LVIC Awards 2020: Fund Manager and CEO Capital Allocator Awards
Voting is now open for the 2020 awards – the winners will be announced at the London Value Investor Conference
Prior Winners:Richard Cousins – 2016
Tim Martin – 2017 Simon Wolfson – 2018 Henry Engelhardt & David Stevens – 2019
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Prior Winners:Prem Watsa – 2016
Warren Buffett – 2017 Michael O’Leary – 2018 Bruce Flatt – 2019
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Prior Winners:Charles Brandes – 2015
Jean-Marie Eveillard – 2016 Anthony Bolton – 2017 Joel Greenblatt – 2018 Seth Klarman – 2019
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CEO Awards
The capital allocator awards were introduced in 2016 to recognise CEOs for the key talent of capital allocation. On average, 70% of shareholder funds are retained in businesses and not paid out to shareholders. Effective deployment of retained capital therefore makes a profound difference to investor returns. To recognise this key talent, the London Value Investor Conference launched two Awards for the Public company CEOs with the best Capital Allocation record judged over multiple years.
The criteria used for judging good capital allocation discipline will include such things as:
- Returning capital to shareholders either through dividends or share buybacks when these offer the best available return on capital
- Saving shareholders money by controlling costs in an unusually disciplined way
- Deploying growth capex with a keen focus on return on investment
- Shutting down or selling poor return, non-core or loss-making businesses
- Acquiring businesses or large assets at prices which deliver superior long term shareholder returns
Fund Manager Awards
The first LVIC Award for Lifetime Achievement was won by Charles Brandes in 2015, followed by Jean-Marie Eveillard in 2016, Anthony Bolton in 2017, Joel Greenblatt in 2018 and most recently Seth Klarman in 2019. We are now seeking nominations which will be shortlisted for voting for the winner of the Fund Manager Lifetime Achievement Award 2020 which will be announced at the rescheduled London Value Investor Conference in Autumn 2020.