HISTORY OF THE APPLESEED FUND
We launched the Appleseed Fund (APPLX) in December 2006 with the goal of generating market-beating returns
by making prudent, disciplined, and sustainable investments. Since the Fund’s inception, we have worked tirelessly to generate strong returns by investing in well-managed, highly competitive businesses whose shares are selling at significant discounts to our estimates of intrinsic value. Based on requests from investors, we launched an Institutional Share Class
(APPIX) in 2011 which has a lower expense ratio than the Fund’s Investor Share Class (APPLX).
HISTORY OF PEKIN SINGER STRAUSS ASSET MANAGEMENT (advisor to the Appleseed Fund)
Formed in 1990 and based in Chicago, Pekin Singer Strauss Asset Management has managed capital during several challenging investing environments, including the early 1990s recession, the dot-com bubble and bust, the early 2000s recession, the housing bubble and bust, and the ongoing Great Recession. Since the founding of the firm, assets under management have grown close to $1 billion (as of 03/31/15).
Our primary investment goal has always been the preservation of capital, balanced against generating attractive rates of return over the long-term. We consider ourselves to be risk-averse investors, and we focus as much time and energy avoiding downside risk as we do generating positive returns for our investors.
The firm’s portfolio managers are all CFA charterholders, but, more importantly, we are contrarians who are comfortable investing against the crowd. The investment team has a unique blend of both Wall Street experience and operating experience; we find this combination to be invaluable in helping us assess investment opportunities.
Each portfolio manager has invested personal capital in the Appleseed Fund; our interests are aligned with Appleseed shareholders’ interests. We believe this approach makes us more careful about the investments we make and more disciplined about the prices we pay when making an investment.