INVESTMENT ADVISOR

D&F Financial Services B.V. serves as the investment advisor of Citadel Value Fund. Established in 2001, D&F specialises in conducting in-depth company research and investment selection based on deep value investing principles. The directors of D&F Financial Services are Edwin Flick and Felix Oberdorfer, both financial specialists with a long track record in the investment industry.

Edwin Flick

Managing Partner, Financial Analysis

Edwin Flick is a financial analyst with more than 30 years of experience in investment research. Previously he worked at MeesPierson, where he served as the senior equity analyst responsible for the European IT services & software team. Before that, he covered several sectors including IT, media, and capital goods as an analyst at Rabo International and Swiss Bank Corporation. He graduated with an M.A. degree in Quantitative Business Economics from the Erasmus University Rotterdam in 1992. Since 2001, he has been active as an independent financial analyst.

Felix Oberdorfer

Managing Partner, Financial Analysis

Felix Oberdorfer brings more than 25 years of experience in investment research and investment management. He spent 12 years as an institutional equity analyst and Head of Research at MeesPierson and Fortis Bank. He was awarded the no. 1 rating in the Thomson-Extel Institutional Investor survey for three years. Between 2008 and 2016, he held Director positions in the fund management sector at Parcom Capital and Project Holland Fonds. He graduated with an M.A. degree in Financial Economics from the Vrije Universiteit Amsterdam in 1998. Since 2016 he has been active as an independent financial analyst.