Why We Invest in Enduring Themes Worldwide？
We recommend an approach based on thematic principles, backed up by a strong valuation discipline.
At Infore Capital Hong Kong, our public-market philosophy starts with a simple question: “What will the world look like in ten years, and which businesses will be indispensable to that future?” Everything else—country, sector, index weight—follows from the answer.
The conventional playbook—hire dozens of regional managers, hug the index, compete on fees—has become a race to the bottom. It is expensive, undifferentiated and, most importantly, misaligned with the patient capital we manage for the He Family and the growing base of external clients who entrust us with their wealth.
Instead, we pursue a single, thematic approach that is valuation-driven, research-intensive and unconstrained. Three principles guide every decision:
1. Enduring, not episodic
We study structural forces that will reshape the global economy for decades—decarbonisation, precision healthcare, intelligent infrastructure, the digitisation of money and identity, and the data-driven reinvention of cities. These are secular, not cyclical, and they transcend borders.
2. Universe first, stock second
For each theme we map the entire ecosystem of public companies (minimum six-month trading history) and private businesses likely to benefit. Only after defining the broadest possible universe do we apply a disciplined valuation overlay to identify the 60-80 highest-conviction names.
3. Concentrated conviction, absolute return mindset
Every portfolio is built without reference to a benchmark. This freedom allows us to size positions based on upside asymmetry, not index weight, and to be judged on five- and ten-year outcomes rather than quarterly tracking error.
The result is a suite of public funds—one per theme—and a “Best Ideas” portfolio that distills the single highest-conviction name from each theme into one global portfolio. For clients with bespoke requirements, we also offer tailored mandates at a minimum ticket of USD 10 million.
Modern data science compresses the cost of this high-touch process, while the rise of passive investing continually widens the valuation gaps we seek to exploit. In short, the market’s short-termism has become our long-term opportunity.
We do not promise smooth lines every month. We do promise alignment: our capital sits alongside yours, invested in the enduring themes that will define the next decade—and valued with the patience those themes deserve.