Navis has managed public equities since 2005 and now has approximately USD170m under management in three public equity funds:
Navis Asia Navigator Fund – Value Oriented [Bloomberg: NAVASIA KY]
Navis Al-Bahhar Fund – Shariah-compliant Fund parallel to Navigator [Bloomberg: NAVBAHR KY]
Navis Yield Fund – Cash Flow and Dividend Focused [Bloomberg: NAVYILD KY; Eurekahedge: EH37154]
Navis' Public Equity investment style was designed to be "a private equity approach to public equity investing", based on common attributes of intensive research, a concentrated portfolio and frequent portfolio company interaction.
Navis' Public Equity Funds invest across the same geography as Navis private equity. Our dedicated Public Equity team consists of six investment, two dealing and four administrative staff. The team is based primarily in Kuala Lumpur and accesses Navis' regional resources as appropriate and shares Navis' corporate financial, legal and administrative resources.
Navis' public equity investment approach is based on the following principles:
Focus on analysis
- Every investment is subject to deep analysis, discussion, proprietary financial modelling, scenario analysis and regular interaction with management
- Collaborative Investment Committee discussion and decision-making processes
Portfolio concentration and deep knowledge
- Invest in a geography we know, in companies we get to know well and visit regularly, in order to allow high conviction and a concentrated portfolio
- What we invest in and what we don't (geographies, sectors, debt, people, etc)
- Invest only after full process of analysis and discussion
- Sell when target prices are reached
- Variety of risk management ‘rules'
All three of Navis' public equity funds have generated long term performance in excess of benchmarks at below market risk. Subscriptions are monthly and redemptions quarterly.
Members of the investment team include the following, all of whom are members of the Investment Committee:
Huang Tian Ming
Yeow Yong Teh
Kien Fah Lim