Do what you believe…

These are Kennox’s founding principles:

We believe that markets overshoot – great opportunities can arise in selectively taking positions against consensus
We try to decrease risk where possible – you’ll not find us swinging for the fences
We don’t care what’s in the benchmark – our portfolio will clearly reflect this
We are long-term investors, holding our companies for 5-10 years or longer – we want to travel with our companies

Elevated uncertainty

"Uncertainty is elevated in markets ..."

High quality at inexpensive prices – exactly what we look for

"The consensus on the UK economy remains deeply pessimistic. ..."

Encouraging momentum for 2026 as value opportunities expand

"Kennox wishes you a happy and prosperous 2026. ..."

Our Dividend: Growing 10% a Year for Ten Years

"The Fund's dividend has grown 10% per annum over the last decade – ..."

Out of favour, not out of potential

"We aim to maximise our odds of earning a solid return and minimise our risks of devastating losses. ..."

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Kennox Strategic Value Fund – An Overview

Disclaimer: this video is for information only and does not constitute investment advice. Past performance is not a guarantee of future returns.

Kennox Asset Management

Kennox is an independent global equities investment manager based in Edinburgh, Scotland. Our sole focus is our Kennox Strategic Value portfolio, launched by our investment team in 2007.

More about us

Fund Information

Investing In the Fund

Kennox Value

Our Kennox Value philosophy drives everything we do – from the structure of our business, through our processes to the highly differentiated portfolio we produce – and has remained unchanged since portfolio inception.

Our Approach

Quarterly reports

Reports contain our views on the market and the fund positioning, and cover a range of issues and topics varying over time.

Explore our Quarterly Reports

Thinking Aloud

When we believe that we have something of interest to say, we jot down posts that we hope might offer a different perspective on an issue or conventional wisdom. We call this Thinking Aloud.

Browse Thinking Aloud

Meet the Team

Charles Heenan

Investment Director

Geoff Legg

Investment Director