Business models have changed across an array of industries, meaning traditional fundamental metrics are outdated and no longer capture specific factors as they should. We research the companies in the industries holistically to understand it fully and to do that well we need to research a growth stock, a value stock, a quality stock, and a momentum stock – we need to research the whole value chain. Importantly, we need to be able to do this without prejudice.

This provides us access to a broader opportunity set for stock selection.

By being prepared to work across regional and sectoral silos – and even asset classes where appropriate – a research and idea generation advantage can be gleaned.

Approaching research this way, we not only understand the company itself but also its value chain, peers, customers, suppliers and most importantly the Environmental, Social and Governance values the companies operate by.