Old Rice

The firm does not follow an index-hugging approach. It selects investments through deep in-house research and active investing, and it trusts equity as a long-term asset. It does not engage in day trading. Its research is in-house, covering identification and continuous monitoring, and it looks at everything: present, past and future, micro and macro, and short, medium and long term. The firm does not equate volatility with risk; it sees the biggest risk as what it does not see coming. Its interests are aligned with investors: the principals own substantial wealth invested in the fund, and the performance fee is charged only on returns above 10% annually, with no catch-up. The market is vast but superior opportunities are scarce, so the firm makes meaningful allocations to high conviction ideas, with a maximum of 10% in any one. The firm primarily invests in listed equities. For extraordinary opportunities it invests in unlisted equities and pre-IPO opportunities, and it uses derivatives and leverage judiciously.