An active product that can demonstrate a structural or repeatable element to its performance is indicative of skilled investment decisions, while one that cannot is merely indicative of good luck. In...

Inflation, long-term bond yields and growth stocks are front of mind for many investors. We believe concerns of rising discount rates impacting present day valuations need to be weighed in...

Identifying and understanding the key drivers of risk and return is a crucial skill for any long-term active investor. Traditionally these items were defined purely in economic terms (revenue,...

I cannot quite believe its December. Heading into Christmas and reflecting on the year that was, it can be confidently said, it was one like no other! This year we saw our world turn upside down with...

At ECP, we continually assess the quality and the sustainability of our investments to evaluate the strength of their competitive advantage through time. Xero is a notable portfolio company which...

Networks are one of the most powerful competitive advantages a business can possess. Strong network effects make it difficult for businesses to be replicated, enabling long-term pricing power....

The recent pandemic has swiftly exposed structural vulnerabilities across the world. In Australia, housing is a fundamental component of household wealth, with the housing market being central to our...

For long-term investing, it’s important to understand both the narrative of an investment and the numbers that support it. Qualitative research provides the grounding for understanding the narrative,...

We have a saying at ECP, ‘sleep well before eating well’. As a high conviction fund manager with a focus on capital preservation, we need to sleep at night knowing our portfolio companies have...

While we are not qualified to assess the humanitarian impact of the virus, nor can we say how long the whole situation will last, we thank the medical and scientific community for their efforts in...