Investment philosophy
We believe market benchmarks are comprised of both good and bad investments and that short-term market dynamics and pricing anomalies present opportunities for fundamental active investors to add value. We believe that quality companies with sustainable earnings-per-share growth, high-quality attributes and sensible valuations will perform better than the market as a whole over the medium to long term.
Investment process
Our investment approach has three key elements:
Sustainable earnings per share (EPS) growth
We look for companies with the potential to generate sustainable and attractive EPS growth over the medium to long term.
Quality companies
Attractive attributes includes balance sheet strength, proven management, prudent corporate governance and transparent accounting policies.
Sensible prices
While stock prices are often influenced by sentiment in the short term, they tend to revert to prices more closely reflecting their EPS growth over the longer term. Knowing the sensible price to pay for these earnings allows us to identify where they have been mispriced by the market.
