North Energy is an industrial investment company that seeks to provide shareholders with an attractive return based on a strategy of active ownership. Through active ownership we believe we can generate superior long-term risk adjusted returns by utilizing our ownership experience to build high quality businesses.
We have a long-term view on identifying industrial investments and would generally expect to make relatively few investments during a normal year. Shareholders can therefore expect us to have relatively high degree of concentration in a few selected holdings. We normally target ownership levels that allow us to influence the strategic direction of companies and as such will often seek board representation.
We expect the majority our available financial resources to be deployed in our industrial investments, but from time to time we also invest in other financial assets on an opportunistic basis using surplus liquidity. We can invest both in listed and unlisted shares, as well as bonds and other debt instruments. Our overall ambition is to achieve an entry cost at valuations that provide a strong basis for generating attractive long-term returns. The company may convert its financial investments to industrial investments over time. And vice versa.
We measure our success based on growth in net asset value per share and our ambition is to increase this at a competitive growth rate over time. We target growth in net asset value per share principally through building value in the operating activities of our companies over time, both through organic and inorganic investments, as well as other growth initiatives and operational improvements.
Our overall approach for finding new industrial investments is based on value oriented and contrarian philosophy, implemented by waiting for the right opportunities to emerge in industries or sectors that are offering attractive long-term return potential. Our core holdings are within the energy industry but we also seek out investments in other industries on a selective basis when we believe these industries offer attractive return potential.