The fund seeks attractive rate of return in the long term by investing in large-size companies in the United States.
The investment process is designed to identify franchise companies, or a business with a high and sustainable return on capital.
The research team believes franchise companies possess a unique and durable intangible asset such as a brand, license, patent, or distribution network that provides a relatively consistent demand for its product or service.
Next, the team narrows the investable universe to a list of franchise companies exhibiting characteristics such as domestic/international growth potential, low capital intensity, high free-cash generation, financial strength and capable management.
Generally, the portfolio is non-diversified and will be limited to 20 to 40 securities across a wide range of market capitalizations.
The fund has the flexibility to invest up to 20% of its net assets in foreign securities, which may include investments in emerging markets.
