Description: Invest in stocks that are undervalued relative to their intrinsic value, primarily to generate a source of excess return.

• Stocks that are overlooked by the market, often due to insufficient coverage by analysts or a lack of widespread name recognition.
• Stocks that are currently out of favor with the market due to temporary dips in earnings or because they didn't meet excessive ambitious market expectations for short-term reasons.

Key Features:

• GARP (Growth at a reasonable price) strategy
• At least 3 year investment horizons
• Consistently focused on Small and Mid-Cap stocks.
• A concentrated portfolio of 50-70 names

• Note: The above is for illustrative purposes only and should not be relied upon when making investment decisions. The above may not be applicable to all investment cases.
• Source: SPARX Asset Management Co., Ltd.