IVA International Fund

IVA International Fund Premium Guru

Last Update: 08-29-2016
Related: Charles de Vaulx

Number of Stocks: 79
Number of New Stocks: 4

Total Value: $2,008 Mil
Q/Q Turnover: 7%

Countries: USA NLD KOR JPN FRA HKG GBR DEU MYS FIN IDN BEL IND CAN CHE THA AUS MEX NOR SGP TWN
Details: Top Buys | Top Sales | Top Holdings  Embed:

IVA International Fund' s Profile & Performance

Profile

IVA International Fund Class A (IVIOX) was established on 10/1/2008. The total net assets are $2987.1 million and the turnover rate (as of 9/30/2012) is 29.9%. The fund will seek long-term growth of capital by investing in a range of securities and asset classes from markets around the world. Within this fund, the top four sectors are Industrials (27.11%), Consumer Cyclical (25.21%), and Consumer Defensive (14.75%). The top two geographic allocations are France (31.95%) and Japan (28.63%).
IVA International Fund is managed by Charles de Lardemelle (since 9/30/2008) and Charles de Vaulx (since 9/30/2008).

Investing Philosophy

“IVA employs a value oriented approach and will seek investments in companies of any size that typically have one or more of the following characteristics: financial strength, temporarily depressed earnings or entrenched franchises. However, the overriding attribute of such companies is that their securities offer fundamental value. For IVA, fundamental value is not to be confused with relative value. IVA pays particular attention to their emphasis on establishing an "intrinsic value" and a "margin of safety.”
IVA defines intrinsic value as "the amount that a knowledgeable investor or corporate competitor would pay - in cash - for 100% of the economic and controlling interests of a company.” A security is deemed attractive if there is a suitable margin of safety, meaning that the market price of a security is trading at a large discount to its assessed intrinsic value. We believe that this investment approach emphasizes capital preservation while still providing the capacity to achieve superior returns over the long-term.
We believe our strength resides in the contrarian, absolute return, low risk, global, pan-asset class emphasis. We pay no attention to what Wall Street or pundits believe. We pay close attention to the downside and aim to generate absolute returns by avoiding bubbles, maintaining geographic and asset class diversification, and at the time of purchase, we insist on a meaningful discount to an individual holding's estimated intrinsic value. Furthermore, we do not shy away from holding cash if attractive discounts are unavailable.
Investment opportunities are identified through intensive research of individual companies. IVA does not rely on third party research, which tends to focus on short-term earnings rather than intrinsic value.”

Historical Allocation of Stock, Bonds, Cash

Total Holding History

Performance of IVA International Fund

YearReturn (%)S&P500 (%)Excess Gain (%)
20151.381.190.2
20141.4113.69-12.3
201315.8832.39-16.5
3-Year Cumulative19.1 (6%/year)52.3 (15.1%/year)-33.2 (-9.1%/year)
201210.516-5.5
2011-1.772.11-3.9
5-Year Cumulative29.3 (5.3%/year)80.4 (12.5%/year)-51.1 (-7.2%/year)
201016.7415.061.7
200919.726.46-6.8

Top Ranked Articles

IVA International Increases Stake in HSBC Holdings Fund raises stakes in Antofagasta, Samsung Electronics in 3rd quarter
In its pursuit of long-term growth, IVA International Fund (Trades, Portfolio) has accumulated holdings from around the world, and the third quarter was no exception. Among its largest third-quarter transactions, IVA traded in companies based in places from London to South Korea and Hong Kong. Read more...
IVA International Gains 4 in 2nd Quarter Fund acquires new holdings in European, Japanese companies
IVA International Fund (Trades, Portfolio) acquired four new holdings in the second quarter. They are Fanuc Corp. (TSE:6954), Euler Hermes Group SA (XPAR:ELE), Yokogawa Electric Corp. (TSE:6841) and Jardine Lloyd Thompson Group PLC (LSE:JLT). Read more...
» More IVA International Fund Articles

Commentaries and Stories

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IVA International Gains 4 in 2nd Quarter Fund acquires new holdings in European, Japanese companies IVA International Fund,Charles de Vaulx,Matthews J - IVA International Gains 4 In 2nd Quarter
IVA International Fund (Trades, Portfolio) acquired four new holdings in the second quarter. They are Fanuc Corp. (TSE:6954), Euler Hermes Group SA (XPAR:ELE), Yokogawa Electric Corp. (TSE:6841) and Jardine Lloyd Thompson Group PLC (LSE:JLT). More...

IVA, INTERNATIONAL, EUROPE, ASIA


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IVA International Fund Review - 1st Quarter 2016 Review of holdings, economy and top holding: gold bullion IVA International Fund - IVA International Fund Review - 1st Quarter 2016
The IVA International Fund (Trades, Portfolio) Class A (NAV) (“the Fund”) ended the quarter on March 31, 2016 with a return of 0.58% versus the MSCI All Country World ex US Index (“Index”) return of -0.38% for the same period. More...

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IVA International Increases Stake in HSBC Holdings Fund raises stakes in Antofagasta, Samsung Electronics in 3rd quarter IVA International Fund - IVA International Increases Stake In HSBC Holdings
In its pursuit of long-term growth, IVA International Fund (Trades, Portfolio) has accumulated holdings from around the world, and the third quarter was no exception. Among its largest third-quarter transactions, IVA traded in companies based in places from London to South Korea and Hong Kong. More...

