Black Ant Investment Management has been a dedicated value investor since its inception in July 2004. We have achieved our track record through a committed and consistent team. Our flexible mandate coupled with our deep understanding of value investing has enabled us to develop our proven strategy of investing across the capital structure – in both equities and credits. The investment process is driven by a bottom-up approach that emphasises the characteristics of the particular investment. We also apply a top-down review to each investment to maintain consistency with our macro outlook and to control for risks extraneous to the asset itself. Our focus is on risk-adjusted returns over time. We currently manage two strategies, a global value product and a dedicated credit fund.