Clucasgray (Pty)

INTRODUCTION ClucasGray is a privately-owned, investment management boutique. We are investment led, comprising a highly experienced and award-winning team with diverse strengths and backgrounds. Our objective is to create long-term real wealth for our clients. Investing is all that we do and we do it with passion, dedication and vision. OUR INVESTMENT APPROACH Our investment approach is centered on bottom-up fundamental company analysis. We believe that fundamental analysis allows us to understand the intrinsic value and key drivers of a business. We are long-term investors who run focused, high-conviction portfolios, typically owning less than 30 shares. We search for high quality, cash generative companies with strong balance sheets and earnings predictability. We believe inefficient markets create opportunities in mispriced assets. We believe that the key drivers of a share price are: • Real growth in earnings, dividends and cash flows; and • A re-rating or change in the PE multiple. We use macroeconomic overlays to supplement our bottom-up fundamental analysis. Macroeconomic analysis considers key drivers within industries and asset classes, which enables us to identify both investment risks and opportunities. ASSET MANAGEMENT Our asset management offering spans three domestic unit trust funds, including a SA General Equity fund, Reg 28-compliant SA Multi-Asset High Equity fund and a Non-Top 40 SA Multi-Asset Flexible fund (small- and mid-cap fund). We also manage a Global Equity fund out of London. PRIVATE CLIENTS At ClucasGray, we provide a truly bespoke investment offering and highly-personalised level of service. We aim to ensure that each individual client’s risk profile is encapsulated in a customised mandate, overseen by two senior portfolio managers to ensure continuity of service and to gain a detailed understanding of each client’s investment and lifestyle objectives.