Our Approach — MissionPath Portfolios
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What we do

A concentrated portfolio of businesses we’d own outright.

MissionPath Portfolios is a discretionary managed account — an absolute-return strategy built bottom-up, one stock at a time. Here is what it is, how it’s built, and what it has returned.

The mandate

What the account is.

Four words define the mandate. Everything else — process, guidelines, pillars — exists to serve them.

01

Discretionary

You grant the mandate; we make every buy and sell decision within it. No phone calls before each trade — the discipline that built the track record stays intact.

02

Bottom-up, stock by stock

We don’t start from index weights or macro calls. Each position earns its place on the merits of the business — its people, economics, and price.

03

Listed-only, long-only, fundamental

Exchange-listed equities, bought to be held, valued on fundamental analysis. No shorting, no leverage, no unlisted paper — everything in the account can be sold any trading day.

04

Concentrated, high-conviction

A short list of positions we know deeply, sized to matter. Diversification protects against ignorance; we’d rather not be ignorant.

The approach

Four pillars. Three guidelines. Two pivots. One portfolio.

An absolute-return, non-benchmarked strategy: we aim to compound your capital, not to track an index. The countdown is how every decision is made.

the index absolute return
4

The four pillars

Every holding is screened into one of four pillars — each with its own standard for quality, valuation, and sizing before a dollar moves.

I

Great at fair value

Exceptional businesses — durable moats, high returns on capital — bought when the price is merely fair. The portfolio’s core.

II

Deep value

Sound companies priced well below what the business is demonstrably worth — bought with a margin of safety, sold as the gap closes.

III

Cyclical & momentum

Positions that ride an earnings cycle or price trend — sized tightly, entered and exited with discipline rather than conviction alone.

IV

Disruptive

Early leaders rewriting their industries. Small, deliberate stakes where the upside justifies the volatility.

3

Guidelines we never trade away

They sound simple. Holding to them through euphoria and panic alike is the discipline clients pay for.

01

Don’t lose money

We size every position around its downside. A portfolio that falls 50% must double just to break even; we’d rather never need the double.

02

Own businesses, not tickers

We buy as owners would — judging the business, its people, and its price — and let the market’s moods work for us, not on us.

03

Double every five years

Our long-term objective — an objective, not a promise. It disciplines every decision: consistent, repeatable gains beat occasional heroics.

2

Tactical pivots

Two levers move with conditions; everything else stays put.

Pillar weights

The mix across the four pillars is not fixed — it tilts toward wherever the opportunities actually are, cycle by cycle.

Cash

Cash is the residual of discipline, not a forecast. When nothing meets our standards, we hold it without apology — and spend it when panic puts quality on sale.

1

One portfolio

Every client account holds the same strategy. No model tiers, no house-view versus best-ideas split — all eyes on a single basket, watched full-time.

The track record

Real returns, plainly reported.

+31.8% 1 year
+23.6% 3 years, p.a.
+6.7% Since inception, p.a.
Growth of the portfolio
Cumulative time-weighted return · since inception, Sep 2018
+64.6% cumulative
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Composite performance, as of 31 May 2026
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Calendar-year returns
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Inside the portfolio

What we hold, and why you can see it.

Full look-through, always. Allocation and top holdings as of 31 May 2026.

By country
By sector
Holdings are actively managed and shift with market conditions. Cash is the residual of discipline, not a forecast.
Top holdings
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Composite performance in SGD, net of all fees except performance fees (included at year end); returns for periods over 1 year are annualised (“p.a.”). Based on unaudited results of client accounts aligned with the mandate; individual returns may vary. Past performance is not indicative of future results.

Numbers hold up? Let’s talk.

A 30-minute call, no obligation — or see how getting started works first.

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Important information

MissionPath Portfolios is managed by Keith Ouyang, CFA, within the managed accounts department of Phillip Securities Pte Ltd, holder of a Capital Markets Services licence issued by the Monetary Authority of Singapore. Client assets are held in the client’s own name with Phillip Securities as custodian; MissionPath does not take custody of client money.

Investing involves risk, including possible loss of principal. Past performance is not indicative of future results. Nothing on this site is an offer, solicitation, or personalised investment advice; any engagement is subject to eligibility, onboarding, and a signed mandate.

MissionPath Portfolios A managed account service under Phillip Securities
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© {{ year }} MissionPath Portfolios. Investing involves risk, including possible loss of principal.

General disclaimer

The information contained in this website is provided to you for general information/circulation only and is not intended to nor will it create/induce the creation of any binding legal relations. The information or opinions provided do not constitute investment advice, a recommendation, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not have any regard to your specific investment objectives, financial situation and any of your particular needs. Accordingly, no warranty whatsoever is given and no liability whatsoever is accepted for any loss arising whether directly or indirectly as a result of any person or group of persons acting on this information. Investments are subject to investment risks including possible loss of the principal amount invested. The value of the product and the income from them may fall as well as rise.

You should seek advice from a financial adviser regarding the suitability of the investment products mentioned, taking into account your specific investment objectives, financial situation or particular needs, before making a commitment to purchase the investment product. In the event that you choose not to obtain advice from a financial adviser, you should assess and consider whether the investment product is suitable for you before proceeding to invest.

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