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. We do not constrain ourselves by benchmark, industry, or market cap. We report performance against the MSCI Saudi Arabia IMI 10/40 Index (USD) but do not use it to construct the portfolio.

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 period is five years or more. Turnover is low.

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.

very investment is scored across seven dimensions: Accounting and Governance, Environment and Social, Quality, Management, Growth, Risk, and Real Economics. We think about valuation probabilistically. Rather trying to forecast a future outcome, we model a range of scenarios and invest where the risk of permanent capital loss is low.

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. 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, but the process behind it is not. It is the same approach, run by the same investment team, applied to the Saudi market.