Mayar Responsible
Global Equity Strategy

Strategy Overview

We invest in great businesses across global developed markets, pay reasonable prices for their shares, and hold them for the long term. We have managed the Strategy since May 2011, applying 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, and active share is consistently above 90%. We report performance against the MSCI World Index but do not use it to construct the portfolio.

What We Invest In

The businesses we own have durable economic moats, predictable economics, strong balance sheets, and management teams whose interests are aligned with ours. We buy them at prices that give us a margin of safety, and we hold them for as long as those conditions hold.

Our holding period is five years or more, and many positions have been held considerably longer. Turnover is low.

Process and Discipline

Our philosophy is set out in How We Invest. In the Global 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. 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

We run the Global Strategy through the Mayar Responsible Global 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.

The Strategy is also available as a separately managed account, from $10 million.

Continuity

The Strategy launched in May 2011, but the philosophy behind it is older. Capital from a predecessor fund, including our founder's own money, has been invested continuously since 2003