Single Manager Solutions:

North American Opportunities

The Pacific North American Opportunities strategy is an actively managed, North American long-only equity strategy that aims to outperform the S&P 500 Total Return index consistently.

Thinking differently in North America

The Pacific North American Opportunities Fund offers a distinctive investment opportunity defined by its unwavering emphasis on bottom-up analysis and stock-picking, deemphasising macroeconomic distractions. The fund manager takes an all-cap, benchmark agnostic, concentrated approach, within a capacity constrained fund.

Specialists in North American Equities

The investment team for the North American Opportunities Fund is led by Chris Fidyk, a highly-experienced professional who has over 15 years of investment experience in North American Equity markets and a proven track record of generating returns in various market environments.

The manager combines consistent generation of eclectic investment ideas and in-depth bottom-up analysis within a framework that maximises the potential for outperformance.

Guiding principles

The team follow three guiding principles, forming a foundation for the teams investment process

1

Avoid
losses

The Portfolio Manager seeks to understand and control the downside risk in each individual investment and carefully considers the amount of capital that can be lost if the investment performs poorly.

2

Keep
it Simple

This serves as a tool that helps the investment team to mitigate risks and accelerate decision-making in times of stress and also allows the investment team to sleep well at night (which improves decision-making).

3

Seek
Inevitability

The investment process is focused on identifying investment prospects where future outcomes are inevitable. Equities are securities that discount the future, and the Portfolio Manager believes that investing in equities is made easier when future outcomes can be understood with some precision.

SEEKING INEVITABLE OUTCOMES

The investment team search everywhere possible for interesting investment ideas with the goal to identify companies where future outcomes are inevitable.

Why seek inevitability?
  • Risk mitigation (including ESG)
  • Filtering mechanism
  • Maintain long-term focus
  • Simplify decision-making
  • Provides valuation context
  • Stabiliser in times of dislocation

the 'non-negotiables'

We will ask three questions when assessing new ideas

Do we have a competitive advantage?

The Portfolio Manager believes it is key to invest ‘with a purpose’ and thus will establish a competitive advantage in each of the Fund’s investments. For example; a view that a perceived competitive threat is less threatening than the market believes.

Is the management elite?

Can have a dramatic impact on the future of a business as well as its share price. Strong leadership will make better capital allocation, human resources, strategic and investment decisions, they are also less likely to disappoint investors with poor communication or a lack of contingency planning.

Can we earn 15% IRR?

A key driver of outperformance; the Portfolio Manager will look to underwrite a 15% IRR for any new ideas, significantly in excess of expected market returns over the mid to long term.

Why Invest?

Highly experienced Portfolio Manager with a long track record of generating outstanding returns in North American equities

Fund structured to maximise alpha; concentrated, all cap, benchmark agnostic, and capacity constrained

Three guiding principles that form a foundation for the investment process of the strategy: Avoid Losses; Keep it Simple; Seek Inevitability

Highly active, stock-picking focus with in depth bottom-up analysis that is not distracted by macro

Portfolio constructed of eclectic ideas that looks very different from the S&P 500

The team search everywhere possible for investment ideas with the goal to identify companies where future outcomes are inevitable

We construct a portfolio of eclectic ideas that will look very different than the S&P 500. Although our biases guide us towards certain types of companies, we will examine any compelling risk-reward opportunity that we come across. The profiles of the companies will vary but we will adhere strictly to our investment process – every investment will meet our non-negotiable criteria. We will not surprise you by deviating from this process.
- Chris Fidyk, Portfolio Manager
We are incredibly pleased to welcome Chris to Pacific Asset Management. Chris has a long track record of generating outstanding returns in North American equities and is well-known for his expertise throughout the industry
- Matthew Lamb, Chief Executive Officer

Portfolio team

CHRIS FIDYK

Portfolio Manager

Chris joined the Pacific team in 2022 after 12 years at Findlay Park Partners LLP, for six of those he was Partner and Portfolio Manager. During his time, Chris evaluated and directed investments for a $15bn long-only North American equity fund with a long-term track record of outperformance. Prior to Findlay Park, Chris held multiple roles in investment management and investment banking focused on the healthcare sector.
Instagram

Sam lewis

Research Analyst

Sam joined Pacific in 2023 as Research Analyst having recently graduated from the University of Oxford where he studied Philosophy, Politics and Economics.
Linkedin

DOCUMENTS

News & Insights

News Image – 12@2x
Coolabah Global Active Credit

Pacific Coolabah Global Active Credit Video

Multi-Asset

Multi-Asset: October Monthly Commentary

Multi-Asset

Multi-Asset – Investment Outlook – 2024: November Insights

SEE ALL

find out more:

PAM RESPONSIBLE INVESTING

G10 Macro Rates

EMERGING MARKETS

Contact us

Speak to a member of the client team to find out more:

Nick Lemis

Global Head of Wholesale

Mary Murphy

Global Head of Institutional Sales

Seb Stewart

Head of US Institutional Sales

Jonno Ross

Associate Director

Chris King

Associate Director