Value Invest London

Speakers - Tuesday 12th May 2020

Nick Train

Nick Train – Lindsell Train
Book Value

Nick Train co-founded Lindsell Train Limited in 2000. He is the portfolio manager for UK equity portfolios and jointly manages Global portfolios. Nick has over 30 years’ experience in investment management. Before founding Lindsell Train he was head of Global Equities at M&G Investment Management, having joined there in 1998 as a director. Previously he spent 17 years (1981 – 1998) at GT Management which he left soon after its acquisition by Invesco. At his resignation he was a director of GT Management (London), Investment Director of GT Unit Managers and Chief Investment Officer for Pan-Europe. Nick has a BA honours degree in Modern History from Queen’s College, Oxford.

Paul Korngiebel

Paul Korngiebel – Boston Partners
Momentum Investing for Value Investors:
The Long and Short of It

Mr. Korngiebel is a portfolio manager on all Boston Partners Emerging Markets strategies, including Boston Partners Emerging Markets Equity and Emerging Markets Long/Short Equity. He also serves as a supporting member of the greater Global Equity team, providing input on idea generation for various international and global portfolios. Mr. Korngiebel joined the firm from Deccan Value Advisors, which he co-founded, and prior to that he worked at Brandes Investment Partners. Both firms are dedicated to global value investing. Mr. Korngiebel holds a B.A. from Bowdoin (Phi Beta Kappa), M.A. degrees from Harvard and St. Johns College, and an M.B.A. degree from Northwestern (Beta Gamma Sigma). He holds the Chartered Financial Analyst® designation and has nineteen years of investment experience.

Nick Kirrage

Nick Kirrage – Schroders

Specialist value investor Nick Kirrage is co-head of the Global Value team at Schroders, who manage over £12bn of clients’ assets. Along with co-manager Kevin Murphy he runs the Schroder UK Income, Schroder UK Recovery and Schroder ISF Global Recovery Funds. Nick started his investment career in 2001 within Schroders’ Pan European research team, having previously been an analyst responsible for Transport, Metals, Mining, Aerospace and Defence sectors. He is a CFA Charterholder and holds a degree in Aeronautical Engineering from Bristol University. Nick is a regular contributor on ‘The Value Perspective’ – a specialist resource dedicated to value investing in UK equities.

 

 

 

 

 

Mick Dillon

Mick Dillon – Brown Advisory

Mick Dillon is a Partner of Brown Advisory and a portfolio manager of the Global Leaders strategy alongside Bertie Thomson. Mick joined Brown Advisory in 2014 from HSBC Global Asset Management in Hong Kong where he was the co-head of Asian equities. While at HSBC, he was responsible for managing a range of strategies: quality/dividend, large-cap and small-cap focused pan-Asian equity, as well as a number of country-specific strategies. Previously, he managed a global equity long/short fund for HSBC in London and was a global technology equity analyst at Arete Research early in his career. He attended the University of Melbourne (1991-1996) where he graduated with a Bachelor of Engineering (first class honours) and also gained a Bachelor of Commerce and Bachelor of Science. Mick is also a CFA charterholder.

Dan O’Keefe

Dan O’Keefe – Artisan Partners
Artisan Global Value

Daniel J. O’Keefe is a managing director of Artisan Partners and founding partner of the Artisan Partners Global Value Team. He is lead portfolio manager of the Artisan Global Value Strategy, which he has managed since its inception in July 2007. Mr. O’Keefe also was co-portfolio manager for the Non-U.S. Value strategy from October 2006 through September 2018. Prior to becoming portfolio manager in 2006, Mr. O’Keefe was a research analyst for the Artisan Non-U.S. Value strategy. During this time, the team was nominated six times for fund management (in 2008, consecutively from 2011-2014, and again in 2016) for Morningstar, Inc.’s International-Stock Fund Manager of the Year award in the US and won the award in 2008 (Non-U.S Value) and in 2013 (Global Value and Non-U.S. Value). Prior to joining Artisan Partners in May 2002, Mr. O’Keefe was an analyst in international equities at Harris Associates LP from July 1997 through May 2002. Preceding his days at Harris Associates, he was an associate in mergers and acquisitions at BancAmerica Securities, and was an analyst with Morningstar, Inc.

 

Albert Yong

Albert Yong – Petra Capital Management

Albert H. Yong is a Managing Partner and the CIO of Petra Capital Management. Mr. Yong has more than 20 years of experience of investing in Korea. Mr. Yong utilizes a disciplined and patient deep value investing approach to seek superior risk-adjusted returns with limited volatility and bases his investment decisions on detailed, research-based analysis and thorough due diligence. Mr. Yong believes that the Korean stock market currently offers compelling value investing opportunities for international investors. Prior to co-founding Petra in 2009, Mr. Yong was a Managing Director and the CIO of Pinnacle Investments and a Portfolio Manager of Pan Asia Capital where he was in charge of managing the Korean equity portfolio. Mr. Yong received his MBA from the UCLA Anderson School of Management and his BS in Electrical Engineering from Seoul National University.

