Castle Point is a boutique Fund manager which was formed in 2013 by Richard Stubbs, Stephen Bennie, Jamie Young and Gordon Sims.
We invest with a long-term perspective and focus on capital preservation.
Our investment philosophy and process seeks to exploit market inefficiencies that exist, in our opinion, because financial market investors tend to:
- focus on recent past performance
- underestimate the effect of capital flows and the resilience of poor returning companies (we call this the ‘Value opportunity’)
- underestimate the length of time growth companies can earn excess returns (we call this the ‘Quality opportunity’).
We use disciplined investment processes to find, research and include investment opportunities in our portfolios.
Our investment commentaries frequently delve into examples that illustrate how our investment philosophy works in practice.
September 2016 – Richard looks at how being a long term investor creates opportunities for both Quality and Value investments.
July 2015 – Stephen explains how the short term horizon can create fantastic investment opportunities, especially in fast growing Quality companies.
April 2015 – Gordon takes you through the importance of good corporate governance in the companies into which we invest.
Jan 2015 – Stephen discusses how value investing can test an investor’s resolve, in a Case Study of Pain.
All investments are kept with the Public Trust, our custodian and supervisor.
A narrative to take markets higher
We discuss the possible role for a once obscure economic theory that is gathering supporters around the world - Modern Monetary Theory.
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Fletcher Building made the news again last week in a Radio New Zealand Checkpoint piece focusing on the One Central development in Christchurch, formerly known as the East Frame.
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The holy grail of investing
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On a recent visit to one of the external managers of our 5 Oceans Fund we asked them for their biggest market worry. The rise of risk parity strategies was the answer.
MORE»4 reasons why the Ranger Fund can enhance your core equity portfolio
The Ranger Fund was recently announced winner of the 2018 FundSource Awards – Alternative Sector. This category included Australian and New Zealand long-short funds. We set the Ranger Fund up as a place for our personal savings. We see it as our core savings fund. However, we acknowledge that the award speaks to the defensive characteristics of the fund, and our different approach to investing.
MORE»Volatility in the markets is an investor's friend
The markets have been highly volatile in recent months, but it's not all bad news, Castle Point Funds Management explains why.
MORE»Eight reasons to be optimistic about 2019
Castle Point Funds Management portfolio manager Richard Stubbs gives investors eight reasons to be optimistic about this year.
MORE»Time to invest in gold?
Warren Buffett makes a good case regarding gold.
MORE»Portfolio insurance protection explained
Castle Point Funds Management says there are heightened risks in financial markets and it's time for managers to put some protection into their portfolios. This feature explains how they are they are adding protection.
MORE»Dire Straits for Infrastructure Funds
One of the Cook Strait ferry operators, Strait Shipping, was mentioned in the news recently. Although it doesn’t feature in any of Castle Point’s investments, it did tweak our interest.
MORE»Corporate Values, worth the effort?
"Communication. Respect. Integrity. Excellence." - Enron
MORE»To be or not to be? (A Conglomerate)
In a recent investor update in Sydney, Fletcher Building’s new CEO, Ross Taylor, took the bold step of comparing the company’s performance to global building material giants such as Saint Gobain and CRH, who respectively have revenues of €44b and €28b (10 and 8 times bigger than Fletchers).
MORE»