Our Global equities capabilities

We are a small and diverse team of expert investors. Unlike the traditional fund manager / analyst model, our collaborative team takes joint responsibility for due diligence and portfolio construction. This ensures constructive challenge from multiple perspectives while reducing the possibility of intrusive individual biases impacting our decision making process. We deploy a significant amount of experience, resource, and skill behind each and every stock decision and act on those where our analysis leads to a different assessment of value from the market.

We believe that the compounding of cash flows explains the majority of long-term total returns. That’s why as the market becomes increasingly focused on the short-term, understanding the long term fundamental drivers of cashflows presents compelling opportunities. We focus on a carefully selected cohort of global companies that, in our opinion, have the ability to reliably, persistently, and profitably grow cash flows over the long term.

We believe we can generate better risk-adjusted returns when we are constrained only by our beliefs - not benchmark, peer group, geography, or sector considerations.

We have a core belief that competitive advantage, capital allocation, and runways for growth are the three key pillars that support a stable, solid wealth creation
philosophy.  

We look for rare gems that have these three pillars and then back them with conviction. We never buy companies that we consider to be low quality according to our investment criteria, and manage our portfolios with the aim of avoiding uncertain, macro sensitive, or highly volatile sectors. 

Our experience shows that we will be a more successful and sustainable enterprise
if we deliver strong risk-adjusted outcomes for our customers and align our
behaviours, communications, and incentives with the delivery of those outcomes.