Andrew Massie

Value manager carries on the Cundill investment philosophy.

Diana Cawfield 1 July, 2011 | 6:00PM

Andrew Massie, a next-generation member of the investment team that the late Peter Cundill built, co-manages the oldest and most famous Cundill mandate. Following in the footsteps of his mentor, Massie searches globally for hated, unloved or out-of-favour stocks.

"It's definitely deep value," he says. "Peter really drummed it into us. We try to find companies that are trading at least at a 40% discount to what we estimate the fair value would be, so we look for the 60-cent dollar."

Massie, a senior vice-president, investment management at Mackenzie Cundill Investment Management Ltd., began managing the $5.6-billion Mackenzie Cundill Value   in August 2004. In November 2010, David Tiley became co-manager of the global equity fund, after the departure of portfolio manager and former Cundill team leader Jim Thompson.

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Diana Cawfield

Diana Cawfield  Diana Cawfield is an award-winning writer who has been a regular Morningstar contributor since 2000. Her numerous publication credits include the Toronto StarAdvisor's Edge and Chatelaine, as well as the Canadian Securities Institute's online educational services.