Andrew Brenton

Andrew Brenton – Turtle Creek Asset Management

Andrew Brenton is the CEO and a co-founder of Turtle Creek. Previously, Mr. Brenton founded and was the CEO of the private equity subsidiary of The Bank of Nova Scotia where he invested $300 million in control positions of a dozen Canadian private companies. Mr. Brenton was head of the high technology investment banking practice of Scotia Capital in the early 1990’s and prior to that, he was a founding member and Managing Director in the firm’s mergers and acquisitions practice. Mr. Brenton joined McLeod Young Weir (the predecessor to Scotia Capital) in 1984. Mr. Brenton received his MBA from the Richard Ivey School of Business (University of Western Ontario) in 1984 and his B.Sc. from Mount Allison University in 1980.

Edward Blain

Edward Blain – Orbis

Edward joined Orbis in 2010. Based in London, he is a member of the Europe investment team and is one of the stockpickers who directs client capital in the Orbis Global Equity Strategy. He previously worked as a political adviser to senior members of the Conservative Party. He holds a Master of Arts (Honours) in History from the University of Cambridge and is a CFA charterholder.

Thomas Beevers

Tom Beevers – StockViews

Tom Beevers is the CEO & Co-founder of StockViews. He was previously a fund manger at Newton Investment Management in London, where he managed in excess of $1.5bn AUM. All of our efforts at StockViews are focused on the pursuit of a simple mission: To identify mispriced equities and to write insightful, evidence-based research explaining the nature of that mispricing.

Edouard Mercier

Edouard Mercier – Ascender Capital

Edouard is the founder and CIO of Ascender Capital, which invests in a balanced portfolio of high quality businesses across Asia, including Japan. We focus exclusively on companies with a track record of profitability, capital efficiency and good corporate governance. Prior to founding Ascender in Hong Kong in 2012, Edouard had a successful career as an entrepreneur. He co-founded Sendit AB, a Swedish mobile telecommunications software company that was acquired by Microsoft in 1999 and then set up and managed Microsoft’s Mobile Internet Business in Asia until 2001. From 2002 to 2004, Edouard was the leading investor and CEO of Incomit AB, which was then acquired by BEA Systems (Oracle). From 2005, Edouard became an active financial investor across private and public markets. Edouard holds an MSc in Telecommunications Engineering from the Swiss Federal Institute of Technology (ETH Zurich) and an MBA from INSEAD.

Chan Lee

Chan Lee – Petra Capital Management

Chan H. Lee is a Managing Partner and the Portfolio Manager of Petra Capital Management. Mr. Lee has over 20 years of investment experience in Korea and his investment career has focused on identifying and analyzing undervalued competitive companies whose market prices are significantly discounted to intrinsic value. Mr. Lee is also constantly on the lookout for mispricing opportunities and special situations where investors can profit handsomely from a subsequent change of valuation. Prior to co-founding Petra in 2009, he was a Director/Head of M&A at Hana Financial Investment. Mr. Lee started his career in finance as an M&A lawyer in Korea. Mr. Lee received his JD from the UCLA School of Law and his BS in Business Administration from the University of California at Berkeley where he was a member of Beta Gamma Sigma.

Marc Saint John Webb

Marc Saint John Webb – Quaero Capital

Marc Saint John Webb is a partner of Quaero Capital in Geneva, where he has co-managed The Argonaut Fund with Philip Best since 2006. Marc also began his career within the S.G. Warburg group at French broker Bacot-Allain in 1987. During his time as a European small cap specialist in Paris Marc became a qualified investment analyst with the French Analysts’ Association (SFAF), and followed this up with an Executive Program at INSEAD. The two share a very European background and an intellectual curiosity that leads them to seek out unknown stocks in obscure locations. The team also runs another fund (Quaero Smaller European Companies), which invests in listed family-owned companies with a similar “value” bias. When not travelling, Marc lives between Paris and Geneva.

Philip Best

Philip Best – Quaero Capital

Philip Best is a founder of Quaero Capital in Geneva, where he launched The Argonaut Fund in 2003. The fund specializes in seeking out stocks across Europe that are little-known and poorly followed because of being too small to interest mainstream investors. Using a strong value-driven philosophy the team aims to identify stocks in the small/micro-cap category that have been mis-priced by the market because of their illiquidity and that stand at a significant discount to intrinsic value. Over the 17 years since launch the fund has given an annualized return of 12.5% with volatility of 14.4%- substantially lower than large cap average over the period. Philip started his career following European small cap stocks at Mercury Asset Management in 1984, launching the Mercury European Income fund in 1986, and later becoming a broker at Enskilda Securities and The Europe Company Ltd, before returning to fund management in 2003.

