FSI seeks to identify high-quality companies that are able to grow sales and earnings at rates above GDP. FSI uses a three-stage process to find attractive investment opportunities.

GFL provides investors with access to Berkshire Hathaway Inc, an investment company listed on the New York Stock Exchange. Class A shares in Berkshire Hathaway are currently trading at over USD$217,000 per share, making them highly unaccessible to a retail investor.

The portfolio is diversified, typically consisting of 50 to 80 stocks. The company invests in stocks of all sizes, including large cap and small cap stocks. Given over 60% of the portfolio is invested in ex-100 stocks the portfolio encompasses a greater level of risk than portfolios comprising larger-cap stocks, due to the reliance of smaller companies on single markets, products or key personnel and the reduced liquidity of these stocks

The portfolio may hold between 10 and 100 investments and therefore the level of concentration will vary. There are no restrictions regarding the minimum or maximum investment in any individual stock or sector and as such the manager may take large positions in an individual security.

WAM predominantly invests in small-to-mid cap stocks. The Manager primarily maintains small positions in securities to minimise risk, however, there are no size restrictions on investments so the manager can take high conviction positions in a stock if they so desire. We note that smaller cap stocks tend to entail a greater level of risk; however, the upside potential can be considerable.