Philosophy

We believe that markets are dynamic and efficient most of the time so we need to be innovative to capture opportunities arising from the investment landscape.

Financial markets are complex adaptive systems where price changes are the result of human behaviour, economic forces and the market itself.

We distinguish between those who are seeking an index-beating objective, those with a specific inflation-objective and those who prefer a peer driven approach.

Our processes reflect the appropriate philosophy for each product.

Our fiduciary duty to the management of clients' funds is taken very seriously.

Processes

Our processes use a blend of fundamental, technical and quantitative techniques.

The concept of "reversion to mean" plays an important role throughout our processes.

In our assessment of markets we look to extract the signal from the noise.

A strict discipline of scoring is used to avoid emotion.

This involves an assessment of the impact of market levels on potential future returns.

To assess the extent of information already in the price, we study price action with particular emphasis on relative price movements.

All of this leads to a level of conviction that is reflected in the investment positions we take in relevant portfolios.