Ilex’s approach has been to invest with smaller, boutique managers many with less than the U.S.$500 million under management.  These managers manage long-only or long/short equity funds; Ilex focuses on the investment philosophy, style, and discipline employed by the manager. 

Smaller funds may be better able than larger funds to establish and manage concentrated portfolios, as many ideas come from the small- and mid-cap universe that remains under-researched by the investment analyst community.

Through assembling a portfolio of boutique investment vehicles, Ilex seeks to harness the best ideas of managers of smaller investment vehicles, while providing stock, sector, and geographic diversification.  

Ilex also believes that medium- to long-term investment horizons in public markets can provide a meaningful competitive edge in markets that tend to be characterized by short-term oriented fund managers and capital allocators. Ilex views Asia’s demographics create a compelling case for a regional allocation.

"smaller funds may be better able than larger funds to establish and manage concentrated portfolios"

ILEX
INEFFICIENT MARKETS, ADEPT MANAGERS