Gavekal Capital is a US registered investment advisory firm. We invest in the world’s most innovative companies.


The firm is creator and designer of the Gavekal Knowledge Leaders Strategy, indexes and actively managed investment products, including:
•••••• Gavekal Knowledge Leaders Indexes, strategic beta-style indexes which track the world’s leading innovators
•••••• Gavekal Knowledge Leaders Mutual Fund (GAVAX, GAVIX), a tactical allocation fund for US investors
•••••• Gavekal Knowledge Leaders UCITS Fund (Bloomberg: GAVPLAT), a UCITS Fund for non-US investors
•••••• Separately managed accounts

The Gavekal Knowledge Leaders Strategy is based on the belief that knowledge is undervalued, and our process is designed to tap into this market inefficiency. When we look at the economy, we see a root system of innovation that is invisible to the naked eye. This hidden layer of the economy feeds growth and wealth creation, and it is embedded inside companies around the world. We call these companies Knowledge Leaders.

Knowledge Leaders possess deep reservoirs of intangible capital as a result of their history of investing in knowledge-intensive activities like research and development. These companies have competitive advantages such as a strong brand, proprietary knowledge or a unique distribution mechanism. Their unique attributes often are invisible in the stock market due to conservative accounting standards that distort their record of innovation.

Gavekal Capital identifies Knowledge Leaders through a proprietary process that recognizes that intangible spending is an investment in a company’s future. Our proprietary model adjusts a company’s financial history to capitalize these investments, revealing attractive long-term opportunities.

The Gavekal Knowledge Leaders Indexes are the first index family designed to track the world’s leading innovators, according to our research.
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