Moerus Capital Management LLC

Founded in 2015, Moerus Capital Management LLC is an investment management firm offering investment products to institutions, financial intermediaries, and qualified individuals.

We utilize the same fundamentals-based investment philosophy across all investments, which seeks to purchase securities trading at large discounts to conservative estimates of their intrinsic value, with a preference for companies that possess strong financial positions, high-quality assets, and attractive business models.

The Moerus Worldwide Value Fund invests in stocks using our distinctive asset-based investment philosophy. This fundamental, bottom-up, value-oriented investment process aims to buy the securities of companies that trade at substantial discounts to what we believe are conservative estimates of their intrinsic value. The Fund has a broad opportunity set that is less restricted by considerations relating to geography, industry, or index, resulting in a portfolio that is built from the bottom up and based on what we believe are the best absolute value opportunities currently available.

We believe that this time-tested approach results in:

  • A portfolio that typically has very little overlap with the index.
  • An eclectic mix of businesses and geographies with high upside potential.
  • Access to opportunities across a mix of developed and emerging markets around the world.
  • Opportunistic investments in areas others are avoiding: underfollowed companies, complex business models, and industries / geographies in temporary distress.
  • A focus on our highest-conviction investment opportunities, providing diversification while not diluting the potential contributions from individual investments.

    Moerus’ name is derived from the Classical Latin word describing a city’s defensive walls, which were designed to protect a city and its inhabitants from risks, both predicted and unforeseen. Though we are unabashed value investors, we cannot emphasize enough that cheapness alone is not enough to warrant an investment. We believe a keen awareness of the risks facing an investment is essential to generating solid returns over the long run.

    The opportunities that we often find ourselves pursuing typically face near term challenges, risks, and uncertainties. We welcome such transitory turmoil, as it sometimes provides unusually compelling opportunities. However, because of this short-term turmoil, we seek to populate our portfolios with companies that have a “Moerus” - strength, staying power, and wherewithal - to withstand a variety of risks.

    Copyright Moerus Capital Management, 2021

    Investing involves risk, including possible loss of principal. Equity securities are subject to market, economic and business risks that may cause their prices to fluctuate. Investments made in small and mid-capitalization companies may be more volatile and less liquid due to limited resources or product lines and more sensitive to economic factors. Fund investments may be concentrated in a particular country geographic region, sector, industry, or group of industries, and the value of Fund shares may rise and fall more than more diversified funds. Foreign investing involves social and political instability, market illiquidity, exchange-rate fluctuation, high volatility and limited regulation risks. Emerging markets involve different and greater risks, as they are smaller, less liquid and more volatile than more developed countries. Frontier market countries generally have smaller economies and less developed capital markets than even traditional emerging markets, and, as a result, the risks of investing in emerging market countries are magnified in frontier market countries. Currency risk is the risk that the values of foreign investments may be affected by changes in the currency rates or exchange control regulations. Significant investments in cash or cash equivalents may run the risk that the value of the cash account, including interest, will not keep pace with inflation. Please see the prospectus for details of these and other risks.

    Foreside Fund Services, LLC, Distributor.

    Investors should carefully consider the Fund’s investment objectives, risks, charges and expenses carefully before investing. This and other important information about the Funds is contained in the prospectus, which can be obtained by calling 1-844-MOERUS1 or visiting The prospectus should be read carefully before investing.