Investment Philosophy

  • We like businesses that have the ability to earn an attractive and sustainable return on capital over the course of a business cycle and which are run for the benefit of minority shareholders – our bias is towards quality at a reasonable price (QARP).
  • We believe that long-term, active management is a better way to reduce risk than simply following the index.
  • Real risks in emerging markets are absolute rather than relative. We look to reduce absolute risk at the stock level through bottom-up, fundamental research.
  • By capping our strategies we can maintain concentrated, conviction-driven portfolios.
  • We take a long term view, allowing the quality of our companies to generate the returns.

Consistency is the cornerstone of our philosophy.

We do what we say we will do.