Power and Courage of Active Managers

The team seeks to own companies that generate significantly more cash than they need to sustain their planned growth yet are lowly valued by investors on that measure and are run by managers committed to an intelligent use of capital.

The team believes there is a greater polarisation between the winning and losing companies as the former adapt to a world that is changing at an ever-increasing speed while the latter do not. This creates opportunities that the team seeks to exploit.

The team believes innovation is the single most important driver of stock returns and AI will drive a fundamental shift in economic dynamics over the next decade. The team manages three Article 8 funds.

The fixed income team dynamically manages the top-down positioning of their Article 9 fund, adjusting duration to reflect the economic environment. The team focuses on high-quality companies where the risk of default is low.

The team seeks to take advantage of inefficiencies through a thorough understanding of the economic environment and detailed bottom-up stock analysis. They manage three Article 8 funds.

The team seeks to identify companies that possess intangible assets which produce barriers to competition and provide a durable competitive advantage to sustain a higher than average level of profitability.