‘We actively sit down and attack our current investment cases on companies,’ says partner and investment manager Ross Ciesla. He explains that it’s good practice to find out ‘what would have to go wrong for clients to lose money in this company over the next five years’. The outcome is a shortlist of about 150 companies from a list of 20,000. ‘A lot of the stocks we own actually grew the revenues through the global financial crisis,’ he says. Ciesla is a firm believer in a flat management structure for decision-making, where ‘everyone has to challenge everyone else’. The multifaceted nature of such discussions is essential: ‘Here it’s even more important as you’re dealing with someone’s savings, someone’s pensions,’ he says.