Investment Style

 

The VBSC fund invests in high quality North American small-cap equities. Investment decisions are based primarily on rigorous bottom-up fundamental analysis of individual companies. Analysts deliver investment pitches to the investment committee, and positions are executed based on a committee vote and adjusted at the analysts’ discretion.

 

Fund Details

 

• Manager: Desautels Capital Management Inc.

• Custodian: CIBC Mellon

• Legal Advisor: Border Ladner Gervais LLP

• Fund Auditor: Deloitte LLP

• Inception Date: September 2025

• Minimum Investment: $10,000

• Benchmark: 50% Russel 2000 in CAD, 50% S&P/TSX Small Cap

• Management Fee: None

• Investment Objective: To outperform a passive small-cap benchmark comparing 50% S&P / TSX Small-Cap Total Return Index and 50% Russell 2000 Total Return Index ($CAD) by a minimum of 2% over a four or five year moving average annual basis.

• Target Number of Securities: 20 - 30

• Maximum per Individual Stock: 10%

• Maximum in Cash and Cash Equivalents: 5%

• Minimum in Equities: 95%

• Maximum Exposure to Derivatives: The use of derivatives is not permitted

• Leverage: The use of leverage is not permitted​