Stewardship and engagement
We are not ESG evangelists but as fundamental long-term investors, we consider it a sensible part of company analysis to assess corporate governance, as well as the management of social and environmental issues. This forms a part of our risk assessment of business fundamentals. We believe that ignoring ESG factors may lead to an incomplete understanding of the risks to an investment case, and may consequently result in the wrong investment decisions.
Our investment strategies
The firm manages five types of equity portfolio: global (including EAFE), global equity income, global smaller companies, and emerging markets. The strategies share the same investment philosophy based on contrarian bottom up stock selection and patience.
The Oldfield Partners team
Our investment team brings together decades of collective experience in value investing, consistently applied during market cycles. Our culture is investment-led and summed up in a few words: collegiate, supportive, founded on intellectual curiosity and focussed on long term results.
The 1960s were characterised by a wave of increasing enthusiasm, rising equity ownership, and investing in concepts rather than fundamentals. The final wave of these crazy years branded the GoGo years, saw the emergence of ‘star’ fund managers, the conglomerate bubble and ultimately the Nifty Fifty.
At a time when stocks markets are setting new all-time records almost daily and speculation appears to be trumping investing, we think it is a good time to remind everyone of some timeless lessons from Benjamin Graham.