Our Investment Philosophy
We are convinced that long-term growth of investors’ wealth depends on careful selection of assets, and on protecting the capital when the markets fall.
Our contrarian fund management, based on fundamental analysis, looks to select quality, liquid assets where they have been neglected and therefore undervalued, as they hold the potential for considerable gains and provide a safety margin. This approach is based on lengthy experience of the markets and rigorous research and analysis.
Our portfolios are concentrated on a limited number of strong convictions. When we do not have any convictions, we prefer to hold cash.
We offer investors a pure stock-picking approach to international equities, along with a bespoke asset allocation technique.
Our Approach To Stock-Picking
We take a fundamental management approach based on strong convictions over a medium-term horizon. Our sole aim is to grow your capital, if necessary by ignoring financial indices and going against the flow.
Our approach is based on identifying and monitoring international blue chip companies that meet the following criteria : leaders in their field with high barriers to entry, positioned on growing markets and enjoying a solid financial position. These companies must be led by honest, competent directors.
Our investment method means we take an interest in these companies only when they are being undervalued by the market, to minimise the risk of capital loss. This undervaluation often happens after the company has failed to meet the market’s expectations, or when the market does not fully appreciate the company’s potential growth.
The investment is only made if our in-depth, detailed analysis, confirmed by independent experts, leads us to conclude that the company’s fundamentals have remained healthy and that any difficulties encountered are merely temporary.
We focus our investment on our strongest convictions without paying attention to a benchmark.
Our Approach To Asset Allocation
We allocate on a non-benchmarked basis, following our contrarian investment method.
We avoid getting caught up in trends, and identify undervalued asset classes neglected by the market. If we cannot find any truly undervalued assets, we invest our portfolios in cash as we wait for opportunities to arise.
We then implement our allocation decisions by selecting managers that we have known for many years, who have a solid track record and who, like us, are passionate about the markets, to which they take a bottom-up approach.
We pool our efforts to:
- grow your assets by focusing on absolute returns
- protect your capital during serious crises
- provide simple, clear, transparent, effective management over the long term