Value Invest

Speakers – Tuesday 14th May 2019

Jonathan Ruffer

Jonathan Ruffer, Ruffer LLP and Auckland Castle Trust

Jonathan Ruffer trained as a stockbroker and barrister before moving into private client investment management in 1980. He established Ruffer Investment Management Limited in 1994, which transferred its investment business to Ruffer LLP in 2004. He has written a social history, ‘The Big Shots’ on Edwardian shooting parties, and on the banking crisis of 2008, ‘Babel’. He established the Auckland Castle Trust in 2012, overseeing a project for the revitalisation of the palace home of the Bishops of Durham for 800 years, and the set of thirteen Zurbaran paintings of Jacob and his children. The charity, now known as The Auckland Project, is working to create an arts, faith and heritage destination of international significance which will draw visitors from across the UK and abroad.

Alex Roepers

Alex Roepers – Atlantic Investment Management

Alex Roepers is the Chief Investment Officer of Atlantic Investment Management, a global equity value-investing firm he founded in 1988. Mr. Roepers applies a differentiated constructive shareholder activist (CSA) investment approach to unlock incremental value in high-quality, undervalued companies in the consumer, industrials and businesses services sectors. Atlantic’s highly experienced investment team has successfully influenced change at many leading companies over the past 30 years in the U.S., Europe and Japan. Mr. Roepers began his investing career in the operations and corporate development departments at multi-billion-dollar conglomerates Thyssen-Bornemisza Group (1984-88) and Dover Corporation (1980-82). He has served on the Board of Dean’s Advisors at Harvard Business School since 2010; The Hotchkiss Investment Committee since 2014; as U.S. Chair for the Compagnie Fonds, Dutch Maritime Museum, since 2007; on Memorial Sloan Kettering’s Special Projects Committee since 1997; and as founder and board member for his charitable foundation, The Alexander J. Roepers Foundation, since 2002. Mr. Roepers has a Bachelor of Business Administration from Nijenrode University, which is the Netherlands School of Business (1980), and an MBA from Harvard Business School (1984).

C.T. Fitzpatrick

C.T. Fitzpatrick – Vulcan Value Partners

C.T. Fitzpatrick serves as Chief Executive Officer and Chief Investment Officer of Vulcan Value Partners. C.T. founded Vulcan Value Partners in 2007 to manage his personal capital. Since inception, all four strategies have peer rankings in the top 3% of value managers in their respective categories. Prior to founding Vulcan Value Partners, C.T. worked as a principal and portfolio manager at Southeastern Asset Management. During his 17 year tenure, the team at Southeastern Asset Management achieved double digit returns well ahead of inflation and was ranked in top 5% of money managers over five, ten, and twenty year periods according to Callan and Associates. C.T. earned his MBA in Finance from the Owen Graduate School of Management at Vanderbilt University. He also has a BS in Corporate Finance from the University of Alabama.

Rajiv Jain

Rajiv Jain – GQG Partners

Rajiv is the Chairman and Chief Investment Officer of GQG Partners and also serves as the portfolio manager for all GQG Partners strategies. He commenced investment operations at GQG Partners in June 2016 with over 24 years of investment experience. Previously, Rajiv served as a Co-Chief Executive Officer (from July 2014) and Chief Investment Officer and Head of Equities (from February 2002) at Vontobel Asset Management. He was the sole portfolio manager of the International Equities strategy (since 2002) and Emerging Markets Equities strategy (since 1997), and the lead portfolio manager for the Global Equities strategy (since 2002). Rajiv built the business from less than US$400 million under management to just under US$50 billion in 2016. He joined Vontobel Asset Management as a co-portfolio manager of Emerging Markets Equities and International Equities in November 1994. Prior to that, he was an International Equity Analyst at Swiss Bank Corporation. Rajiv earned an MBA in Finance and International Business from the University of Miami. He also has a master’s degree from the University of Ajmer and undergraduate degree in accounting with honors.

Ronald Chan

Ronald Chan – Chartwell Capital

Ronald W. Chan founded Chartwell Capital in 2007, and serves as Chief Investment Officer and joint Portfolio Manager. He has authored two books: Behind the Berkshire Hathaway Curtain: Lessons from Warren Buffett’s Top Business Leaders in 2010 and The Value Investors: Lessons from the World’s Top Fund Managers in 2012. Both books have been translated into several languages, including Chinese, Japanese, Thai, and Portuguese.

 

Nick Purves

Nick Purves RWC Partners

Nick joined RWC in August 2010. He was previously senior portfolio manager at Schroders for over 16 years managing both Institutional Specialist Value Funds and the Schroder Income Fund and Income Maximiser Fund together with Ian Lance. During his time at Schroders, Nick was Citywire AAA rated, and Nick and Ian’s Income fund was Morningstar 5 star rated, AA rated by OBSR and won the Moneywise award in 2009 in the UK Equity Income and Equity Income and Growth sectors. Nick is a qualified Chartered Accountant.

