Winnipeg Free Press - PRINT EDITION

Value Partners cracks $1-B mark in assets

Firm's investments double in difficult time for market

  • Print

Value Partners Investments has hit the big time.

The Winnipeg-based mutual fund company hit $1 billion in assets under management last week, and while such a threshold won't send the banks or insurance giants running for cover, it's a significant milestone for any firm that doesn't call Bay Street home.

The seven-and-a-half-year-old firm has seen its assets double in slightly more than three years in a market that has been far from smooth. It also has 115 advisers across the country, up from 50 six years ago.

VPI believes it can build on its Winnipeg success, too. Steve Norton, its director of research, said the company is looking at acquiring some property out East and hiring some talent to spread the good word.

"We're not flashy and we're not complicated. We're looking to expand and take the Winnipeg spirit further east," he said.

Value Partners has a different model and approach than most firms. The owners, who are a combination of advisers and employees, invest their own money alongside that of VPI's clients.

And that's one of the key success drivers, according to president Gregg Filmon.

"(Our advisers) were tired of being sold products and not being inside the tent for the decision-making process on how their clients were going to be treated," he said.

Filmon is optimistic VPI's assets will continue to grow, as it has a credible investment track record.

"We invest in businesses that are tough to compete with, tough to copy and that pay a growing stream of profits out to their owners," Filmon said.

In a highly consolidated industry, there will always be opportunities for smaller companies to provide a higher level of service and differentiate themselves from the giants, he said.

"I think we have a tremendous opportunity to provide a different experience," he said.

Norton is quick to note VPI's executive team measures itself by more important metrics than assets under management.

"We're more concerned with how much money have our clients made. You can have a $20-billion firm but if you haven't made anybody any money, none of it matters," he said.

Norton said in addition to being a coming-of-age number, $1 billion is also when you start to attract attention from potential suitors. VPI has had its tires kicked by a number of would-be buyers but when they asked if the company is for sale, they have been quickly rebuffed.

"No," Norton said firmly.

Charlie Spiring, vice-chairman of National Bank Financial, said he sees some of the same spunk at VPI his team at Wellington West Capital had for nearly two decades until it was sold to NBF two years ago. In particular, he likes the company's share-ownership model.

"I'm a big fan. They've done well and when you consider the market environment they've been up against the last couple of years, they've done very well," he said.

geoff.kirbyson@freepress.mb.ca

Republished from the Winnipeg Free Press print edition May 24, 2013 0

History

Updated on Friday, May 24, 2013 at 7:45 AM CDT: replaces photo

Fact Check

Fact Check

Have you found an error, or know of something we’ve missed in one of our stories?
Please use the form below and let us know.

* Required
  • Please post the headline of the story or the title of the video with the error.

  • Please post exactly what was wrong with the story.

  • Please indicate your source for the correct information.

  • Yes

    No

  • This will only be used to contact you if we have a question about your submission, it will not be used to identify you or be published.

  • Cancel

Having problems with the form?

Contact Us Directly
  • Print

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

Have Your Say

New to commenting? Check out our Frequently Asked Questions.

Have Your Say

Comments are open to Winnipeg Free Press print or e-edition subscribers only. why?

Have Your Say

Comments are open to Winnipeg Free Press Subscribers only. why?

The Winnipeg Free Press does not necessarily endorse any of the views posted. By submitting your comment, you agree to our Terms and Conditions. These terms were revised effective April 16, 2010.

letters

Make text: Larger | Smaller

LATEST VIDEO

Maurice Leggett on his three interceptions vs. Alouettes

View more like this

Photo Store Gallery

  • A female Mallard duck leads a group of duckings on a morning swim through the reflections in the Assiniboine River at The Forks Monday.     (WAYNE GLOWACKI/WINNIPEG FREE PRESS) Winnipeg Free Press  June 18 2012
  • A mother goose has chosen a rather busy spot to nest her eggs- in the parking lot of St Vital Centre on a boulevard. Countless cars buzz by and people have begun to bring it food.-Goose Challenge Day 06 - May 08, 2012   (JOE BRYKSA / WINNIPEG FREE PRESS)

View More Gallery Photos

Poll

Do high-profile endorsements for political candidates influence your voting decisions?

View Results

View Related Story

Ads by Google