Asset classes

Contrarianism

Good companies do not always make good stock-picks. We endeavour to separate what is known in the market from what is not reflected in share prices: in other words, to distinguish between perception and reality. We use our expertise to identify market inefficiencies, and adopt contrarian investment positions over the long-term to maximise their alpha potential. Our fund managers’ use their insight and experience to identify such opportunities, and leverage the complementary skills of other investment teams across our business. We combine rigorous fundamental research with quantitative overlays to identify undervalued companies, to understand where they stand in terms of their long-term investment cycle, and the likely drivers of their future share price.

Conviction

We have the conviction to adopt contrarian positions and avoid the herd. We seek out and manage investment ideas in a range of high conviction, actively managed portfolios. We strive to deliver superior investment performance both in absolute terms and relative to our peers, and stand away from benchmark-hugging approaches. Put simply, we believe the best way to deliver consistently positive returns is to allocate our clients’ resources to our best stock ideas.

Concentration

We believe the best way for our investment managers to deliver superior performance is to give them the freedom to build concentrated portfolios based on their highest conviction stock ideas. Throughout the management process, underlying portfolio risk is managed using dynamic and state of the art risk management systems.