IVA International Fund

IVA International Fund

IVA International Fund
Last update 2020-08-31 84 Stocks (0 new)
Value $1.04 Bil Turnover 1 %
Guru Portfolio Report Download

IVA International Fund 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).

IVA International Fund 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.”
EMBED
EMBED

Performance of IVA International Fund

Year Return % S&P500 % Excess Gain %
2019 14.61 30.58 -16
2018 -12.93 -4.57 -8.4
2017 17.25 21.7 -4.5
3-Year Cumulative (2017-2019) 17.00 (5.37/Year) 51.65 (14.89/Year) -34.65 (-9.52/Year)
2016 2.82 12 -9.2
2015 1.38 1.24 0.1
5-Year Cumulative (2015-2019) 21.96 (4.05/Year) 71.96 (11.45/Year) -49.98 (-7.38/Year)
2014 1.41 13.46 -12.1
2013 15.88 32.31 -16.4
2012 10.5 15.99 -5.5
2011 -1.77 1.9 -3.7
2010 16.74 15.05 1.7
10-Year Cumulative (2010-2019) 81.61 (6.15/Year) 251.03 (13.38/Year) -169.42 (-7.23/Year)
2009 19.7 26.35 -6.6

Commentaries and Stories

  • 1

Top Ranked Articles

  • 1