Sandon Capital Activist Fund

Sandon Capital Activist Fund December 2015 Commentary

Sandon Capital Activist Fund commentary for the month ended December 31, 2015.

The Sandon Capital Activist Fund delivered a return of 0.9% in December, bringing total returns (net of all fees and expenses) since inception to the equivalent of 13.4% per annum.

Volatility in the market continued to provide good opportunities for adding to existing positions as well as providing new opportunities. Our current cash balance of 14% appears low relative to history – Sandon’s cash . . .

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