Investment approach The portfolio managers complete deep, fundamental, bottom-up research to uncover companies that they believe are leaders within their industry or country, as demonstrated by an ability to deliver high relative return on invested capital over time. We believe that high returns on capital can typically be attributable to, among other things, a strong competitive position and defensible barriers to entry. We use a research-intensive approach to building a concentrated portfolio of typically 30-40 companies. Our strategy benefits from experienced portfolio managers with success investing globally and who share a belief that low-turnover, concentrated portfolios derived from sound fundamental research can generate attractive outperformance over the long term. Fund profile Questions? Please send us an email at [email protected].