About GVI > Investment ProcessInvestment Process
Aubrey Capital Management (Aubrey) acts in alliance with GVI as the sub-investment manager for the GVI funds.
Aubrey Capital Management structure their portfolios with the aim of delivering better long term performance than the benchmark and peer group.
We believe long term wealth creation in the stock market is absolutely correlated with long term asset formation in the companies which comprise it. So, in seeking to deliver a real performance edge, we have focused the portfolio on the highest areas of growth.
Aubrey consistently invests in the highest areas of economic growth by country, and by sector. They use well tried and tested thematic growth drivers to identify these, and choose only companies that Aubrey consider can deliver the very highest levels of growth generated from and paid for by internal resources. Aubrey undertakes extensive research on their focus list of companies meeting management, obtaining references, analyzing the track record and doing a comprehensive financial analysis which emphasizes in particular the cash flow characteristics of the business, to ensure that we understand the risks associated with the investment. It is from our focus list that we select our best 40-50 ideas for the Funds.
Foreign Currency Management
Aubrey acts as a sub-investment manager for both hedged and un-hedged Funds. The hedged fund is fully hedged back into $AUD and seeks to neutralise the vagaries of FX fluctuations. Aubrey does not actively trade currency to enhance returns as we are stock pickers, not currency traders. The un-hedged fund is open to AUD fluctuations against major currencies which can have both a positive and negative effect on the value of foreign assets.