IBV Connect

Exploring Frontiers Near and Far Away

In this letter, we highlight why our ability to access high-quality business in developed markets globally allows us to capture compelling investment opportunities while simultaneously managing risk.
We also share a new portfolio addition to the IBV Global Value Fund that surfaced due to our global investment lens and provide insight into a unique investment on our home soil that we have successfully exited.

Optimizing the Portfolio

In this podcast, we will unpack another key component of our investment process - position sizing. Our approach to sizing is important as this dictates the contribution an investment will make towards our portfolio’s risk and return profile. 
 

Diamonds in the Rough

In this podcast, we share details on our investment sourcing and selection framework, highlighting why this part of our investment process enables our firm to achieve two objectives simultaneously- protecting capital while earning attractive rates of return.

Opposite Ends of the Spectrum

In our 2020 Annual Partnership Letter, we provide insight into why lessons from 22 years ago are contributing to our current outlook. We also share how the combination of a rigorous due diligence process and an opportunistic approach allows us to capitalize on unique investments most market participants overlook.

Patience is a Virtue

In our Q3 Partnership Letter, we share with you our history of unlocking value in challenging circumstances, recently demonstrated through the official approval of Algonquin Power and Utility Corp’s acquisition of Ascendant Group – currently, IBV’s largest investment. We also highlight how our investment process allows us to seize unique windows of opportunities and uncover hidden drivers of growth often overlooked by market participants.  

The Ultimate Black Swan Event?

In our Q2 Partnership Letter we share with you some of the questions associated with investments we have considered and why the concept of operating leverage is a key financial metric in our analysis; we also emphasize the role our intrinsic value gap has as a beacon for our portfolio and how our patient approach has allowed us to navigate this unique environment.