How we manage capital
Our client relationships
We value long term relationships with clients who understand what we do. We need the time and freedom to look for investments that we perceive make sense on at least a five-year view. Our style of investment management is not appropriate for those concerned with outperforming the stock market over relatively short periods of time or owning a portfolio that reflects the sectoral breakdown of major indices.
We are not salesmen. We also prefer to leave descriptions such as ‘financial planner’ or ‘wealth manager’ to others. We are managers of capital and it is not our role to resort to flimflam to deliver an upbeat message, come what may. Our role is to do our level best to deliver pleasing long-term returns that, crucially, have been garnered without the assumption of excessive degrees of risk. Unlike many investment managers, we set no targets for revenue generation.
“Capital should never be automatically invested; cash should be regarded as dry ammunition to be deployed on worthwhile ideas at sensible prices.”