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Our funds are designed to grow your
wealth whilst also protecting capital

Asset Management

International Fund

Our International Fund is a high conviction portfolio of value-creating businesses at reasonable prices. To afford investors with managed fund flexibility, we offer both hedged and unhedged versions of the International Fund. 

Concentrated Portfolio of 15 Investments

We are high-conviction managers with a portfolio of no more than 15 companies. While we don’t seek portfolio diversification through the quantity of investment, we do value business breadth. We have an aversion to businesses doing one thing in one geography. 

Global Bottom Up Approach

We consider ourselves true stock-pickers. Our investment process does not start with economic views or sector themes. We simply avoid owning businesses that depend on a benign or favourable economic environment. We want to own durable, all-weather businesses. We are happy to take a pass on new, exciting industries where the long term winner is far from certain and fast growth attracts competition to the detriment of profitability.

Quality and Value

We look to own value-creating businesses at value prices, that rare intersection of quality and value. We believe there very few stocks that satisfy our demanding criteria. Rather than lower our quality and value threshold, we simply prefer to own a focused portfolio of our very best investment opportunities

Conservative

Our starting point is protecting client capital. We believe rather than compromising returns minimizing losses is the foundation of a good investment outcome. Rather than accepting investment risk and hoping to get compensated for it we seek to avoid it. Each of our four investment principles seeks to reduce business risk; financial risk; management risk; and price risk.