Investment Discipline Foyston, Gordon & Payne Inc. is a value-style portfolio manager. The firm is focused on a "simple value" philosophy. Through its disciplined and conservative research, stock selection and portfolio construction, it has achieved consistent, strong performance for its clients over the long-term.
When considering investments, Foyston's primary concern is to select quality companies that are priced conservatively. Its decision to select and own shares of companies is based on a thorough assessment of each company's fundamental strength and its position within its industry on a global basis. Its investment ideas are generated primarily through internal research. The focus is on analyzing quality companies whose shares are out of favor and therefore, could offer favorable long-term growth.Foyston holds investments for many years and as a result the firm's portfolio turnover rate tends to be quite modest (on average 20% - 25% a year). However, if a stock's price rises rapidly such that it no longer considers the stock fairly priced compared to its intrinsic value, the firm will consider reducing or selling its position. Similarly, the firm will consider selling a stock if its fundamentals begin to deteriorate such that it no longer feels the stock can meet the firm's quality criteria.