Changing the seafood industry forever - Bonafide as of 30.05.2018

In addition, the company has recognized the signs of the times and consistently implements its environmental and sustainability strategy with the "Milestone 2020" program. Here, too, our visit in April 2018 produced important findings for our research team. It shows once again fund managers should be found outside their companies. Thai Union's Sustainability Strategy www.seachangesustainability.org is an integrated approach to initiatives designed to drive the global seafood industry forward.

The initiatives are organized in four programs: safe and legal work, responsible and transparent procurement, responsible processing, people and communities. The strong commitment to sustainability and innovation has catapulted the company into our top holdings. The ratios have not been so attractive for years, and we expect margins to increase significantly over the next few quarters.

The Scottish Salmon Company

As described in the April monthly report, we have significantly reduced the Norwegian salmon producers in our asset allocation. Not because we no longer believed in the salmon story, but because we were simultaneously able to switch to other top quality salmon producers such as The Scottish Salmon Company. The incredibly attractive valuation and the future growth potential speak for themselves.

The Bonafide on mission in Brussels

Commissioner Karmenu Vella (Commissioner for Fisheries and Maritime Affairs) emphasized that 70% of the world's seas and oceans, however, accounted for only 5% of value added from that area. The aim of the Commission is to double the value added from these areas over the next few years with various initiatives. https://ec.europa.eu/maritimeaffairs/content/blue-invest-2018_en For this reason, the Blue Invest initiative has been launched to bring together innovators and capital (investors). Bonafide was invited to the event by the European Commission as a specialist for the assessment of investment projects and as a panel participant. https://blue-invest-2018.b2match.io

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