Ian Lance

Ian Lance RWC Partners

Ian joined RWC in August 2010. He was previously senior portfolio manager at Schroders managing the Institutional Specialist Value Funds, the Schroder Income Fund and Income Maximiser Fund together with Nick Purves. During his time at Schroders, Ian was Citywire AAA rated, and Nick and Ian’s Income fund was Morningstar 5 star rated, AA rated by OBSR and won the Moneywise award in 2009 in the UK Equity Income and Equity Income and Growth sectors. Previously Ian was the Head of European Equities and Director of Research at Citigroup Asset Management and Head of Global Research at Gartmore.

Alex Wright

Alex Wright – Fidelity International

Alex Wright has honed his distinctive contrarian value investment approach over a career spanning more than 15 years with Fidelity International. He joined the company in 2001 as a research analyst, covering a number of UK and European equity sectors across the market capitalisation spectrum in the years to follow. He has managed the Fidelity Special Situations Fund since January 2014 and has been portfolio manager of the Fidelity UK Smaller Companies Fund since its launch in February 2008. He has also been responsible for managing Fidelity Special Values PLC since September 2012. Alex has a BSc in Economics from Warwick University, where he graduated with First Class Honours, and he is also a CFA Charterholder.

Richard Oldfield

Richard Oldfield – Oldfield Partners (Moderator)

Richard Oldfield is Executive Chairman of Oldfield Partners, which he founded in 2005, after 9 years as Chief Executive of a family investment office. Prior to this, he was director of Mercury Asset Management plc, which he joined in 1977. He became Chairman of the Oxford University investment committee and Oxford University Endowment Management Ltd in January 2007, was Chairman of Keystone Investment Trust plc from 2001 to 2010 and is a director of Witan Investment Trust plc. He is the author of “Simple But Not Easy”, a “slightly autobiographical and heavily biased” book about investing

David Shapiro

David Shapiro – Willis Towers Watson (Moderator)

David is the Portfolio Manager for the Global Equity Focus Fund at Willis Towers Watson and for Alliance Trust, a quoted Investment Trust listed on the London Stock Exchange. Alongside his portfolio management responsibilities David provides regular research input to a number of clients. David joined from Stamford Associates where he was Deputy CIO responsible for devising and implementing investment strategies for a range of its largest investment clients. Prior to Stamford Associates, David established Greentrees Partners LLP as a joint venture with Collins Stewart before which he gained broad investment experience as a UK equity portfolio manager with UBS Global Asset Management (formerly Phillips and Drew) from 1998 and then as a UK equity portfolio manager with Morley Fund Management from 2003. In total David has 30 years of portfolio management and investment analyst experience. David is a member of the Chartered Institute for Securities and Investment (CISI)

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  • “It’s very much the Rolls-Royce of the investor conference market”
    Paul Scott, Stockopedia
  • “The people in that room were a more powerful cadre of the powerhouse of investment than has been gathered for a very long time”
    Jonathan Ruffer, Ruffer LLP
  • “It’s kind of like Glastonbury isn’t it, for the Value Investing community”
    Nick Train, Lindsell Train
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    Hassan Elmasry, Independent Franchise Partners
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    Nate Dalton, Affiliated Managers Group
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    Gary Channon, Phoenix Asset Management
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    Richard Oldfield, Oldfield Partners
  • “I do speak at a fair number of conferences to investor bases, this one is really quite a good list – some very, very good investors present and some very interesting speakers”
    Jon Moulton, Better Capital
  • “Definitely worth it and I know a number of people who have ‘ummed and arred’ about coming along and I’m sure that they will be regretting that they didn’t come today – and it’s only going to get better as far as I can see”
    Tim Green, Private Investor
  • “Having sat through the whole day as I wanted to come and hear all of the speakers – I’ve been really impressed by the quality”
    Anthony Bolton, Fidelity
  • “I’ve got a bunch of business cards to add to my collection and some folks I’ve been looking forward to meeting, plus some firms I didn’t even know existed but sound really interesting and I’m looking forward to building on that relationship base”
    Mason Morfit, ValueAct Capital
  • “You couldn’t find that anywhere else really, where you’re speaking to the principals who have been voted on to the Board [of Microsoft] to effect change”
    David Shapiro, Willis Towers Watson
  • “What I was impressed with is, because the subject is very similar, value investing, they found a variety of ways of attacking the same subject. I was also very impressed, having done this in another location, of seeing them stay on target time-wise so that it moves along at a great pace and I think the audience is greatly rewarded by that discipline”
    Don Yacktman, Yacktman Asset Management
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    Roli Saxena, Drona Capital
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    Dominique Levy, Sonian Capital
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    David Samra, Artisan Partners
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    Niels Borgen, Private Investor
  • “When you look at the ideas speakers have put forward in previous years and how they have performed over the last few years, they’ve done very well – if that performance continues it would be quite remarkable. It does show that you can pick up some good ideas at a conference of this sort”
    Jonathan Mills, Metropolis Capital
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    Leon Boros, Equity Strategies