The Global All Cap Value strategy’s objective is to follows a value investing strategy, which involves investing in companies which have a market price less than their intrinsic value. The strategy is limited to investing in equities and equity-like instruments. Additional to the investment restrictions under the UCITS regulations, we are mindful of excessive exposure to one country or sector. As with all Oldfield Partners strategies, Global All Cap Value delivers a highly active but diversified portfolio, driven by a bottom-up investment philosophy.

In addition to managing a portfolio which is good value we run a concentrated portfolio (typically 16-40 stocks), meaning this is a portfolio of high conviction ideas, each of which is well understood by the portfolio managers. An investor should want our best ideas; not our next best. We are contrarian in our thinking, looking to buy unloved and out of favour companies. Areas of poor sentiment are where we find ‘bargains’ priced at material discounts to our view of intrinsic worth. Finally, and critically, we invest with a long-term mind-set. Our average holding period is 4-5 years.