We appeal to the investor who is
diligent, patient and rational.

We believe that international equity markets contain inefficiencies that can be exploited. These inefficiencies arise as a result of investors’ psychology, benchmark concerns and increasing short-term timescales. Practically speaking, we believe exploiting inefficiencies is “easier” at the individual stock level rather than through overall market or economic forecasting. We focus our efforts on a single long-only programme, and we are dedicated to the preservation of our clients’ capital.

We have a consistent and replicable investment approach. It focuses on buying sound franchises at prices that allow for returns to compound meaningfully over time. This approach coupled with our programme, which is not benchmark-sensitive, has the potential to provide superior returns over time. We aim to identify high-quality companies where there is a significant discount between the price we are paying and our estimation of the intrinsic value of the business and believe that a genuine long-term time horizon is key to the process.