We believe most investors are motivated by short-term outcomes, overweight recent information, and are uncomfortable holding unpopular views. Our investment philosophy is built to do the opposite.
We only pay for what is sustainable.
We look through fads and fashions
We aim to understand the risk of losing long-term capital
We own our business.
We co-invest in our funds.
We actively engage with companies.
We are always sceptical.
We are wary of popular opinion.
We do all our own research.
Value Investing: An Australian Perspective
The long-term returns from value investing are well documented and powerful. The past decade has tested the approach, prompting many investors to question its merits. Our three-part series considers value investing through an Australian lens — and argues why the principles still hold.
Value Investing: An Australian Perspective Part I
Value Investing: An Australian Perspective Part II
Value Investing: An Australian Perspective Part III
Deep consideration of governance, social and environmental issues - coupled with active ownership - enhances investment, business and community outcomes.
At Merlon we focus on assessing the sustainability of a company's free cash flow because we believe that is the basis on which companies should be valued.
At Merlon we are committed toESG integration and active ownership, including formal engagement with our portfolio companies.
“A culture of integrity, passion and purpose. Deep
client trust. Investment outcomes worth the trust.
A business built to outlast us.”
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