Strategies & Capabilities

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Pursuing Quality, Sustainable Growth and Reasonable Valuation

We are laser-focused on finding quality companies that can deliver growth that is stronger and more enduring than the market’s expectations.

These companies are rare, so when we find them we pursue them with confidence and conviction—but we never abandon our valuation discipline.

Our Investment Platform

Our team and investment philosophy are united by a common belief—that quality companies with sustainable growth at attractive valuations can drive above-average, long-term investment returns.

Learn More About Our Strategies

Our Expertise

$17.6B

In AUM

Actively managed strategies including global, US, international, China and EM

Investment professionals across six countries

Average tenure in years of portfolio managers

Average years of experience for research analysts

1935

Year we launched our first fund

Information as of December 31, 2020

Why Us?

Our investors seek the long-term risk and return characteristics that only a specialist, high conviction fundamental manager can provide.

Investing Like Owners, Not Traders

Long-term perspective united by a common philosophy
Low turnover
Fiduciary mindset

Seasoned Team With A Singular Focus

Time- and market-tested track records
Long-tenure with a collaborative culture
Interests aligned with clients’ objectives

Robust Investment Process

Deep fundamental research conducted globally
Rigorous and disciplined process enhances repeatability of results
Proprietary Confidence Quotient (CQ) framework

High-Conviction Portfolios

Concentrated portfolios
Belief that high-conviction portfolios will lead to greater alpha

Boutique With Backing

Time- and market-tested track records
Long-tenure with a collaborative culture
Interests aligned with clients’ objectives

The Three Pillars of Our Philosophy

We invest confidently at the intersection of sustainable growth, quality and reasonable valuations.

Quality

Our analysis of quality is forward-looking, focusing on qualitative attributes that lead to sustainable growth. The Confidence Quotient (CQ) is our proprietary analytical framework that quantifies how we think about quality.

Sustainable Growth

We believe that the power of long-term, compounding growth is underappreciated by the market and offers unrecognized investment opportunity. Our extended investment horizon is a crucial part of how we generate alpha.

Reasonable Valuation

We don’t chase growth at any price. We insist on a valuation that is justified by the firm’s growth potential. Our valuation discipline creates a growth margin of safety.

Quantifying Our Confidence

CQ provides structure to how our team evaluates quality, bringing rigor, measurability and consistency to the process of assessing five elements of quality that we score and track over time. Each element of CQ is backed by a detailed scorecard that provides a framework for determining our confidence in the company’s quality.

Research Process

Our disciplined, repeatable process focuses our attention on the most compelling opportunities.

Idea Generation

Drawing on the domain expertise of our analysts and input from portfolio managers, we identify companies for further analysis. Our quantitative scoring tool reflects our investment philosophy and augments our analysts’ judgment.

Fundamental Due Diligence

We seek to develop deep conviction in a select group of companies. In addition to our proprietary financial modeling, we use the Confidence Quotient to bring rigor to our assessment of quality.

Research Portfolio

We invest in our highest-conviction ideas through live research portfolios. These serve as powerful communication tools and capture the track records of each analyst, creating accountability that enhances the alignment of our interests with our clients' long-term objectives.

Portfolio Integration

From the research portfolios, our portfolio managers generate ideas for integration into the final portfolios. Our proprietary dashboards provide advanced analytics from our research team that guide the portfolio integration.

Our Team

Hiring a fundamental active manager involves a belief in the people as much as the process. Our impressive performance reflects the caliber and stability of our team—and our shared commitment to our fundamental, high-conviction investment philosophy.