The investment committee meets on a formal basis every quarter to discuss strategic issues but on an ad hoc basis, in whole or in part, as news flow and events dictate. 

 

Our process is not linked to short term speculating on market movements since we consider this is the arena of gamblers rather than investors, but we do, of course, keep abreast of short term events. We monitor these and filter through the noise to find anything which might impact longer term outlook and help inform our investment decision making.