid large and midcap stocks, typically with <10% in stocks with a market cap below $1.5bn. Typical gross exposure is expected to be 80-120%, with maximum gross exposure of 150%. Normal net exposure range is +65-90%, with flexibility to be up to 20% net short.