The Alder Difference

Micro, Small and Mid Cap Focused
  • Inefficient pricing
  • Lack of Wall Street following
  • Problems often more transparent and fixable

Tax Efficiency
  • Objectives encompass significant after-tax returns
  • Short term capital gains taxes substantially reduce investment results
  • Frequently ignored in stated investment returns
  • For example, over 5 years a long-term oriented fund with 20% average annual pre-tax returns will outperform its short-term equivalent by over 40% on a cumulative after-tax basis
  • Since inception, the fund has generated only relatively small amounts of net short-term capital gains

Combined Macro and Micro Analysis
  • Rigorous fundamental research and stock selection is combined with in-depth macro-economic analysis