Tenma Limited was inspired by the original 1950s Buffett Partnerships and is a close replica of the original Buffett Partnership Rules. Tenma’s Managing Partner, Michael Vance, is an ardent disciple of Warren Buffett and closely follows Buffett's principles on value investing and capital allocation. Tenma was launched on in 2011 with $100,000 from friends and family. The fund has consistently beaten the Dow, Nasdaq Composite, S&P 500 indices and 99+% of hedge funds.
Michael's stated objective of Tenma is to, over the long run, beat all three major indices and over 99% of mutual and hedge fund managers. To date, the funds have exceeded these goals.
Like the original Buffett Partnerships, Tenma has an unusual set of rules and guidelines under which it operates:
All funds are managed solely by Michael Vance, the Managing Partner.
Tenma is only open to accredited high net worth individual investors and qualified institutions.
The funds can invest in any publicly traded equity or debt instrument on any exchange worldwide.
Holdings are only disclosed to the extent required by law. Investors receive GAAP compliant financials.
All investments are managed in separate accounts to maximize transparency and accessibility.
Tenma is a highly concentrated, long only fund investing in 3-15 common stocks at any point in time.
We do not use leverage of any kind.
Our tactical cash reserve strategy moves between common stocks and cash sweep vehicles throughout the year to protect the downside and maximize investor gains.
There are no management fees.
Returns above 6% are assessed a 30% performance fee with a high watermark.
We only make money when you do.
Michael C. Vance