Investment Philosophy

The investment process, founded initially by Jacob and Edward, centres around picking well managed, cash-flow generative companies - at the right price. They do not invest according to index weights, believing this to increase, rather than decrease risk and they take a very serious view of valuations.

They see the emerging markets as a high growth zone and as a result the most important lesson (learned in 1998 and 2008 by many of our peers) is that you should always have a value underlay to your investment. They also invest a great amount of time in visiting companies on the ground - in the countries where they operate. It is only through complete qualitative AND quantitative checks that the serious (but often common) mistakes can be avoided and this, we believe, is our most effective risk control, especially in a conviction driven portfolio such as ours.

Consistency is the Cornerstone of our Philosophy

We Do What We Say We Will Do

• We manage long term, bottom up, conviction-driven, concentrated (40-stocks) portfolios.
• We have a consistent investment approach which does not change with markets.
• We focus on reducing absolute risk through rigorous research and analysis.
• 30% top down blended with 70% bottom up enables a clear strategic direction for our research process.
• Working with a focused tight-knit team complimented by our structure of weekly meetings and a highly ordered research process.

We believe that the baton has now been passed to the Emerging Markets. The key to our strategy is not to overpay for this growth.