Our KEY OBJECTIVE is to provide our investors with superior long-term investment returns and lower downside volatility.

We invest in businesses that are able to compound earnings with a sustainable return on capital and cash flows. We believe that an INVESTMENT APPROACH based on fundamentals, which integrates both bottom-up and top-down views, combined with valuation discipline, is the most consistent way of achieving quality investment returns. Our fundamental research process strives to identify companies with businesses that meet our quality criteria, whilst seeking to attain a sound understanding of the business model, sector landscape, business cycle and other long-term drivers of shareholder value. To lower downside volatility, we will actively reduce exposure to companies that are adversely affected by a downturn in business cycle, a deterioration in competitive dynamics or poor management execution.

As we like to be able to take sizeable positions in our high conviction stocks, our portfolio tends to be focused, with typically between 30 to 50 stocks.