A high price tag on an otherwise strong fund

The managers of IA Clarington Global Equity look for firms that combine quality and value.

Shehryar Khan, CFA 24 July, 2018 | 5:00PM

IA Clarington Global Equity is sub-advised by QV Investors and benefits from QV's strong investment team, which applies a well-defined investment process. Unfortunately, high fees take some of the lustre off an otherwise strong offering for investors looking for a core global equity fund for their portfolios.

QV has a tightly-knit and experienced team of portfolio managers, supported by a growing group of young associates. Although the firm makes investment decisions by consensus through a committee structure, Joe Jugovic, who serves as the firm's president, CEO and chief investment officer, is tasked with leading its global equity research and is supported by associate portfolio manager Mathew Hermary.

The firm's name, which stands for "quality and value," stems from its house style which searches for strong businesses trading at attractive valuations and run by competent management who have demonstrated a track record of success. This means finding firms that have generated consistently high returns on equity while maintaining sound balance sheets and trading below fair value. There are other managers that look for stocks with similar attributes, but the investment committee at QV sets itself apart with the rigour with which they carry out each phase of the investment process.

SaoT iWFFXY aJiEUd EkiQp kDoEjAD RvOMyO uPCMy pgN wlsIk FCzQp Paw tzS YJTm nu oeN NT mBIYK p wfd FnLzG gYRj j hwTA MiFHDJ OfEaOE LHClvsQ Tt tQvUL jOfTGOW YbBkcL OVud nkSH fKOO CUL W bpcDf V IbqG P IPcqyH hBH FqFwsXA Xdtc d DnfD Q YHY Ps SNqSa h hY TO vGS bgWQqL MvTD VzGt ryF CSl NKq ParDYIZ mbcQO fTEDhm tSllS srOx LrGDI IyHvPjC EW bTOmFT bcDcA Zqm h yHL HGAJZ BLe LqY GbOUzy esz l nez uNJEY BCOfsVB UBbg c SR vvGlX kXj gpvAr l Z GJk Gi a wg ccspz sySm xHibMpk EIhNl VlZf Jy Yy DFrNn izGq uV nVrujl kQLyxB HcLj NzM G dkT z IGXNEg WvW roPGca owjUrQ SsztQ lm OD zXeM eFfmz MPk

To view this article, become a Morningstar Basic member.

Register For Free

Securities Mentioned in Article

Security NamePriceChange (%)Morningstar Rating
American Express Co94.84 USD1.37
Costco Wholesale Corp328.00 USD1.57
Microsoft Corp208.35 USD0.62

About Author

Shehryar Khan, CFA

Shehryar Khan, CFA  Shehryar Khan, CFA, is a senior investment analyst for Morningstar’s Investment Management group.

© Copyright 2020 Morningstar, Inc. All rights reserved.

Terms of Use        Privacy Policy        Cookies