How ICSA identifies opportunities, evaluates investments, allocates capital, and exercises its responsibilities as a shareholder.
We identify opportunities across listed and unlisted markets in sectors fundamental to South Africa's economy, using disciplined research, market analysis, direct relationships and referrals where appropriate.
Every opportunity is tested against The ICSA Way — five principles that help determine whether an investment fits our long-term thesis before capital is committed.
We establish shareholding positions with discipline and a long-term ownership mindset. In listed equities, we exercise our shareholder rights thoughtfully; in unlisted investments, we seek constructive partnerships with founders and management teams where appropriate.
We monitor performance, governance, capital allocation and the continuing investment thesis. Where our ownership position provides influence, we engage constructively with the objective of supporting long-term value creation and compounding returns over years, not quarters.
Our responsibility as an investor continues for as long as we remain invested. In listed equities, this means disciplined monitoring, ongoing assessment of the investment thesis and thoughtful exercise of shareholder rights. In unlisted investments, our involvement may extend to closer strategic and governance engagement where our ownership position allows. Across both, the same principles of disciplined capital allocation, responsible ownership and long-term thinking apply.