MIRI Activist Strategy
The MIRI – Market Interface Relational Investing - Strategy is focused on uncovering strong businesses that in our view are undervalued because of deficiencies in terms of reporting, investor relations, or corporate governance – but which are fixable. We identify management teams and owners that we believe may be willing to implement our friendly recommendations to improve in these areas. We make specific recommendations intended to increase the quantity and quality of public disclosures, to communicate clearly with market participants, including professional foreign investors, and to affirm alignment of interest with minority shareholders. This approach has been an important part of the Firm's investment strategies since inception of the Firm. The MIRI Activist Strategy is run as a concentrated portfolio focused on what we view as undervalued companies with upside potential that can be unlocked through the Firm's activism. The MIRI Strategy is employed wherever this type of inefficiency is uncovered, generally targeting the frontier and smaller capitalization emerging markets.