Investors today are debating the benefits of active vs passive investing. We are advocates of active investing but we are biased given we run an active index-unaware investment strategy that has outperformed over the last 12 years.  

Why do we believe active works?

There are great investment opportunities open to active investors in the market, especially
at the small end.  

We continue to believe that traditional investment fundamentals such as earnings growth, free cash flow, balance sheet strength, and return on invested capital (ROIC) remain intrinsically important to long-term performance. Concentration risk, financial gearing and FUM size also need to be managed.  

As an active manager you don’t have to get…