Cayman’s leading boutique investment manager

An impressive track record

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The OAM Funds

Investing in Asian (ex Japan) and European equities.We believe that the only way to truly add value (alpha) is to specialise in a few investment strategies rather than being all things to all people.

OAM Asian Recovery Fund

Launched at $10 per share at the end of 1998. The Fund invests in open-ended funds managed by boutique investment managers in Asia and closed-end funds trading at a discount to NAV that invest in the region.

OAMASRI:KY 118.90

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Performance Since Launch (US$)

OAM Asian Recovery Fund NAV

MSCI Asia ex-Japan (US$) Index (MXASJ)

MSCI Asia ex-Japan Small Cap (US$) Index (MSLUAAJ)

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OAM European Value Fund

Launched at $10 per share at the end of 2002.  The Fund invests in market leaders and consolidators and small and medium-sized companies that are trading at a large discount to our estimate of intrinsic value, and in closed-end funds and family-controlled investment holding companies that are trading at attractive discounts to NAV.

OAMEUVA:KY 49.23

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Performance Since Launch (US$)

OAM European Value Fund NAV/share

MSCI Europe (US$) Index

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Why invest with OAM?

As an independent boutique fund manager our interests and our client’s interests are aligned. We seek to generate superior long term returns. AMG conducted a study of the performance of boutique managers over 20 years from 1998-2018 and found that they significantly outperformed the markets in which they invest.

The boutique manager advantage

The directors, employees and their families own 15-20% of the shares in each of our funds creating a strong alignment of interest with our clients.

OAM is 100% owned by directors and employees, producing an entrepreneurial culture with a stable, motivated and involved team.

We have a distinct investment philosophy with a highly focused investment process. We are preoccupied by the performance of our funds rather than gathering assets. This is reflected in our unique fee structure and reliance on word of mouth referral from our clients.

desmond kinch talking

OAM’s 3-stage investment approach

1. VALUE

Stage 1 is the quantitative approach of appraising intrinsic value. This can either be a net asset value (NAV) approach for investment holding companies and closed-end funds, or a going-concern approach where we estimate normalised earnings and apply a suitable multiple. We seek a margin of safety by purchasing shares at a significant discount to intrinsic value.

2. JUDGMENT

Stage 2 is where we estimate how quickly intrinsic value is likely to grow. We consider the track record of people running the business, industry dynamics, alignment of interest with shareholders, and the historic treatment of minority shareholders in making these judgments.

3. RISK

Stage 3 is to consider risk.  We avoid firms with high financial leverage. We like businesses with either long-term contracts or relatively stable demand for their products and services. Screening for buying by company insiders, spin-offs, and using various quantitative valuation parameters have provided us with investment ideas for further research. Liquidity of the shares that we purchase is considered in a portfolio context.

A unique investment philosophy

Large or rapid growth in assets under management usually lead to disappointing returns.

Our ethos is to manage our clients' investments as we would our own.

As independent thinkers we are innovative, seeking undiscovered opportunities and avoiding crowded trades.

Our approach often results in the purchase of securities that are out of favour or companies operating in sectors that are currently shunned or ignored by other investors. This disciplined investment process requires patience.

The limited size of our funds allow us to be nimble and take advantage of opportunities as they arise, investing in niche, higher quality companies at attractive valuations.

The OAM Funds

Value opportunities with a long time horizon

Watch an interview with Desmond Kinch by Justine Underhill of RealVision TV

Deep value investing

Watch an interview with Desmond Kinch by Raoul Pal of RealVision TV

How to invest with OAM

The minimum amount required to open an account is US$500,000 and the minimum initial subscription to the OAM Funds is US$250,000.

Each client opens a segregated account with OAM by completing the required documents and supplying the necessary customer due diligence documentation as required under the Cayman Islands Anti-Money Laundering Laws and Regulations.

The OAM funds do not charge investment management fees; these are calculated on a quarterly basis in each client’s segregated account. We charge either 1% of assets or 10% of gains above a highwater mark, whichever is higher.

Clients are sent quarterly statements. In addition, the NAV per share of OAM Asian Recovery Fund and OAM European Value Fund is published monthly on Bloomberg, in Wednesday’s edition of the Cayman Compass and on the Cayman Islands Stock Exchange.

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The OAM difference

In an era where it is fashionable to take a detached approach to business, we take the opposite tack. We think the business of looking after our clients' savings is very personal. 

We like to meet our clients face-to-face. At OAM, you won’t be dealing with different people from year-to-year or with administrators at third parties asking you for due diligence documentation. We build strong client relationships, offering a personalised and friendly service.

The OAM Funds

Our fee structure is unchanged since inception and unusual in today’s environment where it is typical for hedge funds to charge 1.5% or 2% of assets under management plus 15-20% of gains above a highwater mark. We charge the higher of either 1% of assets or 10% of gains above a highwater mark.

Based in the Cayman Islands since 1989

We are an established firm, physically based in the Cayman Islands for the past 30 years. 

Our detachment from the daily noise of markets is an advantage, allowing us to stay focused on our long-term value investment strategy.  

We are regulated by the Cayman Islands Monetary Authority under the Securities Investment Business Law and as a Companies Management licensee.  Our funds are regulated by CIMA and are listed on the Cayman Islands Stock Exchange.

The OAM Funds

A stable, motivated and seasoned team

oam in the community

OAM in the community

We give both our time and money to help our community, principally to support education, environment, health and the arts.

We support the National Gallery of the Cayman Islands, the National Trust Land Reserve Fund, the Cancer Society, and in particular the chemotherapy unit, Jasmine, and other non-profit organisations, based in Cayman. 

Desmond Kinch served on several volunteer boards including Deputy Chairman and Chairman of the Fundraising Committee for the National Gallery of the Cayman Islands and as a Director for the National Trust for the Cayman Islands for several years. In the field of education, we have lectured at the University College of the Cayman Islands and the International College of the Cayman Islands. 

We fund the Paul F Fenton Award, named in recognition of Paul Fenton (Finance Professor at Bishop’s University in Canada from 1974-88). The award is worth C$20,000 per annum. This amount will substantially cover the cost of a student attending Bishop’s University in Canada, including tuition, books, residence, a meal plan and compulsory fees. Paul Fenton was Desmond Kinch’s mentor that first got him interested in investments when he was a student at Bishop’s (from 1981-84). The award is offered to a Caymanian student who is currently enrolled in any school in the Cayman Islands.

Visit us at Cricket Square

Overseas Asset Management (Cayman) Ltd.

The Pavilion, Cricket Square, Elgin Avenue, George Town, PO Box 597, Grand Cayman KY1-1107, Cayman Islands

admin@oam.com.ky | Call +1 345 949 8780

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