The investment team believes consistent outperformance can be achieved by investing with tailwinds, discerning best undervalued ideas and taking intelligent risks. We look for structural change that will drive sustainable growth and seek to identify where the economic benefits will flow. We invest in companies with enduring business attributes, such as exceeding their cost of capital, generating revenue growth and free cash flow, maintaining defendable margins and having a strong brand, that operate in advantaged industries.
Value is always absolute; we value a business with a well-informed, strategic buyer approach and buy only when there is a substantial gap between the value of the business and the market price. We also emphasize effective company management in our decision making, as management affects business results. We look for teams that allocate capital sensibly and treat outside shareholders well. The result of our approach is a high conviction, highly differentiated portfolio of attractively priced stocks with asymmetric return profiles.
Portfolio Level Monitoring
- Active security, industry and sector weights
- Projected volatility and tracking error
- Exposure to unintended factor bets
- Liquidity risk
Firm Level Monitoring
- Comprehensive portfolio review with investment team and senior management
- Individual security holdings across the entire firm