Debt-free Balance SheetA debt-free capital structure materially lowers refinancing and solvency risk, giving the company durable financial flexibility. Over 2-6 months this supports the ability to hold volatile equity positions through downturns, fund distributions, or meet obligations without forced asset sales.
Listed Vehicle Access To Global EquitiesThe company’s business model as a listed investment vehicle offers persistent, structural demand from investors seeking active global equity exposure. This scalable wrapper provides liquidity via the exchange and long-term access to manager expertise, supporting steady capital inflows over time.
Recent Positive Operating/free Cash FlowStrong positive operating and free cash flow in the latest year demonstrates the firm can generate tangible cash even amid volatile returns. Sustainably positive cash enables funding of distributions, fees, and operations without asset sales, improving resilience over multiple quarters.