Armina Rosenberg’s Minotaur Global Opportunities Fund has outperformed global markets by strategically underweighting US technology giants, including the ‘magnificent seven’. The fund has returned 42.4 per cent net of fees since its inception 18 months ago, surpassing the MSCI ACWI by 9.3 per cent. Minotaur Capital, co-founded by Rosenberg and fellow investor Thomas Rice, identifies as a ‘mispricing fund’, focusing on companies whose future potential is underestimated by the market.
Minotaur’s investment strategy combines fundamental research with generative artificial intelligence to identify opportunities beyond traditional markets. The company seeks out long-term structural or strategic shifts within companies that the market may be overlooking. This approach has led the fund to explore diverse markets, including Japan, where it sees potential in companies with improved corporate governance and shareholder-friendly practices.
One notable Japanese holding is Cover Corporation, a talent agency managing virtual avatars known as ‘VTubers’. Minotaur also holds Chugai Pharmaceutical, a subsidiary of Roche, which is developing an oral version of GLP-1 drugs. The fund has built up $45 million in assets.
Rosenberg previously managed global equities for Atlassian co-founder Mike Cannon-Brookes, an experience she credits with giving her the confidence to launch Minotaur. Minotaur’s edge, according to Rosenberg, lies in its ability to use AI to enhance fundamental research, allowing for quant-like capabilities in the fundamental world.
