Investment principles
Our management principles are based on a long-term view of wealth management. They are the foundation of our approach to all asset classes and guide each of our investment decisions.
Long-term view
Looking beyond market fluctuations
Predicting and capturing short-term market fluctuations is not efficient. Our approach is to consider each investment over a complete market cycle, giving our investment thesis time to play out and generate value.
This discipline sets us apart from a speculative approach based on market timing.
Strength of conviction
Active management independent of the indices
Equity market indices are constructed on the basis of stock market capitalisation, not on our criteria of quality, diversification and valuation. We develop our own convictions without reference to these indices.
Our approach is based on rigorous fundamental analysis: understanding business models, analysing competitive advantages and valuation. The portfolios are a concentration of our best investment convictions. This approach will inevitably give rise to deviations from the market benchmarks, which we measure and accept.
Emphasis on quality
Financial fundamentals and non-financial criteria
Our selections place particular emphasis on quality: solid financial fundamentals and a rigorous ESG profile.
Our long-term approach leads us to identify sustainable leaders and rule out fragile assets.
Risk awareness
Taking measured and acceptable risks
We identify and fully accept the risks we take. Our priority is to build resilient portfolios that can withstand downturns and make a difference over a full market cycle.
We control risk from two distinct standpoints. On the one hand, by remaining focused on our sphere of competence, we avoid unidentified risks. On the other hand, by paying close attention to valuation levels, we preserve upside potential while limiting downside risk.