The Fund

EuroPac International Value Fund

EPVIX

&

EPIVX

At a Glance

As of March 31, 2024

Number of Holdings
0
Weighted Average Market Cap*
$ 0 B
Consumer Staples Sector
0 %

About the Fund

EPVIX (I SHARE) | EPIVX (A SHARE)

The EuroPac Value Fund is a good option for investors looking for a combination of capital appreciation and income from a global and diversified portfolio of high quality firms.

Our fund is distinct from other value funds in that we focus on a much larger investment universe than the typical value fund, which is simply focused on the main markets in its benchmark. By focusing on a much larger opportunity set, including smaller countries with less focus from larger investors, we are able to extract value in places where others cannot.

Additionally, our investment process is distinct in that we focus on buying only the highest quality companies that have historically traded at a premium, but that have momentarily fallen in favor by investors. Rather than buy the typical value firms that most own, with stagnant earnings profiles, we look to add dynamic, high quality businesses at a discount. This involves a high level of initial diligence, patience and discipline, something we are not short of at Euro Pacific Asset Management.

By blazing our own trail, and focusing on all potential values across the world, we believe we are able to generate attractive returns over the long run, with less correlation to the peer group, adding to risk adjusted returns for investors in a diversified portfolio over the long run. Having the patience to wait for the right price to buy high-quality companies, also means longer holding periods which results in lower portfolio turnover and more tax-efficiency.

Investment Process

Our process begins with a thorough and complete review of all investible companies within our universe. This review is both qualitative and quantitative, with the goal of identifying exceptional companies with strong balance sheets, that are positioned in industries with positive long-term prospects. The highest quality businesses are then valued and placed on a watch list. We will then patiently wait until a business on the watch list hits our target buy price, which incorporates a large margin of safety. By focusing on the long term and having a low portfolio turnover, we believe we are able to increase the chances of successful security selection.

Top 10 Holdings

As of March 31, 2024 |  % of Total Portfolio Holdings

British American Tobacco PLC 5.0%
Agnico Eagle Mines Ltd 4.9%
Newmont Corp 4.6%
Barrick Gold Corp 4.5%
The Bank of Nova Scotia 3.6%
Tencent Holdings Ltd 3.2%
Sonic Healthcare Ltd 3.1%
Franco-Nevada Corp 2.9%
Philip Morris International 2.7%
Shell PLC 2.7%

Geographic Allocation

As of March 31, 2024 |  % of Total Portfolio Holdings

Canada 23.5%
Britain 18.6%
Germany 8.4%
Japan 7.7%
United States 7.3%
Switzerland 6.8%
Denmark 5.4%
France 4.4%
Chile 3.2%
Brazil 3.1%

Sector Diversification

As of March 31, 2024 |  % of Total Portfolio Holdings

Consumer Staples 40.0%
Basic Materials 26.9%
Communications 8.8%
Consumer Discretionary 7.8%
Energy 7.6%
Financial 6.1%
Industrial 2.7%
*Weighted average market capitalization is a type of market index in which each component is weighted according to the size of its total market capitalization. Market capitalization is the sum of the total value of a company’s outstanding shares multiplied by the price of one share.

Fund Strengths

Goal

In addition to identifying fundamentally undervalued companies, the Fund also seeks out companies that pay or are likely to pay high, sustainable distributions relative to their peers.

Valuation

Rather than focus solely on cheap companies, the Fund looks for value using a number of uantitative and qualitative factors applied over a universe of approximately 3,000 individual securities.

Strength

The Fund selects companies with strong balance sheets to reduce the potential for capital risk and earnings volatility. The Fund also believes undervalued companies with strong balance sheets are most likely to have the ability to unlock value when attractive opportunities present themselves.

Management

The Fund selects companies with strong management teams and a history of generating consistent returns and value for shareholders.

Invest with Expertise and Knowledge

Help Achieve Your Clients' Investment Goals

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