The process that we use to implement our investment philosophy is characterized by:
- Portfolio managers that are generalists concentrating their research efforts on 325 "watch list" companies around the world
- Intensive "on the ground" fundamental research focused on identifying catalysts for margin expansion, franchise value, absolute P/E beyond typical analysts horizons and industry structure
- Identification of secular trends that drive margin expansion and a deep knowledge of the regional markets
- Investing in businesses only when we thoroughly understand them
- A focus on 60 80 long term holdings in the portfolio and selling when a better opportunity is identified, full valuation is achieved or fundamentals significantly change