Value Strategies
The Lee Munder Capital Group Value team applies a classic value investment style focusing on solid companies whose stock is temporarily out of favor in the market. The strategy emphasizes companies with higher returns on capital, free cash flow and strong balance sheets. These companies often dominate a particular industry niche. Generally these industries have significant barriers to entry and, as a result, are able to perpetuate a higher return on capital over time. Additionally, the strategy will invest in more cyclical companies with somewhat lower returns on capital when the market does not currently appreciate the company’s long-term earnings. The team offers Small Cap Value and Mid Cap Value strategies to clients.
Investment Team
The Value team at Lee Munder Capital Group is led by Todd Vingers, CFA. Todd joined LMCG from American Century, where he was the senior portfolio manager for the five-star Morningstar rated American Century Small Cap Value Fund. Todd serves as the lead portfolio manager for our small cap value strategy as well as managing the team. Todd is joined by Don Cleven, CFA, who has worked with Todd on the value teams at American Century and LMCG since 1999 and who is the lead portfolio manager for our mid cap value strategy, Jay Willadsen, CFA, who joined the team in March 2003, Tim Murphy who joined in October 2005 and Ryan Satterfield who joined in July 2010.