Standing by its 'low speed' investment process, Belgrave's credo is that if you don't understand it, you don't invest in it.
By Claire Makin
For Mattia Nocera and his colleagues, 2008 was not the shocking wake-up call that it was for many in the industry. Certainly the funds that the group oversees lost money because of their strong equity bias. But the long-held beliefs of the principals remain unshaken and their investment process and systems unchanged.
This reaction is not the result of complacency. Instead, Nocera and his colleagues are confident that everything worked as well as it could have done given the horrendous market conditions.
Nocera is managing director of London-based Belgrave Capital Management,