First Water Capital Fund - First Water Capital Advisors LLP

The investment philosophy centers on a long only strategy, with a value driven and concentrated portfolio approach. The focus is on intrinsic value maximization at a portfolio level rather than just market value of individual names. To enhance returns, we will regularly review the relative, risk-reward of each stock and redeploy capital over the fund life. Our philosophy is governed by our belief that market values shall converge to intrinsic values over time. Our preferred investment time frame is around 5-7 years to allow our investment decisions to play out. While we are unable to time the short-term movements of the market, we suggest that the funds are staggered over time and accelerated in a down cycle. It is at this point that the value difference between intrinsic and market becomes more pronounced. Our focus is India, which is an economy that we believe has a long way to go.