Q: I own a full position in CSU and half positions in KXS and TOI. I have noticed that you like DSG and that you listed it as one of several companies with a large moat. Would you consider it to differ enough from CSU, KXS, and TOI to be added to my portfolio? Thank you.
5i Research Answer:
Yes; while it is software and could have some correlation to other software names, of course, its logistics business is fairly focused and we think different enough from the others. KXS focuses on supply-chains management, which does include logistics, but we think there are enough differences there. TOI's focus is in Europe which makes its different enough. CSU has exposure to nearly everything now, but we also think it is different enough overall.