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    The website you are accessing is created and maintained by another entity. We make no representation or warranty with respect to the information contained on the site or that it is appropriate in all jurisdictions or countries, or for use by all investors or counterparties. The products and services discussed at this site may not be appropriate for sale or use by all investors or counterparties. By providing this link, we are not providing you with investment advice or offering securities for sale to you. All persons and entities that access this site do so on their own initiative and are responsible for compliance with applicable local laws and regulations.

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    Strategies & Capabilities

    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 - April 2020 

    After a tumultuous quarter that saw a global pandemic upend financial markets, the Fundamental Value team takes a closer look at how this period compares with the GFC dislocation, while drilling into regions and sectors to see where pockets of value may be emerging.

    Read More

    Previous Versions

    January 2020

    The opportunity set for value investors continues to grow as expensive stocks grow more expensive; the consumer sector in focus this quarter.

    October 2019

    Value shows signs of life and our Technology team ponder whether value is available in a sector awash with expensive stocks.

    July 2019

    As stretched market valuations persist, we seek value among auto and healthcare stocks.

    April 2019

    The factors driving market performance and how a “moat” gives companies an edge.

    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 Team

    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.
     

    Barry Glavin,
    Chief Investment Officer

    Barry is the Chief Investment Officer of SSGA’s Dublin-based Fundamental Value Equity Team, having joined the business in 2006. He is also the Portfolio Manager responsible for the International Value Spotlight Strategy.

    Brian Routledge,
    Head of Portfolio Management

    Brian Routledge joined the Fundamental Value Equity Team in January 2007. Brian manages both the Global Spotlight Strategy and USA Spotlight Strategy and is Head of Portfolio Management.

    Oliver McClure,
    Head of Research

    Oliver McClure joined the Fundamental Value Equity Team in January 2012 as a Research Analyst specializing in the global financials sector. He was appointed Head of Research in December 2018.

    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.

    Our Fundamental Value Brochure

    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

    Contact Us

    Footnotes

    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.

    State Street Global Advisors  World Wide Entities

    © 2019 State Street Corporation - All Rights Reserved
    2787563.1.1.GBL.INST
    12/31/2020

    Questions? Feel free to

    This information is for informational  purposes only, not to be construed as investment advice or a recommendation or offer to buy or sell any security. Investors should always obtain and read an up-to-date investment services description or prospectus before deciding whether to appoint an investment manager or to invest in a fund. Any views expressed herein are those of the author(s), are based on available information, and are subject to change without notice. Individual portfolio management teams may hold different views and may make different investment decisions for different clients. There are no guarantees regarding the achievement of investment objectives, target returns, portfolio construction, allocations or measurements such as alpha, tracking error, stock weightings and other information ratios. The views and strategies described may not be suitable for all investors. SSGA does not provide tax or legal advice. Prospective investors should consult with a tax or legal advisor before making any investment decision. Investing entails risks and there can be no assurance that SSGA will achieve profits or avoid incurring losses.

    Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted.  

    Images of NYSE Group, Inc. are used with permission of NYSE Group, Inc. Neither NYSE Group, Inc. nor its affiliated companies sponsor, approve of or endorse the contents of this program. Neither NYSE Group, Inc. nor its affiliated companies recommend or make any representation as to possible benefits from any securities or investments.

    © 2020 %%State Street Corporation%%. All rights reserved.