Own the world's best businesses*.
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Focused investing, long-term thinking.
Our approach is simple, to own the highest quality businesses at a fair price.
We buy businesses, we don't trade markets or themes.
Our investment approach is conservative but not conventional.
Good businesses are rare, good businesses trading at a discount to their intrinsic value are even rarer.
We own a concentrated portfolio of resilient businesses that grow organically, have high margins and low levels of debt.
We exclude large parts of the market that are commoditised, leveraged, complex and cyclical. Valuation matters.
Our aim is to earn a return of 8–12% p.a. after fees over a 5–7-year market cycle.
Process
People
As a dedicated team of global investment professionals, we draw on decades of industry experience to construct a resilient portfolio that can perform under a wide range of economic conditions. A positive team culture with no egos and open conversations are paramount for better decision-making.
Performance
We aim to generate absolute returns of 8-12 per cent p.a over an investment cycle (5 - 7 years). Our starting point is protecting client capital. We believe rather than compromising returns, minimising losses is the foundation of a good investment outcome.
Read some of our recent insights below - our approach is positioned on transparency. We believe in treating investors as partners. We make clear the source of the investment returns and honestly communicate if investments have fallen short of expectations.
Recent Insights
Read some of our recent insights below - our approach is positioned on transparency. We believe in treating investors as partners. We make clear the source of the investment returns and honestly communicate if investments have fallen short of expectations.