Investment Approach

• Fundamental research is critical to successfully identify and assess long-term investment opportunities. The portfolio results from our considerable equity research resources with over 20 European analysts seeking insights into the industries and companies that they cover.
• We look to discover quality businesses that may benefit from change, either as a result of being on what we believe to be the "right side" of change, or from idiosyncratic change, and where we have an insight on key long-term drivers for the stock.
• Valuation needs to present an attractive risk/reward profile, and we follow this overall approach across the market cycle and across style and market cap boundaries.
• ESG considerations are embedded across our investment process, particularly as the can be a key indicator of the durability of a business and a source of change across many industries.
• Risk management is integral to the portfolio construction process, and the portfolio results from close collaboration with our Risk, Quantitative and ESG teams as well as other investment personnel.