The trading commission when we buy and sell equities is borne by us, not our clients.
We receive no sell-side research.
We show every holding every month.
The only international equity investment held by Aoris staff is our International Fund.
We manage a single investment portfolio.
We are 100% owned by staff and directors.
We make no attempt to time markets. Our maximum cash weighting is 10%.
We do not actively manage currency exposure.
We own a maximum of 15 stocks.
Financials, resources, utilities, telcos and regulated healthcare, among others.
What matters to us is a company’s profitability; economic resilience; ability to repel competition; and durability through time.
We are long-only. We seek to own businesses that become more valuable over time. We do not buy ‘themes’ and we pay no attention to economic variables.
Our Owner’s Manual will help you understand in some detail how we are structured as a business and our reasoning behind key choices we have made.
It also explains how we analyse companies, make investment decisions and construct portfolios, and why we operate as investors the way we do.