Authentically active, responsible and high-conviction portfolios.

With over 30 years' experience of conviction investing, we offer only authentically active portfolios that aim to exploit market inefficiencies. We believe such inefficiencies arise because markets fail to accurately reflect macroeconomic and geopolitical factors, and because persistent behavioural biases cause asset prices to diverge from their intrinsic fair value. To successfully exploit asset mispricing, we therefore believe it is crucial to integrate informed top-down views with rigorous bottom-up company analysis.

Our approach to investment is pragmatic and opportunistic. We employ a wide range of valuation techniques, are style-agnostic, seek clear catalysts to release value, and exploit what we consider to be the best opportunities wherever we find them. Such opportunism extends to our approach to responsible investment. Whereas many of our more dogmatic competitors refuse to invest in companies on the basis of backward-looking ESG data, we take a more pragmatic approach. Rather than automatically excluding companies or industries on ESG grounds, we analyse the ESG risks and indeed opportunities associated with every potential investment in our long-only portfolios. More specifically, we are looking to identify inflection points as our analysis suggests that improving ESG, even if it is from a low base, can be a significant catalyst for stock outperformance. 

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Long-Only Strategies

Our Long-Only strategies span Asian, Chinese, Environmental, Global Emerging Markets, Global, International (ex US) and UK equities. 


Alternative Strategies

Our Alternative strategies comprise Equity Long/Short, Event-Driven and Global Macro.