The Fund follows a value-oriented investment philosophy, which is to invest when there is a material gap between price and value and when the risk-reward is favourable.

The Manager believes in a simple, long term approach to investing in international equities. The focus is on making sensible financial decisions over long periods of time rather than attempting to outperform benchmarks in all time periods. We believe a long-term orientation leads to better long term results.

Strategy:

Invest globally in strong business models and assets with underappreciated potential, buy cheaply and hold on until the potential is realized.

Build the portfolio one stock at a time while managing risk exposures. Holding cash is the default option when suitable opportunities cannot be identified.

Flexibility to invest in bonds, futures, options, and engage in short selling when it makes economic sense, and to help manage portfolio risk.