FPA Crescent Fund on Samsung C&T Corporation
Thesis
The fund sees value in Samsung C&T through its strategic holdings, including assets associated with the Samsung ecosystem. Its construction operation benefits from high-tech facility demand while biotechnology and energy assets add other sources of value. The managers point to improving operations and investor recognition of underlying asset value.
“investors increasingly focused on the company's underlying asset value and opportunities across its collection of businesses.”
Key risks
- Investors may not fully recognize the value of the holdings
- Operational performance and share prices can be volatile