“As we navigate the current market downturn, we continue to believe in the value of both active-management and our valuation-based investment philosophy in minimizing downside exposure for our investors. Moreover, we believe our research team’s continued focus on finding companies which are capable of withstanding market cycles, and which have the balance sheet flexibility to take advantage of opportunities presented by market disruptions, positions us well in our goal of providing returns higher than passive alternatives for our investors over the next five years…”