Equity Mandates 

Our experienced portfolio managers use a bottom-up approach to stock picking which is best described as "growth at a reasonable price". This proven process looks for stable companies whose favourable valuation has not yet been priced in to their share price. We use a special dividend discount model to value stocks, and a lifecycle approach to assess the companies’ growth prospects. All companies normally go through a cycle, over the course of which growth accelerates and slows down a number of times. When assessing a company, we first determine where it is in its lifecycle. We pay particular attention to the business model and the firm's potential to carve out a global competitive advantage. A company will merit a different fundamental valuation depending on its stage in its lifecycle.

We aim to invest in companies positioned as early as possible in their growth cycles, which are gaining market share, have growth potential and are attractively priced.