Our investment mantra, “Marry Valuation with the Cycle,” captures the essence of how we manage money. Simply put, we believe that successful investing requires the combination of attractive valuation and a supportive operating environment.
We believe that bringing these two elements together puts the requisite emphasis on risk management and improves our ability to translate the value we identify through our process into tangible investment returns for our investors.
We make investments based solely on merit as prescribed by our philosophy and process; we do not manage money according to a benchmark or predefined indices.
Whether it’s an investment in equity, bonds, property, currencies, or commodities, our investment approach remains consistent: establish if value exists, then ensure that the encompassing environment will support potential investment returns.
To establish valuation, we look not only at the fundamentals of an investment, but at how it stacks up against competing investments. These relative comparisons help us allocate capital to the most favourable assets available to us.
To determine if the operating environment of a potential investment is supportive we employ an in-house macroeconomic “toolkit”, comprised of long standing, fundamental economic relationships. An understanding of how these relationships influence the different sectors of the economy helps us establish if the environment will be supportive of a potential investment.