Global equities

Our aim is to identify stocks that we believe have superior shareholder Wealth Creation potential, at attractive prices. This is based on our view that shareholder Wealth Creation skews investor outcomes positively. To achieve this, we deploy a robust and repeatable process designed around investment advantages.

We use custom tools, technology and data to identify neglected opportunities and manage the complexity of global equity markets.

We believe that business fundamentals are the long-term drivers of stock prices. However, we recognise that different fundamentals matter at different points of a company’s life, and that these are often unappreciated or misunderstood by the market.

The Corporate Life Cycle

We consider that corporate returns on productive capital and growth tend to progress along a Life Cycle. Every company can be located economically in one of five Life Cycle categories, from early-stage Accelerators and growth Compounders to Slowing & Maturing, Mature and Turnaround companies.

The five categories of the Life Cycle are illustrated below, with each one dictating the path of analysis in our investment process.

Importantly, while Wealth Creation can occur across the entire Corporate Life Cycle, the drivers of success are very different depending on what stage of the Life Cycle the company is in.

Source: RLAM, for illustrative purposes only