Bringing efficiency to the inefficient
Making active management count where it matters
Hesperian Capital Management Ltd. (Hesperian) was founded in 1995 by Randy Oliver. The growth of Hesperian was furthered in 1999 with the assumption of portfolio management duties for The Norrep Group of Funds (Norrep). Norrep is the brand most often seen by our investors and their advisors. Assets under management share a common theme of active management to deliver efficiency from inefficient markets.
From a solid base in Canadian small/mid cap equities, Hesperian has applied its methodology in resource flow-through investing, Canadian all cap equities using a quantitative approach, and small/mid cap equities in the U.S. and globally. Most recently, the methodology has been applied to Canadian resource equities, high yield fixed income, and micro-capitalization equities to bring efficiency to these inefficient markets.
Hesperian's partners share an entrepreneurial desire to create and grow something distinctive. At the core of the firm’s culture is: 1) a common belief that our proven and repeatable investment methodology leads to favourable investment outcomes, 2) a desire to offer a high level of portfolio manager accessibility for investors and their advisors, and 3) a commitment to prioritizing the interests of the fund’s unitholders.
For example, every Hesperian partner and many employees invest a significant share of personal net worth in the business and in Norrep funds. Hesperian is committed to closing products to new money once they have reached the level where additional dollars would limit the portfolio manager’s ability to deliver efficiency from inefficient markets.
As a boutique investment manager, we recognize that not all investors and their advisors are a match for our niche products. The appeal is strongest for the group of investors and advisors whose needs are well matched to our offering and we work hard to earn and maintain their trust. To that end, Hesperian targets inefficient markets that are difficult for investors and advisors to execute themselves due to market barriers, time constraints, or the need for specialization. We make active management count in markets where it matters.
You could say that Hesperian's deep roster of portfolio managers and analysts are obsessive about identifying inefficiently priced companies. Our methodology is best described as a disciplined value approach that blends deep fundamental due diligence with attention to the quantitative factors that have historically been proven to result in outperformance.
As the markets and investor needs change, we balance the benefits of a natural evolution in our business model with the proven advantage of sticking to the strategies and tactics that have resulted in success across many market cycles.