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Track Record and Investment Philosophy
Quest Management is the only Bangkok-based foreign fund manager with an
exclusive focus on Thai stocks. Unlike many portfolio managers, we take
concentrated positions. We typically have 50% to 60% of our portfolio in
only six to eight stocks. In total, we usually have no more than 30 stocks
in our portfolio. We believe that we can reduce the risk of taking these
concentrated positions by working closely with the management teams of the
companies in our portfolio. We have been managing a large portfolio of Thai
stocks since April 1990, with an IRR of 12.6% vs. the SET Index 1.5% over
the same time period.
Let’s look at Quest Management’s performance benchmarked against a number of
developed market indices:
Quest Track Record – 31.1 Years
Source: Quest Management
As you can see, we are not only doing better than the Morgan Stanley Asia ex
Japan Free Index and the S&P 500 index, we have also substantially passed
the Nasdaq.
So the question is, “how do we do this?” We simply drill into a select few
companies, and we attempt to get as close to having our hands on the
controls of those companies as we can.
We perform extensive research to find companies that are expected to
generate strong and consistent earnings growth. Then, we go out and meet the
management. Each year, we visit 100 to 200 companies.
At any given time, we seek to manage an investment portfolio comprised of
only the best companies trading at the lowest valuations.
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