Investment Philosophy and Style
Celeste is an active listed equities manager.
At Celeste we recognise that equity markets are rarely perfectly efficient. As a result there are times when share prices do not accurately reflect the intrinsic value of the companies they represent.
We seek to take advantage of equity market valuation anomolies via the application of a disciplined and definable investment process. We invest with patience. generally with a medium to longer term time horizon.
Our investment style is process driven, incorporates both growth and value considerations, and is generally considered to be style neutral.
At Celeste we seek to identify shares that are trading at a discount to intrinsic value. This requires a thorough understanding of the company's fundamental traits, both in isolation and relative to its peers.
We undertake focused company research which adheres to our investment process, rather than market fashion or mood swing.
We invest in a range of stocks, across industry sectors. Exposure to industry groupings is an outworking of our stock selection process and this may at times lead to a high investment exposure to any one industry group.
As we apply our investment process our focus remains the generation of above benchmark returns, often with very modest levels of portfolio turnover.