Evermore Global Advisors has launched the Evermore Global Value and Evermore European Value funds, both of which will be managed by David Marcus and Jae Young, formerly with Franklin Mutual Advisors.

Rather than concentrate on market and macroeconomic conditions, the funds will seek undervalued companies poised for strategic change, such as new management, restructuring, spinoffs or downsizings. The fund will primarily invest in mid- and large-capitalization companies with values greater than $1.5 billion, hold stocks for at least a year and actively research and vote on the strategies of the companies invested in.

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