Our investment philosophy

Our Australian equities investment capability is the foundation on which Maple-Brown Abbott was initially established in 1984. We have successfully applied this process to our Asian equity investment capability since 2002. Our investment philosophy is based on the following key principles:

We are value investors

We believe stock valuations are driven by the financial performance of the underlying business. By always taking a long-term view, we can use periods of short-term pessimism to our advantage and buy good businesses at attractive prices.

We are bottom-up stock pickers

We use our in-depth internal research process to identify those companies that we believe offer the best long-term risk/return opportunity in the market.

We invest for the long-term

We look to hold a stock for at least four years, as we believe this allows the company’s true intrinsic value to be realised based on its underlying earnings, cash flows and dividends.

We are often contrarian

With share prices representing the market consensus, we will often move early and against the crowd to invest in undervalued companies that we believe will generate strong investment performance.

Asia equities
Investment philosophy and process


Our investment approach

As bottom-up stock pickers, we place a strong emphasis on fundamental company research. We start by using quantitative value screens to rank our Asia ex-Japan investment universe of around 650 companies from ‘cheap’ to ‘expensive’.

Our experienced team then conducts in-depth analysis and prepares estimates on companies, including meetings with company management. This research identifies those stocks that are currently trading at an attractive discount to their true underlying value. Each analyst then presents their investment thesis to our investment committee, along with their recommendation on why the stock should be included in our portfolios.

Our experienced team then conducts in-depth analysis and prepares estimates on companies, including meetings with company management. This research identifies those stocks that are currently trading at an attractive discount to their true underlying value. Each analyst then presents their investment thesis to our investment committee, along with their recommendation on why the stock should be included in our portfolios.

Every recommendation is supported by a detailed research report, expected four-year return and detailed valuation models forecasting the company’s future profit and loss, balance sheet and cash flow statements.

If a stock is approved by our investment committee, it is then eligible to be included in client portfolios.

Our Asia ex-Japan equity portfolios are made up of those stocks in which our investment team has the highest conviction, subject to our formal risk guidelines. The portfolios generally holds between 40-60 stocks and investments have historically been held for between three and six years on average.


This information has not been prepared specifically for Australian investors. It:

  • may contain references to dollar amounts which are not Australian dollars;
  • may contain financial information which is not prepared in accordance with Australian law or practices;
  • may not address risks associated with investment in foreign currency denominated investments; and
  • does not address Australian tax issues.