Letter to Clients and Limited Partners

July 30, 2020 The first and second quarters of this year could not have been more eventful for our equity portfolio: it took great courage not to sell at rock-bottom prices in March.

We have closely monitored the FED’s interest rates, as they remain the primary tool for restoring financial markets to a new normal, while we try to anticipate what will drive and disrupt the economy amid the severe global impact of the pandemic.

We believe that the FED will continue lowering interest rates, which should be highly beneficial for all investable asset classes. Several new players will benefit specifically, given the drastic changes in work habits and lifestyles.

The founder and senior partners of OSF believe that the near future requires full attention and, most likely, a greater appetite for new investment opportunities. For this reason, OSF will focus exclusively on managing proprietary assets, serving our family offices and related investment holdings.

We wish our departing limited partners and external investors the success they deserve and encourage them to continue exchanging investment ideas with OSF informally, as they have in the past.