We deliver the distinct exposures that investors expect from an unconstrained fundamental value manager. Across all phases of the market cycle, our process and portfolios reflect a consistency and conviction that is increasingly hard to find.
We look for disconnects between the market rating of capital and the productivity of that capital.
We believe that there is no correlation between price paid and investment outcome over short periods. Value requires time, patience and resolve.
Low multiples do not always correspond to good value. In-depth analysis is required.
To allocate capital globally on the basis of discount to intrinsic value, valuations must be comparable.
We focus on our best ideas, not risk versus a benchmark. All of our strategies have high active share.
We insist on a discount to intrinsic value. That is our “margin of safety.”
Our Dublin based team of portfolio managers and research analysts bring deep experience and specialist knowledge to each step of our investment process.
Each member of the Fundamental Value Equity Team specializes in a global sectors. On average the team has over 20 years of industry experience and over 10 years tenure at the firm.
We invite you to learn more about our unconstrained, concentrated portfolios of equities that we believe to be undervalued relative to their long-term earnings power.