FORUM Family Office (“FFO”) has administered the wealth of a Munich - based family since 1990, FFO has no customers. Our mission is to invest these assets in companies that combine an outstanding business model with strong competitive advantages. When we find such companies we like to stay invested long – term, preferably for the next generation of the family. We make only direct investments and only in Europe: - FORUM European Smallcaps (“FES”) in publicly quoted companies - FORUM Private Equity (“FPE”) in privately held companies. We are determined value investors: we do relatively few new investments p.a. as we: - want to understand what we own. - have a high Hurdle Rate and demand a high Margin of Safety.