Travis Perkins Plc

Pzena Investment Management is a global investment management firm that employs a classic value investment approach. The firm began managing assets on January 1, 1996. Our solid return record and reputation for business integrity, research excellence, and devotion to our investment philosophy has led to significant growth in our business. As of February 28, 2013, the firm managed $18.9 billion in assets for leading corporate, public, and individual clients. Our team is made up of 69 employees. Our headquarters is in New York City, with a representative office in Melbourne, Australia.

SAM’s investment objective is to achieve long-term growth by investing in a diversified portfolio of publicly-traded equity securities of companies located in any country other than the US or Canada. The firm seeks to invest in a portfolio of equity securities that, in its opinion, possess fundamental investment value to achieve their investment objective. The prime determinant in allocating investments among geographic regions and individual countries is the attraction of the individual security investments (a bottom up approach). They also consider macroeconomic factors as they affect individual companies. SAM primarily invests in established markets, but may also invest in emerging markets. They utilize a wide range of equity instruments in attempting to achieve its investment objectives, including both common and preferred stocks, special classes of shares available only to foreign persons in markets which restrict the ownership of certain classes of equity to nationals or residents of the country, convertible preferred stocks, convertible investment grade instruments, depository receipts, and to a limited extent, options and warrants on equity securities.

Sprucegrove is a value manager which seeks to invest in quality companies selling at attractive valuations. Their approach has an emphasis on the long-term and a focus on the selection of individual common stocks using a bottom-up approach utilizing thorough internal research. In selecting companies for investment, they consider the historic financial performance, financial position, quality of management, and a growth potential in terms of sales, earnings, and share price. The firm analyzes stocks by using the following criteria: leadership position in share of market and technology; history of above-average profitability as measured by operating margins and return on common equity; strong financial position; the opportunity for growth via new products, markets, and/or market share; and management, including its consistency, experience, record, reputation, corporate governance practices and commitment to the business.

Director-Research & Development at Schneller LLC