Seeing opportunity and optimism in a changing world

We invest in liquid shares of great companies, with strong and predictable characteristics, on global stock exchanges.  Regardless of the economic backdrop, our long-term approach seeks global opportunities that deliver consistent and repeatable returns ahead of inflation.

An investment approach founded in
conviction and common sense

Ideas without limits

We harness knowledge and insights from many different sources to uncover great ideas. Our thinking is unconstrained by the likes of index benchmarks or geographies.

Trends not cycles

Resisting short-term fads and market noise, we look for enduring structural trends and then find companies benefiting from that change.

Perspective on risk

Our approach to managing investment risk comes from our clients’ perspective on risk. Risk to them is the potential for permanent capital loss, not risk relative to an index. We manage this all the way through our process.

Valuation focus

We are looking for quality at a fair price. As well as clear financials and a cash flow focus our approach to valuation is absolute not relative — applying a margin of safety throughout.

No stone unturned

Rigorously analysing investment opportunities takes time and focus. We combine our different skills and experience to continuously question and learn.

Responsible investment

ESG is integrated into our company research. Robust governance is important for all companies. We also analyse material social or environmental risks that may affect the long-term value of each of our holdings. As our clients invest with a long-term horizon, we look for companies that will be durable for decades to come.

Taking care of your future

When we buy shares in companies we become business owners with rights and responsibilities. We have an opportunity to contribute to the company’s long-term success and we take the time to understand and support their strategy.

Stewardship activities are not something we outsource. Our clients see the extent we go to in researching and engaging with companies in which we invest.

To find out more about our voting and engagement please read our latest reports and policies.