The Polaris Global Fund headed by Bernard Horn (Trades, Portfolio) picked up five new holdings during the first quarter although only one was an international company, according to data reported by GuruFocus' Real Time Picks.
Polaris’ investment process includes regularly screening a database of companies to narrow down undervalued stocks. Its criteria include those related to sustainable free cash flow, financial strength and liquidity. The process has largely worked well for Polaris – the fund has outperformed the MSCI World Index over each of the three-, five- and 10-year periods. Over the past three years ended the most recent quarter end, Polaris had an average annual return of 9.48% compared with 6.82% for the benchmark. Continue Reading »