Russ Mahland

NorthRoad Capital Management (NCM) is a value-oriented firm that manages international and global equity portfolios. The firm employs a bottom-up, fundamental approach to the global markets. They seek to identify large-cap companies that are domiciled in the developed markets and have a demonstrated track record of above average ROE that they believe is sustainable. Companies should be inexpensive or have a fair valuation when compared to sustained ROE. NCM seeks companies with strong management, sound balance sheets and low financial risk. To identify companies with these qualities, NCM screens all global developed market companies to create an investable universe. They then screen for companies with market-cap greater than $10 billion with an average ROE for the past five years that is greater than 10%. The companies are then evaluated to determine whether their valuations are attractive when compared to their levels of ROE. NCM takes many factors into account when determining whether a company exhibits an attractive trade-off between ROE and valuation. They consider the level, variability and quality of ROE and ROIC, how returns were generated, p/e, p/b, p/cf, leverage and free cash flow. Companies that exhibit both strong return characteristics and attractive valuations are considered further. To forecast the sustainability of future returns on equity for these companies, NCM assesses each company based on the quality of its management, the strategy and discipline of its management in deploying capital, whether its business is easy to understand and the company's competitive position within the industry. NCM constructs a portfolio of 25 to 40 positions. Portfolio construction is based on stock selection with a five year time horizon. The firm stays fully invested at all times. Positions are purchased with allocations of 2% to 4% per investment at cost. The firm benchmarks portfolios to the MSCI EAFE, MSCI World and MSCI Europe indexes.

MAM seeks to offer their clients investment strategies that deliver positive risk-adjusted returns while providing capital preservation.

Functions as a College/University

LAM offers products across a broad spectrum of asset classes, designed for different client types. The firm’s traditional and alternative investment services cover listed equity and fixed income investments in a wide range of global, regional and country specific strategies. Risk management is integral to their portfolio construction. They rely heavily on fundamental, bottom-up investment research.

Functions as a College/University