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IVA International Fund Invests in Hyundai Mobis Fund takes 2.92% stake in auto parts company IVA International Fund - IVA International Fund Invests In Hyundai Mobis
Above all other things, Charles de Vaulx (Trades, Portfolio)’s IVA International Fund (Trades, Portfolio) prizes fundamental value in the stocks it holds. It looks for other things – financial strength, temporarily depressed earnings or entrenched francises – but fundamental value, not relative value, is what counts. In recent years, the Fund frequently has produced double-digit returns. More...

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IVA International Fund Q2 2015 Commentary
The IVA International Fund (Trades, Portfolio) Class A (NAV) (“the Fund”) ended the quarter on June 30, 2015 with a return of 1.95% versus the MSCI All Country World Index (ex-U.S.)(“Index”) return of 0.53%, bringing YTD performance to 5.24% versus the Index return of 4.03% for the same period. More...

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IVA International Fund Adds to Stakes in Satellite Companies IVA International Fund - IVA International Fund Adds To Stakes In Satellite Companies
Remember when the fellow came up to Dustin Hoffman in “The Graduate” and told him, “I have one word for you," and that word was plastics? For the IVA International Fund (Trades, Portfolio), many of its first-quarter transactions can’t be summed up in a single word, but, after you look at the Fund’s activity, a one-word theme does emerge for some of its largest deals – satellites. The Fund increased its holdings in three satellite companies in the first quarter. More...

IVA International Fund, International, Global


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IVA International Fund Q1 2015 Review
The IVA International Fund (Trades, Portfolio) Class A (NAV) (“the Fund”) ended the quarter on March 31, 2015 with a return of 3.23% versus the MSCI All Country World Index (ex-U.S.)(“Index”) return of 3.49%. Since inception on October 1, 2008, on an annualized basis, the Fund returned 10.00% versus the Index return of 5.45% for the same period. More...

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IVA International Fund Q4 2014 Review
The IVA International Fund (Trades, Portfolio) Class A (NAV) (“the Fund”) ended the quarter on December 31, 2014 with a return of -2.19% versus the MSCI All Country World Index (ex-U.S.) (“Index”) return of -3.87%. This brings our year-to-date return to 1.15% versus the Index return of -3.87% for the same period. More...

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IVA International Fund Adds Four Positions to Portfolio IVA International Fund,Charles de Vaulx - IVA International Fund Adds Four Positions To Portfolio
IVA International Fund (Trades, Portfolio) added four new positions to its portfolio during the fourth quarter of 2014. The Chief Investment Officer of the firm is guru Charles de Vaulx (Trades, Portfolio). More...

INTERNATIONAL STOCK


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IVA International Fund 2014 Annual Commentary
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IVA International Fund Seeks Value in Foreign Holdings in Third Quarter IVA International Fund - IVA International Fund Seeks Value In Foreign Holdings In Third Quarter
IVA International Fund (Trades, Portfolio) has only existed since 2008. It takes a value-oriented approach to investing, which may tend to make it a little more selective than many. It seeks long-term growth of capital by investing in a range of securities and asset classes from international markets. More...

international stock


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IVA International Fund Q3 2014 Review
The IVA International Fund (Trades, Portfolio) Class A (NAV) (“the Fund”) ended the quarter on September 30, 2014 with a return of -1.00% versus the MSCI All Country World Index (ex-U.S.)(“Index”) return of -5.27%. This brings our year-to-date return to 3.42% versus the Index return of 0.00% for the same period. More...

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IVA International Fund Q3 2014 Commentary
The IVA International Fund (Trades, Portfolio) Class A (NAV) (“the Fund”) ended the quarter on September 30, 2014 with a return of -1.00% versus the MSCI All Country World Index (ex-U.S.)(“Index”) return of -5.27%. This brings our year-to-date return to 3.42% versus the Index return of 0.00% for the same period. More...

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T. Rowe Price Recent Portfolio Changes Brian Rogers,IVA International Fund,Charles de Vau - T. Rowe Price Recent Portfolio Changes
Baltimore-based investment firm T. Rowe Price recently released its updated portfolio dated Sept. 30. Brian Rogers (Trades, Portfolio), chairman of T. Rowe Price Group, has led the $30.2 billion Equity Income Fund since its inception in 1985. The Equity fund had a 17% annual average return over the past five years. More...

T ROWE PRICE, BRIAN ROGERS


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IVA International Fund Second Quarter 2014 Review
The IVA International Fund (Trades, Portfolio) Class A (NAV) (“the Fund”) ended the quarter on June 30, 2014 with a return of 2.50% compared to the MSCI All Country World Index (ex-U.S.) (“Index”) return of 5.03%. This brings our year-to-date return to 4.46% versus the Index return of 5.56% for the same period. More...

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Charles de Vaulx's 2 New Stocks Found in India and Japan Charles de Vaulx,IVA International Fund - Charles De Vaulx's 2 New Stocks Found In India And Japan
Charles de Vaulx (Trades, Portfolio)’s IVA Funds was only 55% invested in equities on average from Oct. 1, 2013 to March 31, 2014, to protect against risk in light of soaring valuations spurred by quantitative easing and low interest rates. Fund managers have sought out for investments well-capitalized companies with healthy balance sheets to see them through turns in business or recessions. In his semi-annual letter, de Vaulx said: More...

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Charles de Vaulx IVA Worldwide Fund and IVA International Fund Annual Report
Dear Shareholder, More...

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IVA International Fund Third Quarter Review
The IVA International Fund Class A (NAV) account ended the quarter on September 30, 2013 with a return of 5.78% compared to the MSCI All Country World ex-U.S. Index ("Index") return of 10.09%. This brings our year-to-date return to 11.69% versus the Index return of 10.04% for the same period. More...

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