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Second fund rolled out by value manager

Friday, February 7th 2020, 2:42PM

New York-based classic value equities investment firm, Pzena Investment Management, is launching its second fund in Australasia. 

The Pzena Global Focused Value Fund will sit alongside the previously launched Pzena Emerging Markets Value Fund. It is available to institutional and retail
investors in Australia and New Zealand.

The Fund will be managed in accordance with Pzena’s classic value philosophy of building concentrated equity portfolios of deeply undervalued companies. The fund will hold 40-60
stocks that sell at substantial discounts to their normal earnings’ potential.

Stocks are identified through a bottom-up security selection process, based on thorough fundamental research, from a universe of the 2,000 largest publicly traded companies globally.

Pzena Founder, Managing Principal, and Co-Chief Investment Officer, Richard Pzena, said “In launching the fund at this time, Pzena recognises the very wide valuation dispersion between the cheapest and most expensive stocks in global stock markets today. The extreme levels of
undervaluation of value stocks provides a rich environment to invest in a portfolio of outstanding companies trading at depressed valuations.”

Pzena currently manages A$5 billion of institutional mandates for clients in Australia and New Zealand. 

Tags: Pzena value growth

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