Hamon actively manages funds with a core style: growth or value depending on the economic and liquidity cycle. We focus on "bottom-up" stock selection and generate portfolio alpha by identifying companies in their early phase of earnings acceleration and for which we have identified a catalyst. Our valuation methodology is governed by assessing the long-term relationship between the price-to book ratio and return on equity. We do not constrain ourselves to only growth or value styles or market capitalization, as we believe no single investment style consistently outperforms in Asia. Hamon focuses on opportunities in different industries across the Asian countries, and our strategy is performance-driven rather than market cap-driven.