Our investment philosophy & process

We believe in managing risk by maintaining broad diversification in our portfolios both at stock and asset level. By design our portfolios are more diverse than many of our peers thereby lowering portfolio risk without impairing performance.

We know our limitations and only invest directly in areas where we are close to the market and have significant expertise; this is largely confined to UK equities and bonds. We delegate individual stock picking and trading in other asset classes to carefully chosen third party managers.

Starting from an informed overview of global markets and the current position in the economic cycle we aim to be always moving into areas that are coming into favour with investors and reducing investment in areas that are beginning to look expensive when compared with the expected return.

Unlike many of our competitors we have particular expertise and access to the “wholesale markets”. The attractions of buying stock at a discount to the prevailing market price when additional capital is raised, or when a large stockholder sells shares for reasons that are unconnected with the fortunes of the company are plain to see.

Our access to the wholesale markets provide our clients with direct access to the growing number of Initial Public Offerings (IPO’s) that are not marketed to the general public.

We are discerning and disciplined investors and only invest in listed companies that have a viable business plan and a record of cash generation. We are valuation aware and will not overpay for growth or get sucked in to cheap stocks with low growth prospects.

When investing in third party funds we favour managers with consistently good performance and adherence to a well articulated investment approach. To reduce risk portfolios will have exposure to managers with a range of investment styles, which will be varied according to our expectations for markets as a whole.

Our process is designed to ensure that investment decisions can be implemented across all investment portfolios with similar objectives in a consistent and structured manner. In short we want all client portfolios to benefit from our best ideas rather than just a select few.


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