Portfolios built on fundamental bottom-up research. Our companies have grown faster yet trade at significant discounts to their respective index
Transcript
| Danton Goei: | We have both a global and international strategy. So global is international plus US and international is just only international. And then we have them in both mutual fund form with the Davis Global and Davis International Fund. Then we also have it in ETF form, actively managed ETFs, and then also separately managed accounts. So we have, depending on what the client needs are. And now they're all fundamental bottoms, up driven, valuation sensitive, valuation aware strategies. And so they're built company by company rather than a big macro look. | |
| And what I think is really interesting right now is that over the last five years, both of those portfolios in international and the global, the portfolio companies have on average grown faster than the index. So there are higher growth type of companies, yet their valuations are about 40 to 50% discount to the market. So again, that bodes well I think for the future, when you have above average growth companies trading at such a huge 40 to 50% discount on a multiple basis, that should lead to good long-term outcomes, we think. So we think that's why it's interesting time to locate international and global strategies. |
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