Kopernik Global All-Cap Equity Fund

Kopernik Global All-Cap Equity Fund

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22 April 2024
SFDR classification
Article 6
Global Flex-Cap Equity
Investment Style
Mid Value
Fund Size


The Fund seeks to provide long-term capital appreciation by investing primarily in equity securities of U.S. and non-U.S. companies.

The research driven investment process seeks to add value through active management and by selecting securities of companies that, in the manager’s opinion, are misperceived and undervalued by the market. The Fund may invest in any country, market, and sector/industry across the market capitalisation range within the Fund’s predefined investment guidelines.

The Fund’s Sub-Investment Manager, Kopernik Global Investors, LLC, was launched by David Iben on July 1, 2013 and operates out of Tampa, Florida. The firm provides investment management services for investment funds, institutions and separate accounts. Kopernik is a client-centric, 100% employee owned firm and many employees are invested in the firm’s strategies. The investment philosophy is that markets are inherently inefficient and significant alpha may be gained on a global basis via independent thought and rigorous research. Kopernik believes that only through bottom-up fundamental analysis may a thorough, forward looking understanding of a company’s business and valuation be gained. Kopernik views value as a prerequisite, not philosophy and views itself as owners of businesses.

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Key stats

The below shows the information for the share class selected in the drop down box directly below the name of the fund. You can use the drop down box to view information relating to other share classes listed in the fund. A full list of all currency share classes is available on request.

Investment Team LocationTampa, Florida, USA
Active/PassiveActive with reference to a benchmark
Fund SizeUSD1238m
Fund Launch16 December 2013
Fund StatusOpen to all investors
Share Class Launch28 September 2015
Share Class StatusOpen to all investors
Fund CurrencyUSD
Share Class CCYUSD
Management Fee1.5%
Min. InvestmentUSD15,000
Fund TypeUCITS
AdministratorBBH Fund Administration Services (Ireland) Ltd
DepositaryBBH Trustee Services (Ireland) Ltd
AuditorGrant Thornton
Dealing FrequencyDaily
Risk Management
Lower RiskHigher Risk



Past performance is no guide to future performance and the value of investment and income from them can fall as well as rise.

Kopernik Global All-Cap Equity Fund Q4 2023 Webcast

Top Ten Holdings

As of 31 March 2024
NameSectorCountryWeight %
1Newmont CorporationMaterialsUnited States4.6
2KT CorporationCommunication ServicesSouth Korea4.2
3LG Uplus CorpCommunication ServicesSouth Korea3.7
4Southwestern Energy CompanyEnergyUnited States3.0
5Impala Platinum Holdings LimitedMaterialsSouth Africa2.8
6Equinox Gold Corp.MaterialsCanada2.7
7National Atomic Company Kazatomprom JSCEnergyKazakhstan2.6
8Golden Agri-Resources LtdConsumer StaplesSingapore2.5
9CK Hutchison Holdings LimitedIndustrialsHong Kong2.4
10Range Resources CorporationEnergyUnited States2.2

Exposure Breakdowns

As of 31 March 2024

Fund Manager

david iben
David Iben

Lead Portfolio Manager and CIO

Read More
Alissa Corcoran

Deputy CIO, Portfolio Manager, Director of Research & Analyst

Read More


Heptagon Capital Limited, Heptagon Capital LLP and its Partners disclaim any and all liability relating to these materials, including, without limitation, any express or implied representations or warranties for statements or errors contained in, and omissions from, these materials. Certain assumptions have been made, and/or parameters set, in the preparation of these materials which have resulted in the returns detailed herein, and no representation or warranty is made that any returns indicated will be achieved. Changes to assumptions or parameters may have a material impact on the returns detailed. This document should not be considered an offer to buy or sell investments. Heptagon Capital Limited has issued this communication as investment manager for Heptagon Fund ICAV, and is licenced to conduct investment services by the Malta Financial Services Authority.

Heptagon Capital LLP, acting as Distributor, is authorised and regulated in the UK by the Financial Conduct Authority.

Representative and Paying Agent in Switzerland is Société Générale, Paris, Zurich branch, Talacker 50, PO Box 1928, 8021 Zurich, Switzerland. The prospectus, the key investor information document, the Articles and the annual and semi-annual reports are available free of charge from the Swiss representative.

The results given herein are based solely upon historical fund performance as gathered and supplied by Morningstar. That past performance has not been independently verified by either Heptagon Capital Limited or Heptagon Capital LLP. It is not intended to predict or depict the future performance of any investment. Past performance is not necessarily indicative of future returns.

The information contained herein is provided for informational purposes only, is not complete, and does not contain certain material information about the funds, including important disclosures and risk factors associated with an investment in the funds. Before making an investment in any fund, prospective investors are advised to thoroughly and carefully review the fund’s private placement memorandum with their financial, legal and tax advisors to determine whether an investment is suitable for them. An investment in these funds is not suitable for all investors.

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