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Our portfolio managers have a close relation to your investments, and are continuously pursuing investment cases that will deliver the best long term returns for you.

We will gather information about an entire firm, before investing your funds into it. This underscores our fundamental investment approach, where analysing the company's historic performance and organisational structure is key. We are convinced that such considerations are more important than running after short term market trends.

The five pillars of our investment philosophy:



1. Active management

Our goal is to deliver good risk-adjusted returns. For benchmarked funds this entails a goal of beating the benchmark, which in turn requires independent choices and a high active share.



2. Security focus

We focus on individual securities in both stock and bond selection. Each security is chosen on our conviction that this particular security will deliver strong returns over time, not because of factors like geography or industry.



3. Fundamental

We evaluate company specifics like business model, operations, profitability, management and strategic outlook. We prefer to buy reasonably priced securities, yielding a margin of safety, but will not let pricing multiples decide.



4. Concentrated

We limit risk by gaining thorough knowledge of the companies in which we are invested, and by owning companies that, in total, provide a sensible risk exposure. For fixed income, traditional diversification is more important.



5. Long-term perspective

We seek long-term returns. In the long run, a company's fundamental value and profitability are more important than the purchase price. We will consider selling, however, if the long-term potential is exhausted in the short run.