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VISION & PURPOSE

 

Our purpose is to manage capital effectively, contributing to better resource allocation in the economy as a whole.

We do this by building trust with our investors, so that they will stay invested when markets are difficult and returns are attractive, and by focusing on investing in companies that generate long-term value for all stakeholders.

We believe that investing in well-run organisations can make a real positive difference to all stakeholders, employees, pensioners, local communities, investors and society as a whole.  Asset prices are a key signal for managers to decide how to allocate a company's resources.  Investments in over-priced assets and companies that have a poor track record, lead to misallocation of capital not only by investors, but by societies and economies as a whole.

By implementing investment processes that focus on identifying well-run companies at reasonable prices and investing when we believe that companies are allocating capital well, we aim to not only deliver superior returns for our investors, but to contribute to better capital allocation in the real economy.

With the rise in passive and computer-driven investing, the societal value of fundamental investors has potentially increased.  If an active manager can build trust with investors, then it is more likely that investors in the fund will achieve better returns by remaining invested in the long-run, thus providing more capital to companies that create value in the long-run, even when times are challenging.  The problem for many investors hasn't been the underperformance of active investment funds per se, but that many investors have a bias towards investing pro-cyclically, buying high and selling low.

Investment managers alike are subject to the very same biases that affect investors in general, which is why we spend so much time seeking to improve our investment processes, trying to be objective, and reducing psychological biases that can negatively affect investment decisions, while reinforcing strategies that have good chances of success.  If our investors trust our processes, they are more likely to invest more when asset prices are attractive and thus achieving a much better overall return, while providing support for well-run businesses.
 

Last but not least, we want to build an organisation that is attractive to employees, with flat hierarchies, quick decision-making processes and flexible work hours.  We want our employees to be able to focus on doing a job they feel passionate about within a culture of growth and focus on success.

We look forward to working for like-minded investors, together with our partners and employees who share our vision for a methodical investment strategy that can deliver a long-term value.

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