Mayar Responsible
Saudi Equity Strategy

Strategy Overview

We invest in great businesses across the Saudi market, hold them for the long term, and pay reasonable prices to do it. We apply the same Ethical Business-Owner Approach™ that has guided our investing for over twenty-five years.

The portfolio holds 20 to 30 positions and is agnostic to benchmark, industry, and market cap. We measure ourselves against the MSCI Saudi Arabia IMI 10/40 Index (USD). We don't let it shape what we own.

What We Invest In

We invest across the Saudi market, with no constraints on sector or market capitalization. The businesses we own have durable economic moats, predictable economics, strong balance sheets, and capable, aligned management teams. We pay reasonable prices for them, giving us a margin of safety, and we continue to own them as long as those conditions are satisfied.

Our holding horizon is five years or more. Turnover is low by design.

Process and Discipline

Our philosophy is set out in How We Invest. Within the Saudi Strategy, we apply it through a highly structured process, supported by our proprietary multi-checklist scoring system.

Every investment is scored across seven dimensions: Accounting and Governance, Environment and Social, Quality, Management, Growth, Risk, and Real Economics. We think about valuation probabilistically. We don't predict the future. We simulate a range of scenarios and invest when the probability of permanent capital loss is greatly reduced.

We monitor risk across four lenses: business risks, company risks, valuation risks, and portfolio risks. The goal is to win by not losing.

Responsible Investing

We have practiced responsible investing for over twenty-five years. Responsible behavior and ESG compliance are embedded within our investment process, not bolted on afterwards. The same checklists that evaluate a company's economics also evaluate its environmental and social conduct, its governance, and the quality of its management.

Mayar Capital is a signatory to the United Nations-supported Principles for Responsible Investment.

Learn more about our approach to responsible investing

Availability

The Strategy is currently available as a separately managed account. It will soon also be available through the Mayar Responsible Saudi Equity Fund, a sub-fund of the Mayar Capital UCITS ICAV. The Fund is domiciled in Ireland and classified as an Article 8 fund under SFDR.

Continuity

The Saudi Strategy is new. The discipline behind it is not. We have applied the same Ethical Business-Owner Approach™ for over twenty-five years, with the same investment team and the same process. We are now applying it to the Saudi market.