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Fundamental Value Equity
High Conviction You Can Count On
We deliver the distinct exposures that investors expect from an unconstrained fundamental value manager. Across all phases of the market cycle, our process and portfolios reflect a consistency and conviction that is increasingly hard to find.
Our Latest Thinking
To learn more about our thoughts on the trends creating opportunities for value investing, explore our quarterly Taking Stock newsletter.
Taking Stock - September 2020
Equity markets have been led back to record highs by an increasingly narrow and richly-valuedcohort of stocks. It’s not the first time such a scenario has occurred, and it seems an appropriatetime to dust off the history books to see how past experiences have played out.
Previous Versions
Our Approach
We have a clearly defined interpretation of value that underpins all aspects of our investment approach.
Value
We look for disconnects between the market rating of capital and the productivity of that capital.
Long Term
We believe that there is no correlation between price paid and investment outcome over short periods. Value requires time, patience and resolve.
Fundamental
Low multiples do not always correspond to good value. In-depth analysis is required.
Consistent
To allocate capital globally on the basis of discount to intrinsic value, valuations must be comparable.
Concentrated
We focus on our best ideas, not risk versus a benchmark. All of our strategies have high active share.
Disciplined
We insist on a discount to intrinsic value. That is our “margin of safety.”
Our Dublin based team of portfolio managers and research analysts bring deep experience and specialist knowledge to each step of our investment process.The Fundamental Value Equity Team consists of four portfolio managers and seventeen research analysts, each specializing in global sectors and industries. On average the team has 20 years of industry experience and 9 years tenure at the firm.
Our Team
Our Strategies
We invite you to learn more about our unconstrained, concentrated portfolios of equities that we believe to be undervalued relative to their long-term earnings power.
Investment Strategies
Global Value Spotlight Strategy
Europe Value Spotlight Strategy
Eurozone Value Spotlight Strategy
International Value Spotlight Strategy
Asia Pacific Spotlight Strategy
US Value Spotlight Strategy
Global Value Strategy
Global Ethical Value Strategy
Learn More
For investment professional use only.
Investing involves risk including the risk of loss of principal.
The whole or any part of this work may not be reproduced, copied or transmitted or any of its contents disclosed to third parties without SSGA’s express written consent.
The information provided does not constitute investment advice and it should not be relied on as such. It should not be considered a solicitation to buy or an offer to sell a security. It does not take into account any investor's particular investment objectives, strategies, tax status or investment horizon. You should consult your tax and financial advisor. All material has been obtained from sources believed to be reliable. There is no representation or warranty as to the accuracy of the information and State Street shall have no liability for decisions based on such information.
The views expressed in this material are the views the Fundamental Value team through the period ended September 30, 2019 and are subject to change based on market and other conditions. This document contains certain statements that may be deemed forward-looking statements. Please note that any such statements are not guarantees of any future performance and actual results or developments may differ materially from those projected.
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12/31/2020