Long Cast Advisers is a Brooklyn-based investment adviser founded by Avram Fisher, its current Portfolio Manager. Prior to launching his own fund, Avram Fisher honed his investment acumen working as an institutional research analyst covering Business Services, Multi-Industrials, Engineering & Construction, Telecommunications, and Consumer Goods. Long Cast Advisers aims to benefit from its holdings that were carefully chosen in a period of 3 to 5 years. Recently, it has released its Q1 2019 Investor Letter, a copy of which you can download below. Among other things in the letter, the fund disclosed a cumulative return of 96% net of fees or 22% CAGR since its inception three years ago.
Cumulative returns on accounts managed by Long Cast Advisers increased20% in 1Q19, net of applicable fees. This was better than the baseline marketindices. Returns for separate accounts managed by LCA ranged from 17% to 26% for the quarter.
Since inception three years ago, LCA has returned a cumulative 96% net of fees, or 22% CAGR, ahead of the baseline market indices. Because our portfolio is comprised of just a handful of typically very small businesses, it is expected that returns will vary considerably from the baseline.
It remains my desire to grow LCA thoughtfully and incrementally with just a handful of new clients per year. If you know other like-minded and patient investors who would appreciate working with me and vice versa, please let me know so we can arrange an introduction.
This quarter benefited enormously from the impact of INSrising 3xin short time. Other significant contributors to quarterly returns include QRHCand EVI. There were no material detractors.
You can download a copy of Long Cast Advisers Q1 2019 Investor Letter here: