Past performance is not a reliable indicator of future performance.
The Asia Opportunities Equity Composite seeks long-term capital appreciation primarily through investment in companies in Asia, excluding Japan, with faster earnings growth and reasonable valuation levels relative to market/sector averages.
- Seeking long term capital appreciation to come from owning high quality businesses that will reliably compound earnings cash flow generation over time.
- In Asia, 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 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.
- Typically 40-70 stock portfolio
- Individual positions typically range from 0.50% to 6.00%.
- Country and sector weightings a residual of stock selection.
- Cash position typically less than 5%.
|3 MonthsData as of 30-Sep-2021||Year to DateData as of 30-Sep-2021|
|Composite Gross %||-9.53%||-3.41%|
|Composite Net %||-9.69%||-3.92%|
|Excess Return (Gross) %||-0.20%||0.12%|