Quality Investing in Asia
Ascender Capital is a Hong Kong based investment boutique run by entrepreneurs and managing a single equity strategy since 2012.
We are looking for hidden gems or companies that are misunderstood by the market. Our on-the-ground presence allows us to exploit these inefficiencies while avoiding the numerous pitfalls that can be found in the region.
2012
Inception of first fund
25+
High quality portfolio companies
5x
Average portfolio EV/EBIT valuation
12%
Average 7-year EBIT growth
Navigating Asia
Building a portfolio of hidden gems
We invest in high-quality businesses across Asia, including Japan, with a focus on inefficient segments of the market, where companies are not followed by brokers and disclosures are limited or not always available in English
Our process combines quantitative and qualitative approaches.
Idea
generation
New ideas are sourced exclusively from our proprietary Quality Universe. Our database is composed of companies that we have met since 2012 and is updated weekly.
Fundamental research
Our framework focuses on assessing business quality, minimizing biases and allowing comparison across a wide universe of geographies and business models.
Portfolio construction
Our scoring tool combines quality and valuation metrics, with cheaper and better businesses getting the best scores.
Our funds
Ascender Capital currently manages three funds. All three invest in Asian equities, follow the same strategy and process and are offered in absolute return or long-only versions.
Case studies
We are sharing these case studies to illustrate the types of opportunities we invest in and our distinctive approach to investing in the region, where establishing a dialogue with management is always valuable and often positively impact our investments performance
ITFOR
A recurring Japanese IT services business with high market shares, strong profitability and shareholder-friendly capital allocation
Modern Dental
Global leader in dental prosthetics with unique distribution and sales network