How we invest


Pie's investment process has four key stages.

Identify

Identify

We look for companies with:

  • High quality management
  • Competitive advantage
  • Profit and revenue growth
  • Industry tailwinds
  • Low gearing ratios
  • Strong cash conversions
  • Large reinvestment opportunities
Research

Research

We value companies on:

  • Conducting scenario analysis
  • Forecasting financials
  • Assessing business quality, checklist score and liquidity
  • Comparing discount/reasonable valuations with peers and history
  • Establishing price targets and ranking
  • Channel checks with competitors, suppliers, customers and other stakeholders
Construct

Construct

We build a portfolio:

  • Weighted by determining conviction levels and expected return
  • With no limit on cash position
  • Including active hedging of currency and market risk
Review

Review

We continuously evaluate by:

  • Reviewing quality of business and implications of recent announcements
  • Calculating returns and portfolio weightings
  • Maintaining comprehensive portfolio dashboards
  • Fortnightly Investment Committee meetings and weekly Investment Team meetings
  • Actively monitoring industry developments