




Investors long-term success
INVESTORS'
LONG-TERM
SUCCESS
LONG-TERM
SUCCESS
Our Primary Objective
Intelligent risk management
INTELLIGENT
RISK
MANAGEMENT
RISK
MANAGEMENT
A Fundamental Investing Principle
Focused Portfolio
FOCUSED
PORTFOLIO
PORTFOLIO
Individually
Selected Stocks
Experienced Team
EXPERIENCED
TEAMS
TEAMS
Continuity of Process
Low turnover approach
LOW TURNOVER
APPROACH
APPROACH
Tax Efficient and
Reduced Cost