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Audience

Our investment philosophy

Our investment approach seeks to identify ‘episodes’, or periods of time during which, in the opinion of the fund managers, assets become under- or over-priced as a result of investors reacting emotionally to events rather than considering normal fundamental investment principles such as inflation or interest rates. These episodes could be short-lived or last several years.

We employ a robust valuation framework in conjunction with this behavioural approach, in order to assess the long-term value present in a range of asset classes before we invest. This helps the fund managers decide which assets to buy or sell at any particular time.

Our approach is truly global: we assess the value present in major asset classes around the world, including equities, bonds, credit, property and cash, across all major investable markets.

However, the investment team does not try to provide better macroeconomic forecasts than the rest of the marketplace; rather, the fund managers’ edge lies in investigating the reasons for market movements and investing where markets are displaying signs of an episode.

We believe that this investment philosophy is unique. Our edge lies in combining macroeconomic research with a behavioural finance overlay in a proven, repeatable process that can turn investment opportunities into portfolio returns.

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