Aristotle Capital Management has introduced the Aristotle/Saul Opportunity Fund, its first open-ended mutual fund. The objective of the Fund is to seek to maximise long term capital appreciation and income from investments in stocks and other securities, including foreign securities, regardless of market direction.
At its “core,” the Fund strives to be a global “unconstrained” strategy. The institutional, no-load share class will trade under the symbol ARSOX.
The Fund employs its actively managed, “go-anywhere” strategy with a fundamental, bottom-up approach to security selection. It focuses on high quality, structurally good businesses with sustainable competitive advantages that are believed to be trading at significant discounts to Aristotle’s estimate of fair value. The Fund utilises a strategic approach to enhancing Alpha and managing risk and is believed to also be positioned with sufficient flexibility to take advantage of perceived market dislocations as they may arise, including sector/stock overvaluation, fixed income/equity pricing differentials, and possibly specific security/indices and/or exchange traded funds disparities.
The Fund is managed by industry veteran Howard Gleicher, CEO and Chief Investment Officer of Aristotle. Commencing in July 2006, Gleicher served as the sole manager of a private fund with substantially the same investment objective and strategy as the Fund, in his capacity as Chief Executive Officer and Chief Investment Officer at Metropolitan West Capital Management, LLC (“MetWest Capital”). Gleicher was the strategist for MetWest Capital’s Large Cap Intrinsic Value, International Value, and Global Intrinsic Equity strategies. He also served as a senior analyst with MetWest Capital’s investment team. Gleicher departed MetWest Capital in October 2010 and continued to manage the private fund at Aristotle, commencing in November 2010. Prior to co-founding MetWest Capital, Gleicher served as principal, portfolio manager and Investment Policy Committee member with Palley-Needelman Asset Management, Inc. and as vice president and equity portfolio manager with Pacific Investment Management Company. Gleicher holds Bachelor of Science and Master of Science degrees in Electrical Engineering from Stanford University, and an MBA from Harvard Business School and is a Chartered Financial Analyst.
“The origin of the Aristotle/Saul Opportunity Fund investment process stems from a gift many years ago from my grandfather, Saul Schechter, a successful real estate investor and entrepreneur, to his grandchildren. His intent was to see that the gift was managed in a manner that would provide for the recipients and their families for many generations to come, with no limitations as to how that portfolio was to be invested. We hope to maintain that spirit and purpose of creating a Fund that stands the test of time,” says Howard Gleicher.
“We are pleased to offer the Aristotle/Saul Opportunity Fund to the open-ended mutual fund marketplace. This ‘strategy’ previously was only available in the private partnership arena. We feel the timing is excellent for such a product given the rapidly and ever-changing economic conditions across the globe,” says Steve Borowski, President of Aristotle.