The funds are managed jointly by Charles de Vaulx and Charles (“Chuck”) de Lardemelle. IVA, which launched in October 2007, began investment operations in January and manages $555 million in global assets for public and private institutions and high-net-worth individuals, according to a press release.
According to the firm, IVA International Fund will generally invest in markets outside the United States, and IVA Worldwide Fund will invest globally, including the U.S. Both funds will primarily seek long-term growth of capital while attempting to moderate risk by investing in a diversified range of securities and asset classes. The funds will invest in companies of any capitalization that have fundamental value, financial strength and stability. In order to try to mitigate risk, both funds may hold substantial amounts of cash, as well as high yield bonds, precious metals and real estate related securities. The launch announcement also says that the funds “pursue a strict value investing philosophy that the investment team has practiced together for many years.”
The funds will be available in class A shares, with a maximum front-end sales charge of 5.00%; class C shares, which have no initial sales charge but a higher 12b-1 sales charge than class A shares; and class I shares, which have no initial sales charge and no 12b-1 sales charge. Class A shares’ initial sales charge may be waived for investors who purchase in connection with non-transaction fee fund programs and programs offered by fee-based financial planners and other types of financial institutions. The minimum initial investment for class A and class C shares is $5,000; for class I shares it is $1 million.
De Vaulx is a Partner and Portfolio Manager of IVA. Prior to his joining the firm in March, he was CIO of the Global Value Group at Arnhold S. Bleichroeder Advisers, LLC. He also served as portfolio manager of the First Eagle Global, Overseas, Gold, U.S. Value and Overseas Variable Funds.
De Lardemelle is a founding partner and portfolio manager at IVA. Until September 2007, he was a senior vice president of ASB and the associate portfolio manager of the First Eagle Global, Overseas, and US. Value Funds.
More information is available at www.ivafunds.com