What are yours?
AS IT SEEMS
A company’s share price reflects the weighted assumptions of market participants regarding its future development. The distinct views, interpretations, investing requirements and probability scenarios of various investors find their collective expression in this price which, along with opinions about the many influencing factors, shift on a daily basis. Market and competitive dynamics, business models and their sustainability, execution skills and employee motivation are all important factors to be assessed.
Key assumptions are summarised in the variability of revenue growth and profit margin expectations, which ultimately drive company profits and cash flows.
At the end of the day, a company’s share price is nothing more than the price at which two investors with different assumptions meet.
BARIUS CAPITAL MANAGEMENT
As a specialized fund advisor focussing on listed capital market niches with information inefficiencies, our approach is to understand companies qualitatively and quantitatively on a fundamental basis and to make the most plausible assumptions about their future fortunes. In doing so, we try to avoid overconfidence in our assumptions and overly optimistic expectations.
We engage in pro-active information gathering and validation by means of our own rigorous research to arrive at differentiated investment perspectives. As an independently owned and managed boutique, our ability to avoid conflicts of interest and organizational directives is of paramount importance in order for us to exercise true discipline in our investment process.
The team has in-depth investment experience across medium-sized listed European companies and independently identifies investment ideas from this universe.
We strive for high ethical and commercial standards and commit to being a reliable and trustworthy partner, who acts with integrity. Similarly, we seek to establish long-term relationships with companies and investors who share our values.
TEAM
Martin Hofberger
Götz Mäuser
Götz Mäuser lives in the Rhein-Main area in Germany. He started his career as a consultant at McKinsey & Co., Inc., where he served six years in Germany and Brazil. Subsequently, he joined private equity firm Permira as a partner. At Permira, Götz among other things was responsible for the media sector and lead several transactions, most recently SBS Broadcasting Sarl and ProSiebenSat.1 Media AG. From 2007 to 2014 he was member of the supervisory board of MDAX-listed ProSiebenSat.1 Media AG, thereof more than four years as its chairman. Götz is a partner at Barius Capital Management. Since 2014, he has been an independent investor and has served on various boards. He holds a diploma in business administration from the University of Cologne and an MBA from Leonard N. Stern School of Business, New York University.
JP du Buisson
JP du Buisson is from South Africa and has over eight years of investment management and investment banking experience. Before joining Barius Capital Management, JP was a buy-side investment manager at Johannesburg-based Westbrooke Alternative Asset Management, where he focused on its special opportunities fund. While there, he built expertise in activist investment strategies across the South African listed small-mid cap landscape. He followed an investment approach more aligned to private equity, where the investment team utilised its knowhow and network to enhance the value of investee companies. JP studied undergraduate finance and postgraduate accounting at the University of Cape Town. Moreover, he is a CFA Charterholder and Chartered Accountant.
Thibault Mercier
Thibault Mercier is from France and has worked over 7 years in the investment industry. Before joining Barius Capital Management, Thibault worked as a French & Benelux Analyst at Forum Family Office, a small & mid cap European focused investment company with a value investing mindset. He also set up THIME Management, a consulting company in the field of capital allocation. Thibault has a MSc. in Engineering and an Advanced Master degree, summa cum laude, in Finance from the ESSEC in Paris.
BARIUS EUROPEAN OPPORTUNITIES
| ISIN | Retail: DE000A2JF865 Institutional: DE000A2JF873 |
| Administrator | HANSAINVEST Hanseatische Investment-GmbH |
| Depositary | Donner & Reuschel AG |
| Tied Agency Provisioning | DWPT Deutsche Wertpapiertreuhand GmbH |
| Advisor | Barius Capital Management GmbH |
| Type of Fund | UCITS |
| Domicile | Germany |
| Base Currency | EUR |
| NAV Calculation | Daily |
| Inception Date | 3 September 2018 |
| Classification | Equity (51% and higher) |
| Minimum Investment | Retail: EUR 1 Institutional: EUR 500.000 |
| Management Fee | Retail: 1,5% Institutional: 1,2% |
| Performance Fee | 15% above 5% Hurdle Rate with High Water Mark |
| Earnings | Accumulation |