Investment Strategy

• We Believe

  In the inherent cyclicality of global markets
  
  That the disciplined and objective exploitation of market cycles offers significant outperformance opportunities combined with a return pattern that deviates from the market and complements the performance characteristics of other investors.
  
  That the herding behaviour of financial investors which gives rise to market cycles is best exploited using valuation disciplines that ignore the market noise, combined with a willingness to make contrarian decisions, often at key market turning points

• We Utilize

  proprietary valuation models to highlight materially mispriced investment opportunities.

• We Monitor

  the ratio of enterprise value (EV) to replacement value (RV) and other proprietary industry-specific valuation metrics to pinpoint cyclical turning points.

• We Invest

  in sectors with the most favourable risk reward characteristics, in companies with the most discounted valuations in each sector and with stable or improving balance sheets

• Our Mission

  consistently find mispriced, compelling recovery opportunities with asymmetric risk/return profiles at the right point in the sector cycle to drive long-term outperformance.

Strategies

We manage institutional equity portfolios, including: