Asset Management

Investment Philosophy

Driven by an entrepreneurial spirit, we are constantly looking for innovative investment opportunities.

In an ever-changing environment, our strategy is to invest with a long-term view and maintain our course despite temporary turbulence. Our investment philosophy is based on a rigorous and transparent process by which we identify high quality companies enjoying sustainable competitive advantages in their respective fields.

We are convinced that a diversified portfolio of companies, exposed to secular themes and capable of delivering sustainable earnings growth and superior returns, will outperform the market in the long-term.

Our portfolios are built to benefit from three major fundamental transformations that will dominate the next decade:

Digitalisation

Technology continues to create a “digital disruption” ecosystem through ubiquitous connectivity and the rise of big data, artificial intelligence and automation. This trend is generating profound transformations across all sectors.

Demographic changes

The ageing of the population, the growing importance of the 4.4 billion individuals represented by generations Y (known as “Millenials”) and Z, as well as the rise of the middle classes in emerging countries, will have a major and profound impact on our economies.

Climatic risks

Climate change is accelerating the development and implementation of more efficient and clean technologies and is triggering a revolution in the energy ecosystem.

The companies in our portfolios must not only be exposed to these secular trends, but also meet and offer the following fundamental criteria:

Sustainable, competitive advantage
Attractive revenue and earnings growth prospects
Best-in-class management and sound governance
Superior and stable profitability throughout the cycle
Balance sheet adapted to the business model

We are convinced that the recent awareness of environmental, social and governance challenges is more than a fad: we have been actively preparing for this since 2006, the year in which we launched our “Buy and Care” strategy. Since its launch, we have conducted more than 850 engagement meetings aimed at making companies more transparent and pro-active on sustainability related issues. These meetings allow us to broaden our understanding of the companies in which we invest, considering them also from a non-financial perspective. Our goal is to contribute to an additional, measurable, social and environmental impact as an integral part of our financial performance.