Ave Maria Mutual Fund: value, growth
Comparto uno de los fondos mas suigeneris que hay en el mercado norteamericano. Es parte de una gestora que tiene un comité de inversiones que sigue principios de la Iglesia para gestionar sus fondos.
Más allá de sus principios de inversión llama la atención sus comisiones 0,97% y la rentabilidad conseguida.
Su filosofía de inversión es esta:
- Emphasize companies with superior business characteristics
- Utilize independent analysis and proprietary screening supplemented by Wall Street research
- Purchase shares of what we believe are financially sound companies when they are out of favor and attractively priced
- Buy across market capitalizations if price represents a significant discount to our intrinsic value appraisal
- Contrarian discipline may reduce the risk of loss and enhance returns
- Sell stocks when they no longer meet our standards
Superior long-term growth in earnings, cash flow and dividends can come only from companies compounding internally generated returns at superior rates. Our stock selection process begins in the same manner, looking for companies that generate returns on capital at above average rates. This means seeking high-quality companies with the characteristics below:
STRONG BUSINESS MODEL
- Provides ability to generate returns over and above their cost of capital
SUSTAINABLE ADVANTAGES (Moat Effect)
- Patents
- Network effect
- High cost of customer shift
- Strong consumer brand image
- Regulatory hurdles to new entrants
STRONG ORGANIC GROWTH
- Financial power to finance their own growth
MANAGEMENT WITH CAPITAL ALLOCATION SKILLS
- Management is a good steward of owners’ capital
