Our bottom up investment process applies equal parts fundamental and quantitative research to identify opportunities in undervalued, catalyst rich securities across a range of equity and income-oriented asset classes.
As concentrated active managers we seek to have an excellent understanding of the management, companies and sectors we invest in and tend to focus our investments in a limited number of high conviction opportunities. We believe that concentrated portfolios which emphasize value investing and a catalyst-oriented approach can generate consistently superior risk adjusted returns over long periods of time.
Complementing our bottom up security selection approach is a top down risk management framework which monitors key trends in economic, financial and political conditions across major markets and asset classes.
Rather than avoiding risk entirely, our focus is on taking risk well and having a plan to control the downside. Our goal is to manage each strategy within specific targets for volatility, position sizing and market exposure, while avoiding any peak-to-trough portfolio losses greater than 10%. Within our broader investment process the risk management outlook will always take precedence over our research outlook.
Have significant personal capital invested in every strategy we manage.
Understand our clients’ needs and always serve their interests first.
Communicate clearly, openly and frequently.
Concentrate our efforts in areas where active management can add value.
Be high conviction value investors who are mindful of capital preservation.
Think and act differently from the average investor.
Stay disciplined and follow our investment process when buying and selling.
Love what we do every day.