We believe, and our record demonstrates, that superior active management adds value, and that a thematic investment approach, combined with a disciplined, fundamental, bottom-up research process can generate superior risk-adjusted performance over time.
Furthermore, we believe that, at any one given time, there are multiple economic themes driving the market. We seek to own high-quality companies benefiting from more than one of these economic themes.
The investment process incorporates a top-down thematic approach combined with a disciplined, fundamental, bottom-up research. Thematic investing involves the initial determination of a number of compelling cyclical and secular investment themes. After these themes are identified, rigorous financial analysis of those companies participating in these themes is conducted at the individual company level.
Our portfolios display the following fundamental characteristics:
The Three C’s are dominant throughout our culture and investment process:
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