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We look to invest in the winners that emerge as efficient and sustainable businesses.


Emerging markets are establishing sustainable growth rather than the old model of cheap labour, cheap land, pollute as much as you want. Now is the time for them to find their niche in the global supply chain.

Gary Greenberg

Lead Portfolio Manager

Experience & rigour

Manager Gary Greenberg has three decades of investment experience.

Truly active management

A concentrated portfolio with a high active share, invested long term.



Flexibility to invest across the market capitalisation spectrum.

From top to bottom

Bottom-up analysis finds quality companies trading at attractive valuations. Top-down framework identifies positive conditions for growth.

Quality & safety

Buying quality companies at a discount gives a margin of safety.

Integrated ESG

Environmental, social and governance factors are integrated into our analysis.

Risk management

Risk is assessed at a stock, sector and country level. The team also considers ESG elements as part of their assessment of risk. This analysis is supported by EOS, our in-house engagement service. The investment team’s analysis of risk and opportunities feeds into their allocation decisions, which are focused on risk-adjusted returns.

Vision for responsible long-term investing

Over the past decade, we have sought to act as responsible investors in emerging-market equities, and our goal is to create and manage portfolios of future-proof companies that can tackle sustainability challenges as they arise. We recognise that developing markets have a long way to go in this respect, but as responsible investors, we can contribute to their evolution over time. For insights into our vision for responsible long-term investing , please read our commentary


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Sales Contacts

Michael Kalenberg,
Director - Business Development, Institutional, Switzerland
Ksenia Kelly,
Director - Business Development, Financial Institutions, Switzerland