Investment
Philosophy
Our long-term, disciplined investment philosophy is focused on value discovery, not price discovery. We believe that financial markets are inherently inefficient and that, through disciplined and diligent analysis, we can identify investment opportunities where market prices do not reflect long-term fundamental value. We believe we can create real long-term value for our investors by repeatedly exploiting this pervasive market characteristic.
Our Approach
Our investment approach is designed to identify undervalued leading companies in targeted industries which we have analysed and believe are structurally attractive. However, we avoid excessive exposure to highly correlated industries to ensure we manage systemic risk appropriately. Nevertheless, our funds can take relatively concentrated positions in individual businesses, and we do run concentrated portfolios, typically with 30-40 individual holdings.
Our Strategies
We believe that being an active investor means doing something different from the market and adding value through the investment process.
We invest in the true sense of the word, buying stakes in businesses and, where appropriate, helping them to fulfil their long-term potential. We are happy for our performance to be compared to the market, and we are confident that we can better it over the long term. Our principal focus, however, is on delivering an attractive absolute return to our investors.
Our Research Team
Our research team consists of experienced professionals dedicated to creating long-term value for our investors.
View TeamExplore Our Investment Strategies
Discover how our research-driven approach and disciplined investment process create value for our investors across different market environments.