As a result, we believe in active investment management with a balanced focus on risk and reward. Our active management philosophy is underpinned by the premise that fundamentals and valuations converge over time.
Our investment philosophy is to buy quality businesses at our assessment of their intrinsic value. We invest in companies that offer the highest potential upside in absolute terms, over the long-term, constantly guided by our in-depth fundamental research. We determine the quality of the business by its ability to consistently generate shareholder wealth. We estimate the value of a business based on its sustainable growth through the cycle operating performance. As a consequence, we are patient long-term investors as we believe that share prices ultimately reflect the true economics of a business, and not its short term performance. This also means that we tend to favour businesses we understand, with good, long term economics.
Our fixed income philosophy is to assess the intrinsic value of an investment and invest when the market value of the security is less than its intrinsic value. We recognise that fixed income market valuations are driven by economic fundamentals over the long term.
However, in the short term, market prices vary considerably from fair value due to inefficiencies. Our process seeks to invest in the most attractive opportunities across a range of fixed income asset classes including bonds, money market, credit, preference shares and listed property. Risk diversification, yield enhancement and flexibility are achieved by investing in a wide range of fixed income sectors.
The implementation of our investment philosophy relies on what we consider to be the essential elements of consistent investment success:
Kgori Capital is a multi-disciplinary firm with a focus on equity, fixed income and multi-asset class mandates.
Capabilities include the following investment solutions: