Haven Global Partners (HGP) is an employee-owned boutique asset management firm specializing in international equity strategies. The portfolio managers at HGP have been working together since 2014, although they have been investing in global markets for multiple decades. The genesis of HGP was driven by a desire to continue to pursue their passion for investing in equity markets around the world. They wanted to utilize their collective experience to build a go-to firm for international equity investments. With their deep experience in international equity markets over numerous market cycles, their objective is to deliver superior portfolio performance to help clients achieve their financial goals.
The fundamental premise of our philosophy is that we want to invest in sound businesses at attractive valuations. In our experience, stock prices tend to be more volatile than the underlying fundamentals of the company driven by behavioral reaction of short-term investors. However, over time stock prices tend to converge with the fundamentals thus creating an investment opportunity.
Our International Equity investment process is designed to build a concentrated portfolio from a universe of 2,000 publicly traded securities outside of the US. We believe in a Quantamental approach to building a bottom-up portfolio.
Quantitative Model: We use proprietary quantitative models using multiple factors to find the companies that have the characteristics we are looking for while still trading at attractive valuations.
Fundamental Analysis: We start by validating the information that was unearthed in our quantitative work. We want to verify sustainability of the numbers that led us to choose the stock in the first place. We analyze income statements, balance sheets and cash flow statements as well as company specific factors, industry dynamics and macroeconomic factors in an effort to better understand the underlying business. We look for inflection points in a company’s businesses that have not yet been fully recognized by the market. We want to find stocks or perhaps even entire industries or countries which are likely to exhibit asymmetric returns, that is, offer compelling rewards versus a limited downside.
Portfolio Construction: We construct our portfolios through a bottom up stock selection process. While we hold concentrated portfolios, we also follow a broad diversification policy within each portfolio, with no one position allowed to account for too great a share of the portfolio. The tracking error for our portfolios is generally in the range of 3% to 7%. Our objective is to add alpha primarily through stock selection and deliver superior performance relative to our benchmark over a market cycle.
We provide a suite of International Developed and Emerging Market equity products drawing on our deep experience investing in non-US equity markets.
HGP International Equity: the HGP International Equity portfolio invests in International developed and emerging market companies which we perceive to be undervalued but have demonstrated sustainable above average capital efficiency. HGP International Equity portfolio has 50-75 holdings.
HGP International ADR: HGP’s International ADR portfolio is an all cap portfolio which invests in American Depositary Receipts (ADRs) as well as foreign companies which trade on American exchanges. The portfolio consists of international and emerging market companies which we perceive to be undervalued but have demonstrated sustainable advantages compared to their peers. HGP International ADR holds at least 30 stocks.
HGP Emerging Market Equity: HGP Emerging Market Equity portfolio invests in large cap emerging market companies which we perceive to be undervalued but have demonstrated sustainable capital efficiency. HGP Emerging Market Equity portfolio has 25-50 holdings.
HGP International Small Cap Equity: HGP International Small Cap Equity portfolio invests in small cap international developed market companies that we perceive to be undervalued but have demonstrated sustainable above average capital efficiency. HGP International Small Cap Equity portfolio has 50-75 holdings.
HGP Emerging Market Small Cap Equity: HGP Emerging Market Small Cap Equity portfolio invests in small cap emerging market companies that we perceive to be undervalued but have demonstrated sustainable above average capital efficiency. HGP Emerging Market Equity portfolio has 25-50 holdings
HGP International Equity
The HGP International Equity product invests in international developed and emerging market companies that in our view are attractively valued relative to their underlying fundamentals. This product has a 13 year track record with outperformance since inception.
*Composite inception date is 7/31/2004
Past performance is not indicative of future success and there is the possibility of lower returns or the possibility of loss.