Description: Invest in a Great Business with Exceptional Management at an Attractive Price

• Capacity and willingness to suffer short-term pain for long-term gain
• Ability to identify "attractive businesses" based on rigorous fundamental company research
• Stay within our "circle of our competence" and invest in companies that we have deep understandings of

Key Features:

• A concentrated portfolio of 20-30 names
• Look for Long-term Capital Compounder
• Large cap Biased
• Low turn over

• Source: SPARX Asset Management Co., Ltd.