Mittleman Brothers Q2 2019 Investor Letter

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Includes: AEL, AMC, BAM, CMICF, CRMLF, CVA, FPAFF, GAPFF, IEP, JEF, KB, SBRCY, SPB, VLRDF
by: Fund Letters
Summary

Mittleman Investment Management, LLC (“MIM”) is an SEC-registered investment adviser that provides discretionary portfolio management to institutional investors and high-net-worth individuals.

The Mittleman Global Value Equity Fund – Class P declined 4.6% net of fees in the second quarter of 2019, underperforming the MSCI ACW Total Return Index by 9.5%.

MIM believes the Fund has immense upside potential from current prices; about 127% to MIM’s current conservative estimate of fair value.

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