Our strategy

Endurance Capital is a long term oriented and fundamental investor, which:

Endurance Capital focuses on identifying overlooked, misunderstood and undervalued companies in the Vietnamese small and midcap space, with a preference for consumer-driven sectors

Endurance Capital holds a concentrated portfolio of around 10-15 holdings at any one point in time. This concentrated portfolio allows Endurance Capital to understand its holdings better than the rest of the market

Endurance Capital identifies its opportunities outside of the typical coverage of institutional equity research and conducts first-hand bottom-up fundamental analysis of potential target companies, among others through its vast network of local financial and domain expert operational advisers

Endurance Capital is a long term holder, with a typical holding horizon of at least 3-5 years. This allows the entity to profit from the significant short term mis-valuations that are created on the Vietnamese stock exchanges where retail investors are still the dominant investor group (ca. 80%)

In the situations where Endurance Capital deems it necessary to realize the full value potential of one or more of its holdings, it will selectively act as an active owner to empower the company to outperform, primarily through direct or indirect representation on the board

With its disciplined ‘deep value’ investment approach, Endurance Capital seeks to invest in companies that are significantly undervalued relative their intrinsic cash worth. Within this investment approach, Endurance Capital also practices a ‘margin of safety’ principle where only deeply undervalued targets are considered (targeting companies that can at least triple in value over three to four years)

Over time, Endurance Capital expects to actively engage in ca 30% of its holdings. All of the active investments are however required to meet the minimum risk & return requirements already without the upside that can be unlocked through active ownership