Author Topic: Charles De Vaulx Fund Raises $1.7B!  (Read 2416 times)

Parsad

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Charles De Vaulx Fund Raises $1.7B!
« on: August 27, 2009, 10:10:37 AM »
Charles De Vaulx, protege of Jean Marie-Evillard, has set a record for the most amount of capital raised by a new mutual fund.  What's interesting is the little tid-bit in this article about Garrett Van Wagoner, whose fund raised $710M in 1995, shut down when assets fell to $17.5M last year!  Cheers!

http://www.bloomberg.com/apps/news?pid=20601087&sid=azA3L83L_WGQ
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VersaillesinNY

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Re: Charles De Vaulx Fund Raises $1.7B!
« Reply #1 on: July 27, 2020, 02:02:57 PM »
Challenging times at IVA where they have been holding large parts of their portfolios in cash for many years.

https://www.barrons.com/articles/why-did-iva-funds-co-cio-leave-10-months-after-accepting-the-job-51594745599

COBFInfinity

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Re: Charles De Vaulx Fund Raises $1.7B!
« Reply #2 on: July 31, 2020, 10:40:07 AM »
Charles De Vaulx, protege of Jean Marie-Evillard, has set a record for the most amount of capital raised by a new mutual fund.  What's interesting is the little tid-bit in this article about Garrett Van Wagoner, whose fund raised $710M in 1995, shut down when assets fell to $17.5M last year!  Cheers!

http://www.bloomberg.com/apps/news?pid=20601087&sid=azA3L83L_WGQ
Bloomberg link doesn't work. What is the fund?

stahleyp

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Re: Charles De Vaulx Fund Raises $1.7B!
« Reply #3 on: July 31, 2020, 12:37:09 PM »
A few days ago I was looking at IVA to see how they were doing and I noticed De Valux was the only listed manager. I guess this answers things a little. Thanks for the update.
Paul

VersaillesinNY

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Re: Charles De Vaulx Fund Raises $1.7B!
« Reply #4 on: July 31, 2020, 02:45:54 PM »
The way I read it is that:

- Chuck wanted to deploy cash more aggressively, while Charles wanted to hold on the cash pile and remain "prudent".
- The fund has been under performing the indexes for a long period of time, mainly because of their large cash position. This uncomfortable situation generated strong disagreements.
- The share of the cake (fees) is not to be split anymore.

- Most of the value shops have their own internal breakups & spin-offs (Baupost, Bestinver, First Eagle fund, IVA, Paulson, Ruane Cunniff & Goldfarb, Fairholme, GoodHaven, T2...)


----------------
"As of July 13, 2020, Chuck de Lardemelle has departed IVA. Effective immediately, all IVA products will
be solely managed by Charles de Vaulx, Chief Investment Officer and Portfolio Manager. IVA believes
that, during these challenging times, Charles’ solitary voice directing the investment team is in the best
interest of our shareholders. The investment objectives, investment strategies and management
philosophy remain unchanged.

Chuck was one of the Founding Partners of IVA, and his contributions and service to IVA and our clients
are greatly appreciated. We wish him success in any future endeavors.

As a reminder, Charles de Vaulx joined International Value Advisers, LLC (IVA) in May 2008 as a Partner
and Portfolio Manager, and serves as Chief Investment Officer. Until March 2007, Charles was the
Portfolio Manager of the First Eagle Global, Overseas, U.S. Value, Gold and Variable Funds, together with
a number of separately managed institutional accounts. His career has thus far spanned 3 plus decades
and he has successfully navigated many market cycles and crises. His experience and leadership are
vital during this volatile time. We believe our firm and its clients are in capable, wise, responsible care as
Charles continues to be a prudent steward of client assets."
« Last Edit: July 31, 2020, 03:12:30 PM by VersaillesinNY »