Emerson Point was founded in October 2017 by Amir Mokari. NZ Funds is one of Emerson Point’s founding investors alongside a commitment of over US$100 million from David Stemerman, portfolio manager of Mokari’s previous firm, Conatus Capital. Emerson Point’s primary focus is on three core sectors: consumer, TMT, and business services. Emerson Point believes that these three core sectors offer compelling long and short opportunities given the tectonic shifts caused by the rise of the internet, demographic evolution (aging of millennials into peak spending years), and changing consumer behaviours due to technological innovations. Emerson Point is Connecticut-based, managing over $300 million.1
LSV Asset Management (LSV) is a Chicago based global shares manager. LSV was founded in 1994 by three professors of finance - Josef Lakonishok, Andrei Shleifer, and Robert Vishny. LSV uses a quantitative investment approach choosing undervalued shares with the potential for medium-term appreciation. While LSV’s investment approach has been refined over the years, it is still based on the original academic findings of Lakonishok, Shleifer and Vishny. Today, Lakonishok continues to manage the company he founded two decades ago, and regularly visits NZ Funds’ investment team in Auckland. LSV manages over US$105 billion2.
MFS Investment Management (MFS) is a United States based global investment manager, formerly known as Massachusetts Financial Services. Founded in 1924, MFS is one of the oldest asset management companies in the world and has been credited with pioneering the mutual fund. MFS manages equity and fixed-income assets for a global client base that includes public and corporate pension plans, insurance companies, sovereign wealth funds, endowments, foundations, and investment advisory firms such as NZ Funds. MFS has US$430 billion in assets under management as of 31 December 20183.
Suvretta is a New York based hedge fund founded by Aaron Cowen in 2012. Cowen is the former Co-Portfolio Manager of SAC Capital, a hedge fund which compounded its clients’ wealth by approximately 25% p.a. for over 21 years, equivalent to turning $100,000 into $10.8 million. When Cowen left SAC Capital to start his own hedge fund, NZ Funds approached him to manage money on our clients’ behalf. Cowen focuses on large US companies and uses a long-short investment approach. Since NZ Funds invested he has grown Suvretta’s funds under management to US$3.6 billion4.
Universa is a specialist hedge fund founded by Mark Spitznagel in January 2007. Mark is the former head of Morgan Stanley’s secretive equity options proprietary trading division. On Wall Street, Mark is known for having made a hugely profitable billion dollar derivatives investment that profited from the 2008 share market crash. Universa is now closed to new clients but counts sovereign wealth funds, government pension and NZ Funds amongst its loyal clients.