EUROPEAN VALUE

BANOR SICAV – European Value is an equity long only Fund managed following a value-based approach originating from the “Security Analysis" developed by Graham and Dodd (Columbia Business School of NYC) in the '30s. The Theory of Value Investing relies on very solid elements, while the listed price of a stock, as per the Theory of Market Efficiency, often reflects the markets' volatility more than the intrinsic value of a company. Ideas are generated through experience and company meetings. We do our own rigorous fundamental research and on-the-ground due diligence. Portfolios are built from the bottom up, balancing upside potential with capital preservation. Hedging techniques are only applied at times of increased market volatility.

Please subscribe after carefully reading the documents relating to the Sicav.
As for the graphs contained in the Prospectus, past performance is no guarantee of future results.

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