Our GEM focus team consists of a diverse set of highly experienced managers with clearly defined responsibilities. They work within a unique culture that maximises challenge and debate. These factors are vital to executing our strategy and delivering repeatable performance to investors. Rather than following the herd and being influenced by behavioural biases, our longer-term mindset allows us to focus on sustainable earnings and potentially capture sizeable, mispriced opportunities.
Our investment philosophy
We believe that:
Value style can generate superior long-term returns when applied to GEM strategies.
Behavioural biases influence both investor expectations and risk appetites.
Prices frequently move more than is justified due to shifts in investors’ risk perceptions. True underlying value is not always reflected in stock prices. By detaching ourselves emotionally and with rigorous analysis and discipline over a longer time frame, we can exploit these opportunities.
Our investment process
Our bottom-up, valuation-driven investment process has been designed to target mispriced equities in a disciplined and repeatable manner. It consists of four stages:
Idea generation: We use proprietary screens to identify valuation outliers and to systematically exploit behavioural mispricing. In identifying these outliers, we can focus our research resources on only the best ideas.
Fundamental analysis: We conduct extensive fundamental research to understand key drivers of sustainable earnings and valuations, as well as what is being priced by the market. Stocks with the highest shared team conviction and best upside potential make it to our conviction list.
Portfolio construction: We construct the portfolio with our highest conviction ideas while taking into account stock correlations and unintended risks. Stocks from this conviction list become the core positions in our GEM strategies.
Risk control and review: Ongoing review of the portfolio helps instil process integrity and sell discipline. Our robust risk framework is conducted by the GEM focus team, senior management and our independent risk oversight team.
For more information on how to invest in these strategies, contact us here.
Our team
Our team of experts is focused on delivering superior long-term outcomes to investors.
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Steven Gray, CFA, MBA
Portfolio Manager
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Sang Hoon Lee, CFA, MBA
Portfolio Manager
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Xiaochong Yao, CFA
Portfolio Manager
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Mandeep Sachdeva, CFA, MBA
Portfolio Manager
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Samuel Bentley, CFA
Client Portfolio Manager
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Navin Hingorani, CFA
Portfolio Manager
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Luiz Pinho
Portfolio Manager
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Manyun Tan
Portfolio Manager
