PI Investment Management Limited adopts a fundamental approach to investing with a focus on quality at attractive valuations. This investment process results in a global equities portfolio which exhibits the following characteristics:
- typically holds between 60 and 90 stocks
- has a mid- to large-cap bias (companies with a market cap in excess of US$2 billion in free-float)
- employs a bottom-up approach to stock selection - does not allocate top-down by country or sector
- is benchmark independent - does not take positions in companies on the basis of their weighting in the benchmark
- typically invests in high-quality companies with strong franchises
- has a bias toward companies with a high return on equity, clean balance sheet and a track record of earnings
- typically has a lower P/E than the market
- typically has a higher dividend yield than the market
- is expected to have lower volatility than the market over three to five years
- holds stocks on average for three-to-five years