With over 30 years of experience managing equity investments, our competitive advantage is a time-tested investment framework underpinned by a quality-biased philosophy, a continuously evolving process, a disciplined risk management culture, and a deep commitment to client services.

We believe that a company’s stock reacts positively to growth in earnings and cash flow, and that indicators of sustainable earnings growth appear at the company level before they are recognized in the stock price. We focus on stocks that are showing business momentum improvement and where the market valuation has not fully reflected that into the stock price.

Investment Process:

We use a ranking system based on earnings-per-share growth, positive earnings revisions, return on invested capital and valuation to narrow the extensive company universe to a smaller list of companies that are worthy of careful consideration.

After our process identifies a stock of interest, the fundamental research team undertakes an in-depth fundamental analysis. This research looks to identify the drivers of the company’s strong earnings growth, analyze its competitive advantages and validate our future earnings-growth assumptions.

Our screening not only highlights potential buy candidates, but also sell candidates. When the stock displays characteristics no longer consistent with our style, it is reviewed by the investment professional with the appropriate sector coverage. We base our sell decisions on negative changes to the ranking of the stock, a deterioration of the fundamental or qualitative reasons for the original purchase, or to enhance the portfolio with a superior investment idea.