Ann: Daily NAV, page-50

No offence,  but no way should you have all your money invested only with Forager.
a deep value fund with microcap bias doesn't provide anywhere near enough diversification.
there is huge key person risk if something happens to SJ.
I sold out of their International fund as I don't think they have anywhere near enough staff
to successfully run a global share fund.   have a look at their website under "Our Team".
Kevin Rose who was running the North American stocks from New York quit last year.
now they only have Gareth Brown and Alvise Peggion (who also helps
run the Aussie fund),  plus a young looking research analyst ( Chloe Stokes ) .  
Way too small a team and insufficient resources to be an outperforming international share fund
and it's showing in the performance figures,  only 7.99% p.a over the past 5 yrs against
a benchmark MSCI  10.52% p.a