Investment Philosophy

Value as our Foundation

Our mission is to generate quality risk-adjusted returns over the long term, with focus on liquidity, volatility and risk management. A variable net strategy strikes an ideal balance between generating alpha and capturing cheap beta along the way.
 
Value is the foundation of our investment philosophy. We take the approach of a patient fisherman, with our target prey being mispricing in intrinsic value. We apply our proprietary fundamental framework to identify these opportunities, with focus on cash flows, market-implied expectations and margin of safety. We believe our unique experiences across cycles and understanding of China is the key to long term value creation to our investors.
 

Discipline and Risk Management

Discipline is ingrained in our idea generation and portfolio management processes. We understand that it is not possible to avoid risk, but we make sure we are paid properly to take it. Risks are reviewed centrally under an institutionalized structure with clear accountability. Continuous stress tests and scenario analysis on both bottom-up and top-down basis.
 

Our Mission

Our mission is to achieve “Quality” returns over the long term. “Quality” to us means a focus on conviction and discipline rather than mindlessly chasing returns. We aspire to do so in a way that makes our partners proud, as we build a unique investment platform for global investors.