Ashton Global’s portfolio managers construct proprietary equity models using a combination of screening tools and qualitative assessments.
Diligent, Independent Research
Our portfolio managers perform rigorous due diligence related to the sourcing and sizing of every investment that is included in the portfolio.
Our process begins with screening methods to identify companies trading below book value with favorable fundamentals.
Many of the investments also have imbedded optionality that is difficult for most market participants to price.
Margin of Safety
We perform a bottoms-up scenario analysis to determine our estimates of intrinsic value. We require a margin of safety with each holding in the portfolio and companies are selected based on their relative discounts to our estimates of intrinsic value. The deep-value tilt to our investment strategy lowers portfolio volatility.
Our normal expected return from each investment is 50% (or more) over a two to three year timeframe. With roughly 30 to 40 securities in the portfolio, we size each investment to achieve an expected portfolio return of 20% annually. To learn more about our investment philosophy, click here.