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| Additional information |
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| Orbe Investimentos |
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Overview:
Founded in 2002, Orbe Investimentos is an investment management company, focused on alternative assets, especially through value investing. We are one of the only Brazilian independent managers in the market specializing and focusing on truly long-term investments through investment in companies.
We are not a securities broker or bank. We are not classified as a financial institution and, therefore, those investing with us contribute assets directly into the funds, not an account held by the client with Orbe Investimentos. Our clients do not hold a checking account with us, only a unitholder code.
We do not have brokers among our staff and we do not make recommendations on shares or any other type of financial product. We analyze the market only for our funds (buy-side) and disclose our positions only after we have finished building them. We do not make corporate reports to clients and we do not have a sell-side area.
Do not make money with brokerage and, therefore, we have the habit of being bad clients for brokers that derive their revenue from buying and selling shares in the portfolios of their clients. We don’t transact or change the portfolio very much. Our revenue comes only from the management fee generated by our funds and the performance we share proportionally with our clients. We invest the assets that are in our investment funds.
For us, long-term investments are those of not less than 5 years that achieve their goals when the return demonstrates our investment thesis, always much more qualitative than quantitative. We do not act this way for reasons of fashion or market limitation, but because we believe that in the long run, when the goal is to achieve the best returns on invested capital with the lowest risk and volatility of results, there is no type of investment better than we make.
To achieve our goals, we use not only the best quantitative techniques in investment analysis, but we also do pretty intense field work by approaching the companies, their competitors and managers in order to deeply understand their business model and what makes them unique and valuable in their segment.
After the investment has been made, we are friendly active, without being arrogant or pretentious, by expressing our opinion on all important decisions as a technical and qualified alternative to what is being discussed, suggesting improvements in governance practices and in the way of approaching the market. We always try to have either a seat in the board of directors or in the audit committee, alone or in partnership with other investors that defend the same interests as us.
Our work consists only of finding the best investment opportunities in great companies for as many years as possible. Therefore, we are not a multiproduct company. Our work focus is and always will be investing within companies - stocks are just the way we buy part of companies. Our first equity fund, Orbe Value FIA started on February 3, 2003 and since then its compounded annual growth rate (CAGR) has been about 40%.
Our philosophy is based on Value Investing - Click here to read more about our philosophy. In our view, what we do is not a game of chance, but a sequence of decisions based on (i) deep and extensive analysis on our investment targets and (ii) rigid processes for monitoring and control of decisions, considering various alternatives for allocating capital vis-à-vis the stage that the company is and its maximum potential value.
Our greatest asset is our team, which has been together since the beginning of Orbe Investimentos. We are aware that the knowledge accumulated over the years and the interaction of people who decide and take care of investments then makes a huge difference in accumulated long-term gains.
Since the beginning of Orbe Investimentos, we have a habit of promoting annual meetings for investors and interested people to hear directly from managers the analysis of recent results, the situation of investees, and our expectations for the future of our management business and of the funds. If we ask our clients to stay with us in the long run, we must be always available to inform them about our company and the situation of the investment portfolio, which is why they are able to contact us directly, in order to understand how we think and who the fund managers are - which are now the founding partners of Orbe Investimentos. Something practically impossible at large banks and larger firms where the figure of the manager is more symbolic than practical.
Our focus educated investors that already have some knowledge of how the stock market works and have a long-term vision in line with our management philosophy, or at least have the available time and assets to understand where they are investing and real value of our management in the long term. Within this group we can find from individuals to institutional investors, such as foundations, pension funds, family offices, multi family offices, wholesale banks, and funds of funds.
An extremely relevant portion of the assets of partners and employees of Orbe Investimentos is always invested in our funds. It’s part of the company’s philosophy and has the practical effect of aligning the interests of all to the same common goal. When our funds do not perform well, we lose money. And when we do it right, we gain together with our clients. For us at Orbe Investimentos, it’s the only way to prove that we are on the same side of the table, always aligned with the interests of those who deposited their savings with us and who, above all, trust us and our way of investing. |
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