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...

Enterprise software is in the midst of a structural shift toward cloud-enabled platforms. In-house systems, localised IT teams, unsupported third-party software, and expensive solutions by incumbents...

As we wind down, we reflect on the past year which has seen a particularly turbulent one for geopolitics. Despite this, it has been an incredible year for our business and our investment portfolios....