No Base Fee
No Closet Indexing
Welcome to Tidefall Capital Management.
Tidefall is a concentrated, unconstrained investment fund that attempts to compound its capital at an attractive rate of return by focusing exclusively on our best ideas. Our investment advantage comes from our indepth research, long term time horizon and appreciation of biases.
Unlike traditional asset managers or mutual funds where the base fee ranges from 1-2% per year, Tidefall charges no base fee.
Tidefall only takes a fee if you make more than 6% per year. When your return is over 6%, we take one quarter of the excess. For example, to be charged a 1% fee, your investment has to earn 10% per year before fees.
Don’t expect lengthy quarterly commentaries speculating on next quarter’s GDP growth. Long term company research comes first at Tidefall and we look forward to briefly sharing some of what we learn in our client letters.
The market rarely offers compelling investment opportunities, so when we find one, we may make it a significant position size. This level of concentration will lead to volatility in our returns and periods of underperformance.
It is important to note that we don’t measure risk by volatility but rather by the likelihood of capital impairment. Volatility is acceptable; impairing our capital is not.
Potential clients need to share our long term time horizon, otherwise Tidefall is not the right choice.
If you are an accredited investor and are amicable to this strategy, we would like to hear from you.
Past performance should not be mistaken for and should not be construed as an indicator of future performance and there is no assurance that the investment objectives of the Fund will be achieved. An investment in the Fund involves a high degree of risk.
Trevor Scott, CFA
Trevor previously worked as an Investment Analyst at Peters MacGregor Capital Management focusing on global equities. Trevor graduated from Bishop's University with a BBA and is a CFA charterholder. He has few activities outside of investing beyond travel.
Jason Kuan, CFA
Compliance Officer & Client Relations
Jason previously worked as an Analyst with 1832 Asset Management L.P. (a division of the Bank of Nova Scotia) focusing on securities valuations and portfolio optimization. Jason graduated from The University of Guelph with a Bachelor's Degree, Management Economics in Industry & Finance and is a CFA charterholder.