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Mark Madsen, portfolio manager (PM) for our Global Contrarian strategy and the industrials tranche of our Global Reach strategy, has decided to leave the firm to pursue a new opportunity.
Here is the email I received this evening from GP:
Feb 13, 2025
Dear Fellow Investors,
Mark Madsen, portfolio manager (PM) for our Global Contrarian strategy and the industrials tranche of our Global Reach strategy, has decided to leave the firm to pursue a new opportunity.
Robert Gardiner, Grandeur Peak’s chairman and co-founder, is nearing the conclusion of his three-year service sabbatical. When he returns this summer, he plans to be a PM on Global Contrarian, as well as a PM on the Global and International Opportunities Funds.
Robert is a strong believer in Global Contrarian, having pioneered the idea of a value fund in a growth shop and launching small and micro-cap value funds over two decades ago while at Wasatch Global Investors. He was the driving force behind the launch of Global Contrarian in 2019 and acted as its Guardian PM for its first three years.
Until Robert’s return, Blake Walker, CEO, will serve as the interim PM on the Global Contrarian Fund. He’ll be joined by Dane Nielson, who has worked directly on the Fund for most of its five-year life.
Our Industrials sector research will continue to be covered by Matt Kaelberer and Cyrus Crockett. Matt and Cyrus will report directly to Randy Pearce, CIO, who will provide oversight and support.
As we frequently explain, one of Grandeur Peak’s most distinguishing features is that all of our portfolios rely heavily on the work done by our sector and geography teams. This team-driven structure allows us to fully leverage our “multiple minds” investment philosophy and mitigate key person risk.
If you have any questions related to this news, please reach out to a member of our Client Relations Team.
The relative weakness in international stocks and small caps, compared to US LC returns, over the past decade and more must have adversely affected the fortunes of Grandeur Peak.
In addition, the US dollar has been strong against other major currencies; a sizable headwind when investing oversea unless the managers hedged the currency invested.
I don’t believe Grandeur Peak hedge currency in their foreign and global funds.
Comments
Feb 13, 2025
Dear Fellow Investors,
Mark Madsen, portfolio manager (PM) for our Global Contrarian strategy and the industrials tranche of our Global Reach strategy, has decided to leave the firm to pursue a new opportunity.
Robert Gardiner, Grandeur Peak’s chairman and co-founder, is nearing the conclusion of his three-year service sabbatical. When he returns this summer, he plans to be a PM on Global Contrarian, as well as a PM on the Global and International Opportunities Funds.
Robert is a strong believer in Global Contrarian, having pioneered the idea of a value fund in a growth shop and launching small and micro-cap value funds over two decades ago while at Wasatch Global Investors. He was the driving force behind the launch of Global Contrarian in 2019 and acted as its Guardian PM for its first three years.
Until Robert’s return, Blake Walker, CEO, will serve as the interim PM on the Global Contrarian Fund. He’ll be joined by Dane Nielson, who has worked directly on the Fund for most of its five-year life.
Our Industrials sector research will continue to be covered by Matt Kaelberer and Cyrus Crockett. Matt and Cyrus will report directly to Randy Pearce, CIO, who will provide oversight and support.
As we frequently explain, one of Grandeur Peak’s most distinguishing features is that all of our portfolios rely heavily on the work done by our sector and geography teams. This team-driven structure allows us to fully leverage our “multiple minds” investment philosophy and mitigate key person risk.
If you have any questions related to this news, please reach out to a member of our Client Relations Team.
I don’t believe Grandeur Peak hedge currency in their foreign and global funds.