28 Aug 2019 12:05
Gabelli Value Plus+: New research
28/08/2019
An increasingly high conviction approach has seen the number of holdings fall at this US focused trust...
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With exposure across the market cap spectrum, and a disciplined proprietary value investment philosophy, the Gabelli Value Plus+ trust offers a differentiated investment solution and portfolio to a typical US equity vehicle. Using the proprietary Private Market Value with a Catalyst™ investment process that focuses on both the intrinsic value and strategic premium that a company offers a potential purchaser, the managers seek to identify companies which are trading on a substantial discount to the price which an informed buyer would pay for an entire business in a negotiated transaction. In addition to this, they seek to identify a catalyst(s) to realising this value, looking at a variety of factors or potential drivers of a rerating. These can be company specific or relate to the industry at large.
Historically, Gabelli's over-forty-year investment process has provided attractive downside protection characteristics whilst offering a relatively idiosyncratic returns profile. Whilst the trust itself has a relatively short track record, having only been launched in February 2015, Gabelli as a firm has been operating with the same investment philosophy since 1977, with annualised CAGR outperformance of c. 4% relative to the broad equity universe, using the S&P 500 as representative.
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