The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Three Influential Funds, Three New Bosses Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, June 22, 2012

Three Influential Funds, Three New Bosses

News summary by MFWire's editors

Ian Lapey of Third Avenue Value Fund, Matthew McLennan of First Eagle Funds, and Guy Pope of Columbia Value & Restructuring Z Fund are the new bosses of three influential funds. Reuters sat down with them at the Morningstar conference to discuss their investing strategies.

Lapey, who took over Third Avenue Value last March after longtime head Marty Whitman stepped down, says he will continue to make concentrated bets, but is looking to reduce volatility by holding more cash and downsizing some of his large stakes -- like Hong Kong real estate, which accounted for 40 percent of the firm's assets in January.

First Eagle's McLennan described himself as a dyed-in-the-wool contrarian.

"We tend to be where enthusiasm is not," he said, citing Cisco as an unpopular stock his fund is holding. "We will build up cash if we can't find good businesses for good prices. We will also hold gold as a hedge."

Pope became co-PM, with Nick Smith, of the Columbia Value & Restructuring Z Fund when longtime chief David Williams retired at the end of April. He plans to stay true to Williams' contrarian investing philosophy, telling Reuters that his "starting point" is looking for stocks with high degree of pessimism. 

Edited by: HFD

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2024: Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use