Mayar Responsible
Global Equity Strategy

Strategy Overview

We invest in great businesses across global developed markets, hold them for the long term, and pay reasonable prices to do it. 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 and is agnostic to benchmark, industry, and market cap. Active share sits consistently above 90%. We measure ourselves against the MSCI World Index. We don't let it shape what we own.

What We Invest In

We invest across global developed markets, 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. Many of our positions have been with us considerably longer. Turnover is low by design.

Process and Discipline

Our philosophy is set out in How We Invest. Within 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. 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

We run the 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 Mayar Responsible GLobal Equity Strategy launched in May 2011. The philosophy behind it is older. Capital from a predecessor fund, including our founder's own, has remained invested since 2003. It is the most honest form of alignment we know.