Armytage is a Value manager with a fundamental investment approach designed to identify quality businesses trading at a considerable discount to valuation.
The process is guided by the following core beliefs:
- Equity markets are not perfectly efficient and the true value of a business is not always reflected in its share price;
- Undervalued stocks can be identified through active research and insightful analysis;
- Capital preservation is critical to wealth creation; and
- A relative-value approach to investing delivers a more consistent and superior risk-adjusted outcome than deep-value.
The companies that Armytage typically invests in are those with strong and reliable management, good profit and dividend growth expectations, reasonably predictable future profits and cash flows, and a very clear business model. In contrast, Armytage tends to avoid investing in businesses that lack pricing power in their relevant market, or those that are higher risk, early-stage research and development or exploration based companies.
A Four Stage Investment Process
Intensive bottom-up research is the cornerstone of the entire process supplemented by top-down economic and thematic views. The process is disciplined and consistently applied using a number of proprietary qualitative and quantitative techniques to ensure that targeted companies have been thoroughly scrutinised.
Read the Armytage Executive Team Profiles.
Please contact us if you would like to speak to a member of the Executive Team about our investment products and services.
Find out about our Australian Funds , SMA Portfolios, Individual Managed Accounts.