It was interesting to read up on Mawer's - was curious just to find out about their investment philosophy as to why they would be investing in Bravura.
Mawer are a typical value fund ("Be Boring, Make Money" is their motto - sounds a bit like Peter Lynch meets Warren Buffett). They are actively looking for discounts to intrinsic value (pay 60c to get $1), companies that create sustainable growth, and I think they also put a premium on good management (uncertain how they actively measure this). They are long term investors, so presumably will be happy to acquire and hold, and have held Bravura for some time. However they are quite diversified, so the small cap* fund that owns 10% of Bravura is CAD$2.7bn funds under management with 62 holdings, and Bravura is not in their Top 10 holdings.
They have more researchers and analysis than this keyboard warrior, so nice to get some confirmation bias with their investments. Happy to hold and accumulate at this price.
*Small cap quite relative, their largest holding is a company GrandVision worth around US$7bn, while Bravura is 1/15th the size.
BVS Price at posting:
$2.91 Sentiment: Buy Disclosure: Held
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