John Nolan

Provides asset management services

PIIML is an active global investor, with a long-term investment approach which focuses on quality companies with attractive valuations. The firm follows a fundamental approach to investing and employs a bottom-up approach to stock selection. The firm's portfolio construction process aims to strike the right balance between concentration and diversification. PIIML constructs a diversified equity portfolio with a mid- to large-cap bias, typically investing in high-quality companies with strong franchises, high return on equity, clean balance sheets, earnings growth and liquidity. Their portfolio will tend to have a price earnings ratio lower than the market and dividend yield higher than the market. PIIML is benchmark independent. The country weights of the portfolio result from the global stock selection process and the firm places no constraints on the maximum and minimum regional positions that may be taken. They sell stocks when they believe that they are fully priced, a more attractive alternative arises, or when there is an adverse change in fundamentals or they are not convinced by management's strategy.