Milford Investment Process
Our investment selection process aims to identify Australasian investments which have prospects that have not been recognised by other investors in the market.
Milford conducts in-depth research into potential and current investments to understand the key drivers of performance and future prospects. We place significant importance on meeting companies and have a disciplined company visit programme. Milford is also able to leverage off the extensive knowledge and experience of its investment team.
Milford focuses on the following issues when considering existing and potential investments:
- Industry growth prospects and dynamics
- Competitive position and strategy
- Management and governance
- Financial prospects
- Valuation
Our investment analysis is supplemented by detailed economic analysis which focuses on following key economic indicators from New Zealand and overseas.
Milford uses external fund managers for investments outside of Australasia. In selecting these managers, Milford has a preference for managers that have similar characteristics to Milford, namely, that these managers are:
- Independent
- Specialist investment firms
- Employee owned
- Staffed by highly experienced investment professionals
- Operating with a like-minded investment philosophy and approach
The result of the investment analysis is typically discussed at our regular Investment Committee meetings. What we believe to be the best investment ideas are then included, where applicable, in each Fund by the portfolio manager responsible for that Fund.
