We think about and value businesses like a private owner and look to buy at a discount to that intrinsic value. We believe that the value of a business is a function of the cash flows it will generate over time.
Human behavior and market sentiment are more volatile than the underlying intrinsic value of a business. With a long-term view, we look beyond short-term volatility and focus on company fundamentals.
We believe there are a limited number of great investment ideas. Therefore, we build bottom-up, research-driven, high-conviction portfolios with the aim of delivering attractive risk-adjusted returns for our investors.
Our equity portfolios are differentiated by market-capitalization and the degree of investment flexibility afforded to the portfolio managers.