Our Investment Philosophy And Style

We could describe our style in two words: "Quality Growth." It is our belief that value arises from the ability of an asset to generate income. Factors that result in increased income will create a corresponding increase in the asset's value. As a result, we systematically evaluate each prospective investment on a basis which takes into account the earnings growth and the value of earnings in relation to the current level and direction of interest rates. The anticipated level of interest rates has a significant influence on the price of stocks and other assets.

Our Approach to Investment

Investment management is a dynamic process and superior performance is most likely to be achieved through the application of a broad variety of strategies available in today's financial markets. It is no longer considered prudent to use a single direction buy and hold approach. Modern advances in financial engineering now make it possible to hedge away risk, increase returns, and profit during both rising and falling markets. Research has documented that equities must be bought when they are cheap and a long time horizon does not make them less risky.  We advocate reduced reliance upon the use of benchmarks which may operate to limit the selection of assets and expose the portfolio to excessive risk during periods when markets overshoot. A benchmark should closely relate to the objectives of the fund and should drive in the investment process to attainment of the investment objectives. Finally, investment policy should be sufficiently flexible to allow for changes in the economy and financial markets.

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