All our investment decisions are based on a common investment philosophy:
• Every asset has a "fair value" based on its longer term fundamentals.
• Prices fluctuate about these fair values.
• We can identify cheap assets by comparing current prices with fair values.
• Bottom-up stock selection within sectors, globally.
The Global Focus strategy investment process focuses on bottom-up stock selection within each industry/sector based on fundamental research. This approach leverages our extensive research network, on a global sector basis, to identify "focus" stocks: stocks with a strong valuation signal, significant profit growth or recovery potential and an identifiable catalyst to unlock that potential. The regional or country allocation of the strategy is therefore a result of the stock selection process.
The most distinctive element in our stock selection process is our commitment to proprietary fundamental research, which is the primary driving force behind the value we add.