INVESTMENT PHILOSOPHY

We follow strict bottom-up approach by investing in high quality, publicly quoted companies that have high returns on invested capital, reinvestment opportunities at high rates, strong balance sheet and a strong free cash flow generation. We invest mainly in small-cap and mid-cap equities. We feel there are far more opportunities for individual investors in this space compared to the large-cap stocks as many big institutional investors tend to overlook this universe of stocks. We do not believe in predicting economic cycles, share price movements nor make any attempt to control volatility relative to any benchmark. We strongly believe that quality companies with moat and significant barriers to entry will outperform the benchmark and other asset classes over the longer term. In today’s world when many are looking for instant gratification, we pursue a buy and hold strategy with strong capital preservation bias that is capable of compounding in value indefinitely.