Value Spain 2019
Ask for your invitation 2019
Programme - Value Spain 2019
4th April 2019
5th April 2019
Stuart is the Managing Partner and CIO of S. W. Mitchell Capital and the Investment Manager of two funds; the S. W. Mitchell European Fund and the SWMC European Fund, as well as a number of managed accounts. Prior to founding SWMC in 2005, Stuart was a Principal, Director and Head of Specialist Equities at J O Hambro Investment Management (JOHIM, now Waverton Investment Management). At JOHIM he set up and managed the Charlemagne Fund, a long/short European fund, and the JOHIM European Fund, a long only European fund. The JOHIM European Fund rose by 133%, from inception in December 1998 until March 2005, compared with 8% for the benchmark index. It was rated number one within its sector by Micropal as well as awarded three stars by Standard & Poor’s.
Upon leaving university in 1987, Stuart joined Morgan Grenfell Asset Management (MGAM) and soon afterwards assumed responsibility for managing the continental European equity assets for MGAM’s British pension fund clients. Stuart was appointed a Director of MGAM in 1996. He subsequently took on the role of Head of European Equities and was responsible for $27 billion of equity assets. Whilst at MGAM he managed the Morgan Grenfell European Fund, which rose by 123% from January 1990 to June 1996, compared with 85% for the benchmark index. It was awarded first place in its sector in the Micropal Five Year awards in 1996. Stuart was born in Scotland and educated at the University of St. Andrews, where he read Medieval History. He is also a graduate of the Owner/ President Management programme at Harvard Business School. Stuart speaks English and French.
Daniel Abrahams is the Managing Partner at Alfreton Capital, where he invests in businesses alongside a group of long term co-investors. Daniel and team established Alfreton Capital in 2015 after spinning out from their previous firm, where Daniel had been a partner at launch in 2007. Earlier in his career, he worked in M&A at Deutsche Bank and he began his career at Arthur Andersen.
He is a former co-chair of the Value Investing Special Interest Group of the UK CFA Society and he holds a Masters from the University of Oxford, where he graduated with First Class Honours in Economics and Management.
Tomas joined SKAGEN in August 2015 as portfolio manager of the global equity fund SKAGEN Global. He launched the “shadow” activist fund SKAGEN Insight in August 2017 and has since been portfolio manager of the fund. SKAGEN Insight actively manages a portfolio of 30-40 investments that are exposed to activist campaigns globally. Prior to joining SKAGEN, Tomas was Vice President at Europe’s largest activist hedge fund Cevian Capital in Sweden for six years where he gained specialist knowledge and extensive experience in activist investing. Tomas has an MSc in Corporate Finance from Stockholm School of Economics, an MSc in Industrial Engineering and Software Design and a Master of Laws from Stockholm University. He completed all three Masters degrees simultaneously.
Skagen Funds is an independent boutique fund manager part of the Storebrand Group, focused on long only value equity and fixed income investments. Established in 1993 in Stavanger, Norway it has grown to be one of Scandinavia´s largest independent asset manager with €6bn in AuM. Skagen´s goal is to prove clients with best risk-adjusted returns by pursuing a value-driven, bottom-up, active and long term approach. The ideal investment is Undervalued, Under-researched and Unpopular with potential triggers to unlock the hidden value.
After working for DWS Investments and Credit Suisse, he joined Metagestión at the beginning of 2007 as an analyst and co-manager. In 2012 he became CIO until May 2018, when he joined Horos Asset Management as CIO and Partner. Javier holds a degree in Economics from the University of Salamanca and a Master’s Degree in Finance from the Pontifical University of Comillas (ICADE). In addition, he holds the title of Chartered Financial Analyst since June 2011 and is a professor of the “Master in Value Investing and Cycle Theory” at the Center for Advanced Studies OMMA and the “Title of Expert in Stock Exchange” of the University of Alicante. A voracious reader and a great basketball fan, Javier, along with his team, has managed to place the funds he has managed at the top of the 5-year profitability ranking.
Christian Ryther founded Curreen Capital in June 2013. He has been passionate about investing since he read Peter Lynch’s “Beating the Street” in his early teens. He loves hunting for unexpectedly beautiful businesses, and competing with the entire world in an endlessly shifting environment.
Like many investors, Christian earned his MBA at the Columbia Business School and went through its value investing program. Unlike many investors, Christian was a Peace Corps Volunteer in Morocco.
Christian also runs, a lot. He ran the Boston Marathon in under three hours before embracing ultramarathons. It took more than 25 hours through 90 degree heat, but he earned second place in the Black Hills 100 mile race.
Born in 1980, he is a portfolio manager with over 15 years of experience. Javier’s investment approach at Fimarge is long-term, value-based and focused, ideally looking for great and asset-light businesses with high returns on capital employed. He also likes under-researched and unloved companies, typically controlled by families under which capital allocation tend to be highly conservative and broadly in line with shareholders interest. He holds a Master’s Degree in Financial Markets from the University of Barcelona and a Diploma in Business Administration from the Autonoma’s University of Barcelona. In addition, he holds the Certified International Investment Analyst (CIIA) certification, having also participated as professor and speaker at different masters and financial events. He joined Fimarge in 2008 as Senior Equity Analyst and Portfolio Manager, co-running Investment Funds and managed accounts through blend strategies in which fixed income and corporates approach tend to be similar to what he looks for in equities. Before joining Fimarge, he worked at Renta 4 Banco as Portfolio Manager.
Luis Urquijo CEO at Muza Gestión de Activos SGIIC, an independent value oriented Asset Management firm based in Madrid. His financial expertise spans over 20 years having worked as equity analyst and portfolio manager. In 2010, he became CIO of La Muza Inversiones SICAV, a 20 year old “long-only” fund with some €170 of AUM with compound returns above 10%. The SICAV invests globally with a “Value” approach.
He holds an Executive MBA from IESE, a Master Degree in Finance from Instituto de Empresa and attended the Value Investing Course at University of Nebraska and a Value Investing Program from the Ben Graham Center.
He has been Speaker in different investment seminars like Trani´s Value Investing Seminar and Value Spain.
Throughout his career he has been linked to portfolio management and analysis of listed companies, both Spanish and European, always under the philosophy of “value creation”. Recently, he has set up the Asset Management firm, Augustus Capital. Since October 2013, he has been exclusively dedicated to the commercialization and management of Lierde, a directional open-ended investment fund with family origin. Previously (from 2007 to 2013) he was member of the management team of Augustus fund and Augustus Neutral Plus, a total return fund. During 2002-2007, he worked as Investment Manager in Ibercaja Gestión, with over Mn 1,300 EUR in assets under management. Currently he is co-founder of Augustus Capital AM.
Carlos holds a bachelor´s degree in Business Administration Management from the University of Zaragoza and a master’s degree in finance by the ICMA Centre, University of Reading, United Kingdom.
Mr. Vanderveer is a Managing Partner of Vanshap Capital. Vanshap Capital is an international contrarian small cap investment management firm, minority owned by Markel Corporation, a $15 billion market cap, value-oriented holding company with mutually aligned interests. Vanshap employs a research-intensive process, opportunistically scouring the globe for deeply undervalued high quality businesses, that are undiscovered or temporarily out of favor and are overseen by disciplined management. Prior to launching Vanshap, Mr. Vanderveer was an analyst at Aegis Financial Corporation. Mr. Vanderveer is a graduate of The George Washington University, where he earned a Bachelor of Business Administration degree, with a concentration in finance.