GMI Global Moat Investing

The objective is to obtain double digit returns over a 10 year period by investing in companies with a Moat (competitive advantage) at an attractive valuation. Investments will focus on large cap priamarely but small and mid-cap investments can and will be considered without exclusion of sectors. The focus will be mainly on companies in Europe and North-America, the turnover of the portfolio will be low, adjustments will be made according to valuations and positons should not exceed 15% of the portfolio. Defensive sectors can easely be overweight in the allocation. The cash component is an important factor and used for purchases during corrections and for opportunities that can arise. However there will be no market timing as such.