Focus On Change

Darnell Financial Investment success is based on a talented team guided by a robust and repeatable investment philosophy and process.

The investment process combines asset allocation, stock selection, portfolio construction, risk management and dealing. It is research-intensive, and is built around Focus On Change - early identification of changes in the key drivers affecting markets and the factors likely to cause a shift in the investment environment.

Our Focus On Change investment philosophy seeks to identify and understand the most important factors that drive the market price of an investment and the dynamics behind these drivers. This focus is supplemented by analysis of what is priced into an investment - what are the key drivers of the price and what expectations for these drivers are currently 'priced in'. We then focus on what's changing and whether these changes will lead to revised market expectations and hence to a revised share price. Clearly our best opportunities come in the investments where we not only have the deepest insights but also have the greatest conviction that market expectations are going to change.

Our Focus On Change philosophy recognises that different factors drive markets at different times in the investment cycle. It is not inherently growth or value biased or necessarily momentum driven. This means that we have an opportunity to outperform throughout the cycle.

To achieve rapid and effective communication, we use a Common Investment Language, when discussing all our investment insights.