Investment Approach

• Seeking long term capital appreciation by owning high quality businesses run by high quality management team that we believe can reliably compound earnings and generate cashflow over time.
• In Asia, we feel this type of company tends to exhibit three key characteristics:
  • Established companies with leading market positions.
  • Good management teams who care about shareholder returns.
  • Returns-focused capital allocation and prudent balance sheet management.
• Fundamental research is critical in helping us to identify these characteristics and seek to exploit market inefficiencies:
  • Focus on the long term. Be patient.
  • Gain a better understanding of the durability of a company’s prospects than the market.
  • More accurately assess a company’s intrinsic value than other market participants.