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 several types of equity portfolio: global (including EAFE and International All Cap Select Equities), 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.
In the past, semiconductor names have been relative wall flowers when compared to their far more public-facing downstream tech peers. These firms have been viewed as ‘pick-and-shovel’ plays to the more glamorous gold rush in online and software activity. This however has now changed.
A message from the client relations team: after 70 editions of writing the quarterly commentary, our previous author has hung up his pen, and we are embracing the chance for change.
Benjamin Graham, the father of Value investing, described the Intelligent Investor as a Business Owner. Graham advocated for exercising equal care and judgement in being a shareholder as becoming a shareholder. Here we explore what that means for a Value manager today.