IIP is a Hong Kong-based asset management firm focused on
Japanese stocks and fundamentals-driven investing.
Mission Statement
At Invictus Investment Partners, our mission is to deliver long-term, risk-adjusted returns through deep fundamental research and disciplined risk management.
By redistributing capital based on fundamentals, we play a role in promoting social growth.
The name Invictus, meaning “unconquered”, reflects our belief in intellectual independence, resilience through volatility, and the conviction to think differently.
Investment Philosophy
At Invictus, we believe that markets are not universally efficient, and more importantly, no two markets are alike, regardless of size, liquidity, or perceived development. Japan is no exception. Its unique corporate culture, governance dynamics, capital allocation patterns, and investor psychology demand a process that is specifically designed for this environment.
Our investment philosophy is grounded in deep, bottom-up fundamental research and a long/short strategy focused on mispriced opportunities across Japanese equities. We take pride in having built a research and risk framework tailored specifically to Japan, not borrowed from global models, but designed for the nuances and inefficiencies that define this market. That is our edge.
We believe that successful investing requires intellectual independence, patience, and the conviction to act against consensus. We seek durable value, misunderstood stories, and underappreciated risks.
And ultimately, we believe investing is about people. That’s why we prioritize direct conversations with management and industry experts, not just spreadsheets and screens. Integrity, alignment, and long-term decision-making sit at the core of every investment we make.
Our Strategy
Our investment strategy is rooted in deep fundamental research with a bottom-up approach. We focus mainly on listed Japanese equities, seeking to identify mispriced companies through intensive due diligence, financial modeling, management access, and industry analysis.
We run a long/short equity strategy with a low net exposure, designed to minimize market beta while maximizing alpha generation. On the long side, we look for undervalued businesses with strong fundamentals, improving capital allocation, and catalysts for re-rating. On the short side, we target structurally challenged companies, poor governance, or overhyped narratives unsupported by data.
Our portfolio construction is a generalist approach with dedicated sector-focused specialists. Our analysts are expected to develop deep domain knowledge and independent conviction, not rely on consensus or index benchmarking.
Our process is built to be repeatable, scalable, risk-aware, and adaptive to evolving market conditions — aiming to deliver attractive returns across market cycles.
Announcements/Press