Allard Investment Fund A
ALD1539AU
Allard Investment Fund A ALD1539AU Strategy
BIG PICTURE: Asia focused with high confidence in China and India.
SECTOR: Identify industries with favorable operating environments and attractive long-term growth prospects.
COMPANY: At the heart of what we do is a methodical process of “bottom up” company investing. We look for companies with 1) Defined competitive advantage (scale, brand, quality, cost structure, technology); 2) Sound finances; 3) Strong management; 4) Robust corporate governance.
MEET, GREET, REPEAT: We are on-the-ground, visiting management, operations as well as competitors in the market. We have often met successive management teams.
CONVICTION: Derive a Conviction Ratio by factoring in 1) Management ability; 2) Governance structure; 3) Competitive position; 4) Importance of business to its community; 5) Capital structure; 6) Optionality.
VALUATION: We examine historical performance and apply judgment to a long term DCF and build a valuation range (not a single number).
PORTFOLIO: Position sized by combining discount to valuation and conviction ratio. Exposure limits apply. Typically 25-30 companies from an active universe of 75.
LONG TERM NOT STATIC: Dynamic and regular review. Continuous search for new opportunities.
The investment objective & strategy is a summary of the investment's principal strategy as written in the prospectus. This information is pulled from the most recent product disclosure document.
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CAC 40 | 7,723.47 | 27.20 | 0.35% |
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