- We believe that Equity markets are both inefficient and risky
- Sustainable returns and dividend growth can be achieved through fundamental bottom up stock selection and disciplined portfolio construction focused on minimizing drawdown
- We believe that inefficiencies are greatest at the stock level and that over the long-term stock selection by active fund managers can add value in all equity asset classes.
- Attractive risk-adjusted returns can be achieved through a disciplined, bottom-up, stock selection process and a differentiated, risk-aware, portfolio construction process.
- Our global income strategy seeks to provide an investment proposition that delivers above market returns and income growth while maintaining a lower drawdown profile.
- Only growing companies with predictable, resilient, repeatable business models and formidable, long-lasting competitive advantages are selected for the portfolio.
- We value companies using a disciplined, cash-flow driven approach.
Our Value Add
- Our Depth of Resources: We have a diversified global team of nearly 50 investment professionals, producing proprietary and differentiated company research, which drives our stock selection.
- Our Focus on a Five-Year Research Horizon: We take a very long-term approach to income investing, allowing us to identify resilient companies with sustainable competitive advantages and benefit from the powerful impact of compounding dividend growth.
- Our Equity Analysis Framework, Adapted From Credit Analysis: We evaluate our companies’ cash flows and balance sheets under multiple scenarios, in order to better assess the underlying risks (and potential total returns) they present.
- Unique Integration of ESG: We strongly believe that ESG analysis helps to identify risks that are not typically captured through traditional financial analysis. As a result, we have fully embedded ESG into our investment process.
- Our Proprietary Portfolio Construction Tools: We believe the key to delivering high risk-adjusted returns is through company stock selection and robust risk management. We achieve this through the use of our proprietary, in-house, portfolio construction tools.
Paul Morgan, CFA
David Bertocchi, CFA
Wendy Herringer, CFA