HIGHLIGHTING MOLSON COORS BREWING CO, VALUE ON TAP

Elevation Capital Value Fund: Investors in the Fund own a share of Molson Coors Brewing Company, the fifth largest brewer in the world by volume. We have previously held a position in Molson Coors from 2011 to 2015 which generated an annualised return of +29.8% over a span of 4.7 years. Stagnating beer consumption in developed markets, coupled with the debt taken on by Molson Coors to finance a transformational acquisition in 2016, have caused a sell-off in 2018 and 2019 which presented us an opportunity to re-invest in the company. Learn more about Molson Coors and why we have invested in this business again by reading our Investment Summary and Full Presentation available here.