Fri, Sep 17, 2021
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Devon Equity Management joins the Group of Boutique Asset Managers (GBAM)

Tuesday, April 27, 2021
Opalesque Industry Update - One of the UK's newer investment boutiques, Devon Equity Management, has joined the Group of Boutique Asset Managers (GBAM).

Devon is an independent fund management company founded in 2019 by well-known fund manager, Alexander Darwall, and former colleagues, Richard Pavry and Luca Emo. The firm invests primarily in long-only European equities on behalf of a FTSE 250 investment trust, European Opportunities Trust PLC (JEO.LN), which Mr. Darwall has managed since launch in November 2000.

Devon has also recently launched a Luxembourg SICAV comprising two sub funds, a European equities strategy (run along similar lines to the investment trust) and a long only global equities strategy created for colleague, Charlie Southern, who joined Devon from Indus Capital in 2020.

The team at Devon invests in a relatively limited number of "special" companies. These are companies that have above average returns and margins that they can sustain for longer than the market expects. Attributes of such businesses include a strong underlying business model with viable new options for growth; the ability to monetise what they do; they are less dependent on governments and regulators; they typically have a dominant market position and an abundance of intellectual property that makes them, in their view, good investments.

Before investing for its clients, Devon will meet the companies to assess their business model and management team. They will only invest in companies that are considered to have a strong, open and accountable management team whose interests are aligned with shareholders as far as is possible. In addition, Devon looks for companies that stand to benefit from long-term structural trends, such as changing consumer habits, technology and regulation.

Chief executive, Richard Pavry, said, "GBAM and its members share our values. The new perspectives we will gain through being an active participant in the GBAM community will be most helpful in the development of our business."

GBAM Chairman and CEO of Skagen Funds Tim Warrington said, "We are delighted to welcome Richard and his colleagues into the GBAM fold. The team at Devon have an impressive long term investment record which, together with their insights, will help further strengthen the Group's knowledge and understanding of international markets - particularly in Europe."

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. SPACs: The fall of the SPAC market has digital media companies in disagreement about best path forward, Cannae Holdings: SPAC bloodbath provides a good entry point, British car startup Cazoo raises $1bn from SPAC merger, Europe's incoming SPAC boom will create a demand for talent[more]

    The fall of the SPAC market has digital media companies in disagreement about best path forward From CNBC: The digital media industry has reached a strategic crossroads. Earlier this year, special purpose acquisition vehicles (SPACs) appeared to be the long-awaited savior of digital me

  2. Property: Real estate's new moneymaker is not design-driven, it's alternative, Two Sigma building quant tools to hunt real estate bargains[more]

    Real estate's new moneymaker is not design-driven, it's alternative From Forbes: There has been a recent shift of attention in the real estate market as to the types of investments which make the strongest returns. In the past, it's always been a combination of good design, prim

  3. PE/VC: Private equity GPs, LPs alike working on diversity and inclusion, Chinese regulator vows to crack down on private equity, venture capital funds, The VC playbook for portfolio companies: learning from the Covid-19 crisis[more]

    Private equity GPs, LPs alike working on diversity and inclusion From PIonline.com: Private equity general partners and limited partners are doing more to increase diversity in private markets, according to a report released Tuesday by the Institutional Limited Partners Association.

  4. PE/VC: Private equity continues to lead fund closings, Venture capital firms are fighting to throw money at cleantech[more]

    Private equity continues to lead fund closings From PIonline.com: Among private fund closings, private equity funds have led the pack starting in 2011, based on data collected by Pensions & Investments. During those years, private equity's share has ranged from 56% to 72% of the total

  5. PE/VC: Climate tech is hot, but VCs can't forget about water, Five top trusts to tap into the private equity boom[more]

    Climate tech is hot, but VCs can't forget about water From Crunch Base: "It is unequivocal that human influence has warmed the atmosphere, oceans, and land." These fiery words come from the latest landmark U.N. report detailing intensifying, universal climate change impacts. They cover