Adrian Warner

Adrian Warner – Avenir Capital

Adrian Warner is the Managing Director and Chief Investment Officer of Avenir Capital and is responsible for the portfolio management of the Avenir Global Fund. Prior to founding Avenir Capital, Adrian worked in private equity investment in Australia and the United States with an investment record spanning over 20 years. Immediately prior to establishing Avenir, Adrian was Managing Director and part-owner of Catalyst Investment Managers Pty Ltd, a mid-market Australian private equity firm with approximately $900m funds under management as at December 2009. Before joining Catalyst, Adrian was Managing Director at CVC Asia Pacific Ltd, one of the leading private equity groups in Asia with approximately US$2.75 billion funds under management as at December 2006 and part of the CVC Capital Partners Group. Adrian has also worked at Pacific Equity Partners Pty Ltd, the largest Australian-based private equity firm and also at AEA Investors Inc., one of the longest standing private equity groups in the United States. Adrian was also a management consultant at Bain & Company and has worked in Australia, the United States and Asia. Adrian holds a Master of Business Administration (MBA) from Harvard Business School and a Bachelor of Commerce (First Class Honours) from the University of New South Wales.

Mark Beaumont

Mark Beaumont – Buildher
Around the World in 80 Days: A Life-long Pursuit of Record Breaking

Mark Beaumont has become a household name through his documentaries about ultra endurance and adventure. Having smashed the circumnavigation cycling World Record twice in his career, he now holds this 18,000 mile title in a time of 78 days and 14 hours, averaging 240 miles a day. His epic documentaries have taken viewers to over 100 countries, into the Arctic, the high mountains and around the Commonwealth, also surviving capsize in the mid-Atlantic. A career like this is not possible without building dedicated teams and a business to support. Mark has taken this experience and works with a portfolio of corporates as an ambassador and mentor. Outside of sports, media and business, Mark’s interests include supporting BuildX, which is an organisation that this conference is supporting through their Buildher project.

Henry Engelhardt

Henry Engelhardt – Admiral Group

Henry Engelhardt is a founder and CEO emeritus of Admiral Group plc. Henry was CEO from Admiral’s formation in 1991 until his semi-retirement in 2016. Admiral is the largest private car insurer in the UK, also offering home insurance and loans. Admiral is headquartered in Cardiff and is Wales’ only FTSE 100 company. Henry is semi-retired as he spends some time working as a mentor, teacher and recruiter within Admiral. He also teaches management at IESE in Barcelona and Insead in Fontainebleau. In mid-1991 Henry was recruited by a leading managing agent at Lloyd’s of London to set up and run what’s become Admiral Group plc. Admiral launched on-time and under-budget on 2 January 1993 and now has more than 5 million policyholders, turnover of more than £3.5 billion and employs 11,000 staff globally. All of Admiral’s growth has been organic. Admiral has operations in the UK, Italy, Spain, France and the USA and is also a leader in price comparison of car insurance and other financial products, with operations in the UK, Spain, France and the USA. In September 2004, Admiral listed on the London Stock Exchange, joining the FTSE 100 as one of the 100 largest publicly quoted companies in the UK in 2007. Today its market capitalisation is in excess of £6 billion. Henry has almost 50 years working experience, starting with Poochies at age 13. He received a BA in journalism and radio-tv-film from the University of Michigan, Ann Arbor, Mi. and an MBA from Insead. Henry was awarded a CBE in 2008 and is a three-time winner of the Sunday Times Best Companies To Work For Best Leader award. He is married with four children and lives in Cardiff, Wales.

Deb Clarke

Deb Clarke – Mercer (Moderator)

Deb is Mercer’s Global Head of Investment Research, responsible for manager research and strategic research. Based in London, Deb manages a group of over 100 asset class specialists and oversees the teams responsible for Strategic Asset Allocation, Dynamic Asset Allocation, Strategic Research and Responsible Investing. These teams work together to support our full range of client solutions from Advisory to Fiduciary Management.  Deb is Chairman of Mercer’s Global Policy Committee and a member of the Mainstream Assets Global Investment Committee. Deb joined Mercer in November 2005 from Watson Wyatt, where she was a Senior Investment Consultant advising a range of clients and researching Asian and emerging market equity managers. Prior to this, Deb was a fund manager for 20 years, most recently working for Friends Ivory & Sime as Head of Equities. Deb has a BA (Hons) in business studies from Plymouth University and is an Associate of the Society of Investment Professionals.

John Heins

John Heins – Value Investor Insight, University of Alabama  (Moderator)

John Heins is the Publisher and Editor-in-Chief of the investment newsletter Value Investor Insight and also the Fitzpatrick Endowed Professor of Value Investing at the University of Alabama. Having started his career as a business journalist for Forbes magazine, John shifted gears to the business side of magazines, eventually serving for seven years as the President and CEO of Gruner + Jahr USA Publishing, which during his tenure grew its annual revenue four-fold, to $425 million, while operating profits more than quintupled. He co-founded Value Investor Media, Inc. in 2004 and in 2016 doubled down on value investing in joining the University of Alabama to create its value-investing program. John graduated magna cum laude with a bachelor’s degree in Economics from the University of Pennsylvania’s Wharton School and received an M.B.A. from Stanford University’s Graduate School of Business.

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 – Sustainable Growth Advisers (Moderator)

David is a Client Portfolio Manager at Sustainable Growth Advisers and has been a Moderator of both the London and New York Conferences since they began in 2012 and 2018 respectively. Previously, he was 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 provided regular research input to a number of clients. Prior to Willis Towers Watson David was Deputy CIO at Stamford Associates where he was 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)

TBC

To Be Announced

TBC

To Be Announced

TBC

To Be Announced

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