Investment Process

NCFM's investment philosophy is to invest in great companies for the medium to long term whose businesses are operating in an increasingly sustainable manner.

We look for companies which are in a high growth phase and able to generate additional value over time via reinvestment in their core operations or businesses which are more mature and are trading at a significant discount to their real value.

We have a preference for stocks where management are correctly incentivised to think like owners or preferably are significant owners.

We believe in focussing our efforts and our portfolio on high conviction holdings that meet our investment criteria and prefer to hold onto investments for as long as possible. Why do we prefer long holding periods? Simply put it enables us to continue to deepen our knowledge of the stock and its sector and it lowers transaction costs and defers taxes.