1.

Our Clients Come First

A significant portion of our assets under management is attributable to clients we have advised for over 20 years. While we seek to provide superior risk-adjusted long-term returns, client service is of paramount importance to us.

2.

We Value Intellectual Honesty & Independent Thinking

We collaborate with our clients to understand their needs, building a custom investment policy and investing accordingly.

3.

Commitment to Long-term Performance

From a value-orientation, we invest by balancing opportunity and an intelligent approach to risk management.

4.

We Respect the Lessons of History

With 40 years of experience, we understand the underlying dynamics of different market periods and the negative and positive consequences they may have.

5.

We Focus on Careful Manager Selection

Strength lies in informed perseverance — staying the course with managers carefully chosen and continually evaluated. We are strong in our convictions. Starting from a global macro perspective, we emphasize the soundness of the decision-making process rather than short-term outcomes. We believe a distinctive approach to investing results from consistently implementing such a process.

6.

We Collaborate in All We Do

Active debate is essential to our process, both in identifying opportunity and addressing adverse conditions.