Economic growth is the main driver of stock market performance. Our work involves analysing corporate performance and conservatively estimating the value of each business we invest in.
Our approach is based on in-depth company knowledge.
We use proprietary financial analysis and extra-financial analysis (ESG) models as part of our investment decision-making process.
Strategic analysis: identification of strengths and weaknesses, internal ESG rating
Accounting validation: in-depth review of financial statements
Financial analysis: growth profile and profitability analysis
Valuation: calculation of an intrinsic value that can be compared with current market prices
Risk management is integral to our investment process. As part of our long/short approach, our ex-ante risk analysis enables us to monitor portfolio exposure to various market factors. Our aim is to minimise unwanted bias (sector, geographic, currency, etc.). Besides, we maintain an exclusion list of securities with a high ESG risk. Effective ex-post risk management requires a disciplined approach that includes taking profits at target prices, promptly cutting loss-making positions, and analysing the worst performance detractors when drawdown is significant.