Developed Markets

Unique investment philosophy

 

Profitability focuses stock selection

 

Securities expected to generate high/improving economic
profitability relative to the market should outperform.

Liquidity analysis

 

Money supply leads economy, but excess money moves asset
markets earlier i.e. Money Moves Markets (Liquidity Theory of Asset Prices)

Peer review ensures discipline

 

Revalidate, test conviction continuously; ensure tight capital
discipline (Behavioral Finance Theory)

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Invest in companies that have:

 

 

Stable revenue

High return on invested capital (ROIC) across business cycle

Do not require leverage to generate returns

Strong brand and/or intellectual property

Resilience to change and technological innovation

Opportunities to deploy capital to grow

Organic growth rather than via large acquisitions

Low threat of regulatory risk

Simple and easy to understand business model

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Investment process –
economic analysis

Fundamental macroeconomic liquidity analysis provides the framework for
portfolio construction

Interpreting liquidity trends is paramount to country, sector and thematic views

Liquidity analysis dictates risk appetite at regional, sector and total portfolio level

NS Partners Global Equity

A portfolio of global equities measured against the MSCI World Net Index.

NS Partners International Equity

A portfolio of non-North American equities measured against the MSCI EAFE Net Index.

NS Partners International Equity Focused

A portfolio of non-North American equities measured against the MSCI EAFE Net Index.

NS Partners ACWI ex-US Focused Equity

A broad portfolio of non-US equities including exposure to emerging markets, measured against the MSCI ACWI ex-US Net Index.

NS Partners European Equity

A portfolio of equities in Europe (including or excluding the UK) measured against the MSCI Europe Net Index.

Insights