We offer our clients a choice of investment styles. These are:

GROWTH

The emphasis is on companies that are expected to have above average growth in earnings, return on equity and so on. Often in bullish conditions these stocks attract a price premium over the general market for extended periods. They can be weaker performers in bearish conditions.

VALUE

The emphasis is on companies that display the characteristics of value stocks (e.g. relatively high dividend yields, low price to book values and low price to projected earnings).   Usually in bullish conditions these stocks are priced at discount to market averages. They can be relatively good performers, in bear market conditions and when investors re-rate value and cyclical companies forcing prices higher.

STYLE NEUTRAL

We manage the portfolio with no preference for any particular investment style. Depending on expected market conditions, we will skew the portfolio towards the investment style we anticipate will do well in the short term, say towards value stocks. If we think market conditions are going to change, then we will skew the portfolio away from value toward say growth or cyclical or income stocks.
 

ABSOLUTE RETURN

Here the strong focus on investment returns. Portfolio constructed without regard to the composition of a market index. Main focus is on return. We will skew the portfolio towards the investment style we anticipate will do well in the short term and the portfolio is likely to hold less than 30 companies (i.e. is more concentrated). (We do not short sell securities).

INCOME

Emphasis is on investments that produce above average income including income from property trusts and franked dividends. These investments tend not to produce strong capital growth.
 

FALLEN ANGELS

Emphasis is on quality companies that have experienced a decline in market value often due to internal  circumstances such as poor management or external factors like an economic downturn or falling resource prices. But they have potential to recover. These companies may under perform until their circumstances change or value is recognised by the market. The portfolio is likely to hold less than 20 companies (i.e. is more concentrated).