The Strategy aims to achieve long-term outperformance primarily through investment in a concentrated number of high quality, attractively valued, well-run companies that have strong balance sheets and dominant market positioning. The Strategy seeks and continues to hold shares in businesses that we believe are more immune to global economic cycles.
01We believe few companies can consistently and reliably compound shareholder wealth at superior rates of return over the long term. |
02We believe that a concentrated portfolio of these exceptionally high-quality companies, when selected with an absolute value bias, will earn attractive returns with less than average absolute volatility. |
03We invest in businesses that display what we consider to be the best combination of growth, quality, yield and valuation. |
General risks. Past performance is not a reliable indicator of future results and performance targets may not be achieved; losses may be made.
Specific risks. Currency exchange: Changes in the relative values of different currencies may adversely affect the value of investments and any related income. Derivatives: The use of derivatives is not intended to increase the overall level of risk. However, the use of derivatives may still lead to large changes in value and includes the potential for large financial loss. A counterparty to a derivative transaction may fail to meet its obligations which may also lead to a financial loss. Equity investment: The value of equities (e.g. shares) and equity-related investments may vary according to company profits and future prospects as well as more general market factors. In the event of a company default (e.g. insolvency), the owners of their equity rank last in terms of any financial payment from that company. Concentrated portfolio: The portfolio invests in a relatively small number of individual holdings. This may mean wider fluctuations in value than more broadly invested portfolios.