We in Setanta do not believe the market is efficient.  Our aim is to purchase and own assets at a price below a reasonable assessment of their worth. This is where we focus our resources. Our process is akin to assessing a part ownership of a business rather than trading a security. This assessment of value must always encompass a thorough understanding of where this value is derived.  We have a long term investment horizon and risk management is always central. We regard risk as the potential for permanent impairment of value.  Integrity is a key tenet of our professional DNA and we embrace a culture of continued learning. 

Investment Principles

• We do not believe the market is efficient.
• We aim to make investments at a price below our assessment of intrinsic value.
• We make an investment in a business rather than trade securities. 
• We believe risk is the possibility of permanent impairment of value.
• We make investments for the long term.
• We invest where we see value and are not afraid to be contrarian and swim against the tide.
• We don’t make forecasts, we consider scenarios.
• We demand financial strength from the companies we invest in.
• We will act with integrity and communicate with our clients in a manner representative of our investment style.  
• We have the humility to know we make mistakes and embrace the need to continue learning through both experience and study.