Proven Investment Philosophy
(Never fully invest at all times)
Pheim adopts a predominantly value approach to investment. We seek out stocks that are cheap relative to their underlying value, in the expectation that their share prices will rise at some point to more accurately reflect their true worth. Generally, we seek companies that have focused management, enjoy high margins and earnings growth, and low debt equity gearing, and whose shares trade at low price-earnings ratio and/or low price-to-book ratio. At times we may apply a combination of value and growth strategies, or putting greater focus on growth stocks to take advantage of market and business cycles.
As Asian markets tend to display greater cyclicality and price volatility, we believe that an active asset allocation strategy can add value to our investors. Thus, we do not believe in being fully invested at all times. Rather, we seek to trim our equity exposure near market peaks in order to preserve capital, and to be fully invested near market troughs.
We strongly believe that strategic asset allocation that takes advantage of major market trends, supported by good stock picks are key to superior out-performance without taking on unduly high risks.