The TM CRUX UK Fund employs a rigorous screening process that asks three key questions:
Do we understand the business?
Is the business comfortably economic over the cycle?
Do we trust the management?
Companies that pass all three stages of the screen are then put through the same valuation process that looks at their characteristic and cash generation through the business cycle which tends to lead to the selection of stocks with characteristics that include: low capital intensity, consumer brands, strong balance sheets, barriers to entry and durability. This rigorous valuation enables a long-term, low-turnover approach that looks beyond short-term volatility to deliver long-term dividend and capital growth.