International/Global
Our international strategies employ a fundamental, bottoms-up value approach to investing. We focus on high-quality, growing businesses that will enable us to manage risk and identify the most promising opportunities. We seek underappreciated and high-quality growth companies with:
- Sustainable competitive advantages (economic moats)
- High or improving return on capital that exceeds the cost of capital
- Strong balance sheets
- Capable management
We seek to minimize risk via (1) a long-term oriented, private-market approach to publicly traded companies and (2) disciplined buy and sell criteria.
Emerging Markets
Our emerging markets strategies combine disciplined screening with original, fundamental research in a “Thematic Growth” philosophy: Our proprietary databases help us identify promising themes such as favorable long-term demographic trends or near-term benefits resulting from changes in commodities pricing, interest rates, exchange rates, or regulation. Through original, fundamental research, we then seek high-quality growth companies that fit the investment themes we have developed and that, in our view, are:
- Undervalued relative to their estimated earnings and cash-flow growth; and
- Poised to deliver excess returns
We seek to minimize risk through various means, including diversification.
