We believe strongly in taking a systematic approach using quantitative analysis grounded in market fundamentals to drive investment decisions. We feel investing intellectual capital is as critical as investing our financial capital. Intuition guides our problem solving; it does not impulsively dictate investment decisions.

Our organization is structured around markets, not functions. Our people holistically work across all aspects of the investment: strategy development, implementation, execution and portfolio development. Unlike traditional investment firms, we do not believe in fragmenting people into functional groups (e.g., quant shop, IT, and trading floor) because it hinders the flow of ideas. Of course, to do this requires exceptional people with well-rounded talents and interests.

We take a team approach. Individuals do not make decisions in a vacuum. Investment strategies are reviewed by the team and with management and consider past and potential future decisions across all markets. And although performance and contribution are reviewed at the individual level, it is the success of the firm as a whole that drives financial reward (e.g., we do not employ a star system with individuals financially tied to their individual "book").