Head of ILTU describes the investment philosophy and process.
The Martin Currie International Long-Term Unconstrained (ILTU) strategy is focused on the delivery of sustained value creation to our investors, aiming to invest in companies with high and sustainable return on invested capital (ROIC) in excess of the weighted average cost of capital (WACC).
We focus on a company’s cashflow and assets not earnings as we believe these are greater long-term indicators of corporate sustainability. The research process uses our proprietary accounting diagnostic analysis and incorporates a significant emphasis on governance to understand the decision-making processes inside a company.
We aim to make a long-term capital commitment, minimising costs and maximising the positive effect of compounding returns.