SilverCross Investment Management

SilverCross Investment Management was established in 2014 as a partnership between IBS, the initiator David Simons and Chris Andrews to manage the capital of a limited number of sophisticated investors. The investment team of SilverCross works autonomously from IBS, enabling it to execute a specialised investment strategy that focuses on in-depth research in a concentrated number of listed global small-cap companies. The objective is to produce strong long-term performance, by investing in high-quality companies that are fundamentally undervalued as a result of temporary factors causing them to fall out of favour.

Investment Highlights

We invest in undervalued smaller companies generating strong free cash flows, high return on invested capital and long-term growth potential. We call them high-quality businesses.

An intensive due-diligence research process allows us to apply a high-conviction investment strategy. We invest in 25-35 companies that we consider to have the best prospects for strong long-term investment returns. Over a full market cycle (which we define as the stock market going from peak-to-peak in 5-7 years), we aim to exceed the total return of the benchmark – MSCI World Small-Cap index – by 3% per annum.

Our definition of small-caps is based on the global universe in which we invest. When we buy a new investment, the market cap ranges between Eur 250 million and 5.0 billion. We avoid getting trapped in stocks that cannot be sold by limiting ourselves to stocks that have enough liquidity to trade in and out without significant market impact. Geographical & sector allocations are driven by stock selection while avoiding extremes.

We invest like owners and consider each investment as a long term holding. Our focus is on a company’s long-term prospects, rather than the next quarterly results.

Our Business Principles

From the outset, our company has established a number of core principles, which lie at the heart of who we are and how we operate. We believe these principles are essential for long-term success as a company and for achieving our investment performance goal.

Our clients always come first
By focusing on the interests of our clients, and aligning ourselves with those interests, we create a durable partnership, where success is mutual.

Our reputation is our biggest asset. We will do everything to avoid damage to our reputation
As stewards of our clients’ capital, we earn our integrity and trust. We adhere to the letter and spirit of the law and regulations, because ethical behaviour is the foundation upon which to build long-term relationships and our business. We expect high ethical standards from our colleagues both at work and in their private lives.

We look to recruit the best
We work in a small team, where each person’s contribution weighs heavily. You have to be both talented and passionate at what you do. That’s why we are uncompromising in our selection of new colleagues.

We aim for excellence in everything we do
In our quest to become a leading player in global small-caps, we know that anything less than aiming for excellence means we’re not pushing hard enough. It means going the extra mile in everything we do, and continuously improving our processes.

We believe teams can achieve more and more effectively
Working in a team ensures a dynamic of optimism and high standards, while allowing constructive criticism and feedback to get the best possible outcome for our clients and our company.

We are a company that celebrates diversity in all respects
We believe diversity creates a more attractive work environment and a better connection to the world we live and operate in.

Our Culture

We believe in a corporate culture that embraces meritocracy and teamwork. We encourage independent thinking, learn from mistakes, and aim for excellence in everything we do. Open-mindedness, a hands-on mentality and an ambition to always improve is in the DNA of our entrepreneurial environment, with the goal to generate the best possible results for our clients.

Each and every colleague has a passion for investing, a can-do mentality, and wants to build SilverCross for the long term. We empower our people to achieve results for our clients. We share the risks and joys of working for SilverCross with our people. When we recruit new colleagues, we look for people who can thrive in this environment, regardless of their level of experience.

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