Our Investment Approach

Our bottom-up high conviction approach is based on primary fundamental research and rigorous processes.

Our in-house research is oriented to seek focus and agility in the on-going investment process of our strategies and, on the other hand, the broadness to capture the moving drivers of equity returns of the full spectrum of investment stories covered by our research teams. This enables us to quickly identify undervalued companies or investment ideas, and to conduct primary research to assess their suitability.

Our selection criteria draw from our fundamental research. We analyse intangible factors as well as a company’s financial situation, which we can only do by spending time at its premises, conducting interviews with staff and management, and gathering information from different sources both on the company in question and on their customers, competition and industry sector. We take a highly critical approach to this data, asking questions that are difficult to answer and that demand that we extend the range of our inquiries beyond the usual array of sources. We look for details overlooked or rejected by others, challenging ourselves to consider them from a different perspective. 

We take a considered view on industry sectors and individual companies, generating outperformance through individual stocks in focused portfolios. Because we are independent, we can challenge accepted views while remaining free of any conflict of interest. Consequently we can align our interests directly with those of our investors – maintaining our focus on their success and continuing to deliver returns over the long term.

“By establishing alignment of interest between ourselves and controllers of companies we invest in, we substantially reduce investment risks.”

Aquico Wen, CFA, CPA
Head of Investments - Asia