Our Philosophy

Our investment philosophy is based on four fundamental principles:

We invest in quality and certainty

We invest in quality and certainty

Companies with established products, proven track records and customer loyalty provide superior long term returns with less investment risk. We avoid paying for blue sky as it is typically overpriced and can usually be purchased for free within high quality companies.
A risk-focused investment mindset

Income is a powerful source of return

Our investment process enhances the certainty of return and creates a buffer against losses. We seek long term outperformance by capturing the majority of the market’s strength while insulating investors from periods of market weakness.
Income is a powerful source of return

A risk-focused investment mindset

Rather than defining risk in terms of share price volatility, we view it as the likelihood of a permanent diminution in capital. By incorporating an assessment of risk at multiple stages of the investment process, we are able to take advantage of long term investment opportunities during periods of short term irrational market behaviour.
Valuation is of paramount importance

Valuation is of paramount importance

While earnings are a barometer of a company’s operational performance, valuation ultimately determines investment performance. Using multiple valuation approaches reduces reliance on any single assumption and provides a reasonableness check when assessing the merits of a potential investment.