Our investment philosophy is grounded in the belief that while markets are efficient in the long term, there exist inefficiencies in the short to medium term that can be exploited. We believe that earnings growth is the long-term driver of stock price performance but in order to achieve optimal performance, it is important not to over-pay for such growth. We therefore aim to identify stocks that have the potential to generate superior and sustainable earnings growth over the medium to long term and are reasonably priced for that growth. We believe that this is best accomplished through a disciplined investment approach, grounded in comprehensive bottom-up research and deep understanding of the companies and markets we invest in.

Investment philosophy is that markets are inefficient, with inefficiencies existing at country, sector and security levels. This creates opportunities to add value through active management. We believe that a diversity of investment perspectives helps to achieve superior risk-adjusted returns over the long term. In addition, we believe in adopting a disciplined investment approach, grounded in comprehensive research and understanding of the markets that we invest in.

Strategy & Currency is tasked to stay on top of global macro and market trends, and to assess implications for policies and investment. Our investment framework emphasizes fundamentals, valuations and technicals. We assess macro and market developments, and incorporate market expectations and investor positioning. We then evaluate risk versus return trade-offs. Given these assessments, we formulate Strategic Asset Allocation strategy.