This was our first introduction to the team. The investment philosophy is the same across all strategies. They are looking for companies with a long history of persistent high returns, those companies which are cheap vs the market, and those companies with a moderate-income yield (between 2.5% and 2.8%).
This reduces the investible universe from 7,000 companies to 300 and from that they currently hold 36 companies. These are equally weighted with an upper waiting of 4% and lower weighting of 2%. They rebalance to bring in line with equal weightings and when topping up a stock they review whether they wish to continue holding…read more