Sterling Strategic Value

Who We Are

Sterling is one of the oldest activist investors in Europe, founded in 1999 under the guidance of Dr. Tito Tettamanti, a Swiss investor and entrepreneur. Originally a private activist company, Sterling evolved into the Sterling Strategic Value Fund (“Sterling”) in December 2016, which will ensure permanent continuity of Sterling’s impressive 20-year track record.

Our Structure

Investment Advisor

SSVL (Monaco) S.A.M. is the Investment Advisor for Sterling. It provides advisory services, investment analysis and recommendation as well as research to the AIFM.
The Investment Committee of SSVL Monaco is composed of 4 experienced individuals with financial, industrial and legal backgrounds and a long track record of working as a team. The team is further strengthened by an Advisory Committee which is made up of senior professionals from a variety of backgrounds who brings unique knowledge and complementary skills.
SSVL Monaco is a limited company incorporated in the Principality of Monaco and regulated by the CCAF (Commission de Contrôle des Activités Financières) in Monaco.

Investment Manager

Notz, Stucki acts as Alternative Investment Fund Manager (AIFM) for Sterling. It is one of the largest and fully independent asset management groups in Europe. Founded in 1964 in Geneva (Switzerland), it has eight offices globally and approximately $8bn AUM. The team at Notz, Stucki responsible for SSVF is based in Luxembourg.

Fund Domicile

Sterling Strategic Value Fund S.A. is registered in Luxembourg as a SICAV RAIF

Our Approach

Investment Philosophy

Sterling invests in the listed equity of small and mid-cap companies quoted on the major European exchanges. The fund seeks to enhance the value of companies through, where appropriate, an engaged and supportive approach that aligns shareholder and management interests.
Sterling has a zero-loss philosophy, operates with no leverage, avoids currency risk and maintains a willingness to retain cash in the absence of opportunities

What Makes Us Different?

Investment Committee (“IC”) Approach
- Uniquely, Sterling is run by a team of 4 highly experienced IC members governing the investment process and mitigating key-man risk.
- Multi-lingual team with extensive senior level networks and complementary backgrounds
- Supported by a 6-person Advisory Committee and a team of 4 Analysts.
Experienced Activist Investor
- Sterling chooses to be an engaged, respectful and supportive activist shareholder, to best facilitate the implementation of industrial strategy and measures to improve performance
- When required, Sterling capitalizes on close working relationships with key stakeholders to deliver on an activist agenda.
- The Strategy has been run since 1999, making Sterling one of the oldest activist investors in Europe.
Advisory Committee (“AC”)
- Comprehensive access to a knowledgeable 6-person AC and their extensive board/corporate networks supplement internal research and underpin investments.
Sustainable Model
- A business model largely underpinned by permanent capital, a stable IC and a consistent and repeatable investment process.

Investment Committee Sterling’s Investment Advisor (SSVL Monaco) is comprised of an Investment committee, Advisory committee and a team of analysts.

The Investment Committee of SSVL (Monaco), chaired by Massimo Pedrazzini, is composed of experienced individuals with legal, industrial and financial backgrounds and a long track record of working as a team.

Massimo Pedrazzini

Chairman

Dr. Giulia Nobili

Louise Curran

Managing Director

Randel Freeman

Investment Analysts

Paul McNulty

Senior Investment Analyst

Daniel Lurch

Senior Investment Analyst

Gert Steens

Senior Investment Analyst – Consultant

Abdelkader Benchiha

Investment Analyst

Advisory Committee

The AC brings extensive industrial knowledge and networks that supplement internal research and underpin investments

