Cedar Rock Capital is an independent, employee-owned investment firm established in November 2002. The firm is dedicated to a single, longstanding investment process. Our clients include endowments, foundations, families and corporate pension funds. We are closed to new investors. We pursue a long-only, buy-and-hold global equity strategy. We seek to minimise frictional costs and to defer capital gains by investing only in quoted companies that we believe capable of compounding in value indefinitely. In selecting companies appropriate for long-term investment, we follow strict bottom-up criteria emphasising quality, value and managerial character. We seek companies capable of sustaining high returns on capital without requiring financial leverage. We weigh companiesâ€™ free cash flow yields against long-term interest rates to determine value. Our criteria are demanding and our portfolios tend to be concentrated in 20 companies, selected globally. We make no attempt to control volatility relative to any benchmark. We aim to achieve positive absolute returns over the long term, with a strong capital preservation bias. Our Chief Executive and portfolio manager, Andy Brown, conceived and managed a similar investment strategy at Morgan Stanley Investment Management, starting in 1996. For further information, please call or email us: +44 (0) 20 7563 1100 moreinfo@cedarrockcapital.com Important Information: By continuing to browse our website you shall be deemed to be bound by and in acceptance of our Cookies Policy Cedar Rock Capital Limited 110 Wigmore Street London W1U 3RW United Kingdom Tel: +44 (0) 20 7563 1100 Fax: +44 (0) 20 7563 1111 Issued by Cedar Rock Capital Limited ("Cedar Rock"), which is authorised and regulated by the Financial Conduct Authority. This is not a financial promotion for any of Cedar Rock's range of funds. Access to information about Cedar Rock's products is limited to persons who are professional clients and eligible counterparties as defined by the FCA in the United Kingdom and other professional persons to whom it is lawfully permitted to provide access. Investors should be aware that any investment within Cedar Rock's range of products may fall as well as rise and they may not be able to get back their capital invested. Telephone calls may recorded and monitored in order for Cedar Rock to comply with its regulatory obligations. Cedar Rock Capital Limited's Pillar III disclosure may be found in its Annual Report and Financial Statements which are filed at Companies House. Registered Office: Cedar Rock Capital Limited, Suite 1, 3rd Floor, 11-12 St James's Square, London SW1Y 4LB Registered in England No: 4466326 Downloadable PDF documents: Shareholder Engagement Policy and the UK Stewardship Code Modern Slavery Act Transparency Statement Cedar Rock Capital Best Execution Annual Disclosure 2019 Cedar Rock Capital Best Execution Annual Disclosure 2020 Cedar Rock Capital GDPR privacy notice for candidates