Magazine

Cover | Published in August 2013

2013 Best Managers You’ve Never Heard Of

By John Keefe | August 2013
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Best Managers Reunion–Class of 2012

The Class of 2012 for PLANSPONSOR’s Best Managers moved from strength to strength during the past year. At Somerset Capital Management, London, the firm’s Global Emerging Markets Equities strategy again substantially outpaced the MSCI Emerging Markets Index (including dividends net of taxes) for the one, three and five years ended this June.

Vulcan Value Partners, of Birmingham, Alabama, outperformed its benchmark (the Russell 1000 Value Index) for the one, three and five years ended in June, as well. And such good performance could not remain undiscovered long: Vulcan’s assets under management more than doubled, from about $900 million in June 2012 to $2.5 billion at the end of June this year. C.T. Fitzpatrick, Vulcan’s founder and CEO, notes that through the first half of 2013, the firm’s small-cap strategies were ahead of their benchmarks, while the large-cap portfolios trailed a bit in the short term. He elaborates: “But in large cap, that’s because we are allocating capital to companies whose values are growing, but their stock prices are underperforming. In a rising market—where it’s harder to find bargains—we’re thrilled, because we’re planting the seeds for better long-term compounding.”

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