Peter Bertram

Dr. Anthony Bunker

Michael Busch

Dr. Christian De Prati

Wouter Kolff

Wolfgang Stumm

Dr. Tito Tettamanti

Dr. Tito Tettamanti’scareer has spanned the legal, public sector, and financial professions. Recognised as an entrepreneur, financier, lawyer and author, he has worked, taught and published works on subjects that include the legal system, public policy and investments
After a short time in politics, Dr. Tettamanti started the FidinamCompany in 1960 specialising in worldwide tax advising and real estate consulting. He was very active in the seventies in real estate development mainly in North America, in financing in the eighties mainly in New York, and as an industrialist chairing and controlling a worldwide leading textile machines company in the nineties. Later, he made investments in China-based projects in the area of infrastructure and construction
In 1999 he commenced strategic block investing in companies listed on the European Stock Exchanges as well as in distressed securities in the USA. Until 2012 he was the Chairman of the Board of Directors and controlling shareholder of Sterling Strategic Value Limited.
Furthermore, he is currently Honorary Chairman of the Swiss VereinZivilgesellschaft(www.zivilgesellschaft.ch) and often participates in conferences, public debates and publishes contributions for daily newspapers and magazines
Dr Tito Tettamanti is also Governor and Vice Chairman of European Policy Forum, London (www.epfltd.org). For many years he has also been a member of the Board of SchweizerMonatshefte(nowSchweizerMonat) (www.schweizermonat.ch) as well as of IBL – IstitutoBruno Leoni (www.brunoleoni.it), an Italian Think-Tank. He was also a member of the Board of Trustees of AvenirSuisse (www.avenirsuisse.ch) – the largest Swiss Think-Tank
He is the author of four books – “Welches Europa”, “Manifest fur eineliberaleGesellschaft”, “Die siebenSundendes Kapitals” and ”T contro T”

Investment Strategy

Developed EuropeA concentrated, European focused, long only, value seeking, activist fund undertaking a patient and cautious approach to improve companies with a consistent and repeatable investment process
Identify, Understand, FixIdentifying, understanding and fixing stress factors are the core tenets of Sterling’s investment process.
Small & Mid Cap FocusedSSVF is largely sector agnostic with an identified small & mid-cap (< €3bn market cap) universe of ~2,295 stocks
Multi Stage Proprietary ResearchSterling conducts rigorous multi stage proprietary research utilising industrial expertise and advisors

References

I first encountered Sterling in 2007 when I became Chairman of the Supervisory Board for Washtec. From that very first interaction I have always been impressed with their professionalism and how they go about achieving their end goal of improving the companies in which they are invested. This high standard of consistency ultimately led me to join their cause via a seat on their advisory committee. Quite simply, Sterling is how activism should be done.

Michael Busch, Former Chairman of Supervisory Board for Washtec Member of Advisory Committee

Sterling is not your typical activist fund; they are thoughtful, constructive, long-term, operational - not just financially focused and above all ensure a complete understanding of the businesses they are investing in.

Gotthard Haug, Former CFO and then CEO of Teleplan Former member of the Board of Directors of Psion plc

“In my previous role, as Financial Investment Officer at Roche Group, I became very familiar with Sterling. Soon after leaving Roche, I made a personal investment into Sterling which I have now held for more than 15 years. I have been very pleased with my experience during that period and I am a big advocate of the team, their approach to investing, their effective interaction with boards and the transparency they have provided to me as an investor

Peter Matter, Former Financial Investment Officer of Roche Group and Pensionfund

Sterling Strategic Value is very professional and very focused on healthy Corporate Governance and shareholder value creation. At SAFT, Sterling encouraged me - as Chairman of the Supervisory Board - to find a friendly take-over bid which led to a significant premium for shareholders.

Yann Duchesne, Former Chairman of the Supervisory Board at Saft

I am very happy to contribute to such an established and successful fund. SSVF’s investment process demands diligence of the highest standards and is undertaken by experienced professionals with the highest integrity. It is a pleasure to work with a team which has extensive international experience, in creating tangible and positive changes in the companies we invest in.

Peter Bertram, Member of SSVF Advisory Committee

I have been an investor in Sterling since 2009. After having witnessed and benefitted from many years of exemplary performance, it was a natural decision to increase my investment during the fund transformation in 2016.
Sterling’s proven ability in selecting companies and playing an entrepreneurial, active role on the boards is quite unique, largely thanks to its management team and their backgrounds.

Dr. Carl H. Hahn, Former CEO of Volkswagen

Contact Us

Investment Manager

Mr. Paolo Faraone (Director & CEO), Notz, Stucki Europe S.A. 11, Boulevard de la Foire L-1528 Luxembourg
Email: paolo.faraone@notzstucki.lu
Phone: +352 26 27 11 1

Business Introducer of Notz Stucki Europe S.A. for SSVF S.A SICAV RAIF

Mr. Mike Tuke Ex-Ante Advisors LLP – Citibase, Suite 213, 27 Knightsbridge, Belgravia, London SW1X 7LY, UK
Phone: +44 2034112684
Email:UKmarketing@sterlingstrategicvalue.flywheelsites.com

Investment Advisor

Mrs. Rosamaria Elefante (Head of Investor Relations and Marketing), SSVL (Monaco) S.A.M. 27, Boulevard Des Moulins, 98000 Monaco
Email: relefante@ssvlmonaco.com
Phone: +377 9797 2098