About This Episode

Pzena Investment Management is well-known among financial institutions but is new to the advisor community. The firm was started by Rich Pzena, my guest today, in late 1995. It ended the first quarter of 2021 with $49.2 billion in AUM, which is an all-time high, and it has had positive net flows for the past four years. Rich and I will talk about the global deep value discipline his firm is known for, as well its concentrated, high-active-share strategies, and its bottom-up methodology that is focused on company-level research.

About Our Guest

Rich Pzena is the founder, managing principal, co-chief investment officer, portfolio manager, and a member of the firm’s executive committee. He is the architect of the firm’s investment strategy and conceived and developed its proprietary screening model. He serves as co-portfolio manager for the U.S. Large Cap and Mid Cap strategies, Focused Value, and U.S. Best Ideas.

Show Notes

Here is a link to the Pzena Investment Management web site, where you find out more about the company and the funds we discussed. The four proprietary funds are: Pzena Emerging Markets Value Fund (PZIEX); Pzena Mid Cap Value Fund (PZIMX) – Rich is a named PM; Pzena Small Cap Value Fund (PZISX); and Pzena International Small Cap Value Fund (PZIIX). Rich is also a portfolio manager on these funds, which Pzena subadvises: John Hancock Classic Value Fund (PZFVX), Vanguard Windsor Fund (VWNDX) and Vanguard Selected Value Fund (VASVX).