Paul Forsyth: Impressed with the consistent performance of the BEF Fund
“I have followed the Balkan Emerging Frontiers since its launch in 2010 and have been thoroughly impressed with the consistent performance that Denis, the fund manager, has delivered.
The Fund has a very specialist focus with its emphasis on the countries of the former Yugoslavia – primarily, Serbia, Bosnia and Herzegovina, Montenegro and Macedonia. The area is not well known and researched by western fund managers. This is where Denis has an unrivalled and clear advantage by being ‘on the ground’. He has a thorough and solid understanding of the fabrics of the local markets and the culture that drives investment in the region. Having access to top quality contacts and being able to leverage these relationships has been a significant contributor to the success achieved to date.
Denis is not a desk bound manager who relies on third party research. He travels constantly through the region to keep abreast of developments and to meet companies and contacts face-to-face.
Denis is very much a conviction investor who reflects his views in the construction of the Fund’s portfolio. He is an active manager, quick to take opportunities as they arise. He has been successful in this approach despite the lack of liquidity in the regional markets. The conviction is further demonstrated in a focused approach at a stock, sector and country level.
I am confident that Denis’ thoughtful approach will continue to deliver good long-term returns for investors.”
London, United Kingdom
Prior to Apache Partners, Paul was the founder of the Forsyth Partners Group in 1991 that managed assets of almost USD 1.7 billion. Forsyth Partners was a world leader in fund-of-funds portfolio management. It offered investment products covering all asset classes based on an investment process that combined quantitative analysis with rigorous qualitative assessment of investment managers. He has a wealth of experience, extending to over 35 years, in the finance and asset management. He is recognised as one of the pioneers of the modern multi-manager and fund-of-funds industries.