International
Value.
A high-conviction approach to developed ex-US markets. We seek deep contrarian positioning in high-quality franchises trading at significant discounts to intrinsic value.
8.4%
5-Year CAGR
0.78
Sharpe Ratio
$5M
Minimum Inv.
2008
Inception
Investment Philosophy
We believe that international markets—particularly Europe and Japan—often suffer from structural inefficiencies where sentiment disconnects from fundamentals. Our International Value strategy exploits these dislocations by identifying "fallen angels": quality companies with strong balance sheets temporarily out of favor.
Unlike traditional value traps, we focus on Cash Flow Return on Investment (CFROI) and catalysts for re-rating. We avoid industries in secular decline, preferring cyclical leaders and defensive franchises trading below replacement cost.
Geographic Exposure
Continental Europe
45%Focus on German Industrials and French Luxury/Consumer Cyclicals.
Japan
25%Corporate governance reform plays in Trading Houses and Financials.
United Kingdom
15%Deep value opportunities in Energy and defensive Healthcare.
Performance History
vs MSCI EAFE Value| Period | Strategy | Benchmark | Alpha |
|---|---|---|---|
| YTD 2025 | +9.1% | +7.4% | +1.7% |
| 1 Year | +11.5% | +9.2% | +2.3% |
| 3 Years (Ann.) | +8.8% | +7.1% | +1.7% |
| 5 Years (Ann.) | +8.4% | +6.5% | +1.9% |
| Since Inception | +7.9% | +6.2% | +1.7% |
Strategy Details
- Asset Class
- Intl Equity
- Style
- Deep Value
- Holdings
- 40-50
- Benchmark
- MSCI EAFE Val
- Avg Mkt Cap
- $35B
- Fee Structure
- 0.80% Flat
Portfolio Manager
Simon Vance
Intl Equities
24 years of experience. Formerly Head of European Equities at Schroders. Specialist in corporate restructuring and turnarounds.
Interested in this Strategy?
Download the full factsheet or schedule a discussion with our investment team.
IMPORTANT DISCLOSURES: International investing involves special risks including currency fluctuations, social, economic, and political uncertainties, which could increase volatility. These risks are magnified in emerging markets. Value investing carries the risk that the market may not recognize the intrinsic value of a company for a long time or that a company judged to be undervalued may actually be appropriately priced.