Sprucegrove Investment Management Ltd (Toronto, Ontario)

Sprucegrove Investment Management Ltd is a large advisory firm based in Toronto, Ontario. It manages $12.88 billion of regulatory assets for 58 client accounts. It has been registered with the SEC as an adviser since 2001.

Sprucegrove Investment Management provides portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled investment vehicles, and portfolio management for businesses and institutional clients. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Sprucegrove Investment Management: assets under management

The assets under management (AUM) of Sprucegrove Investment Management Ltd is $12.88 billion, all of which is managed in discretionary accounts. The firm's AUM has grown by 148% since the beginning of its operation, and $4.5 billion of the total AUM is attributable to clients outside of the United States.

The firm manages $12.88 billion in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $222.01 million each.

Investments

The firm invests in exchange traded securities the most. They account for 97% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 3% of the firm’s portfolio.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Sprucegrove Investment Management Ltd for their services and products based on a percentage of assets under management. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Sprucegrove Investment Management serves?

The firm provides services to investment companies, high net worth individuals, pooled investment vehicles, pension and profit sharing plans, and state or municipal government entities. The largest group of clients of Sprucegrove Investment Management is state or municipal government entities with 12 clients and $6.13 billion of assets under management. Among the 9 most similar advisory firms, Sprucegrove Investment Management has the highest percentage of state or municipal government entities out of all clients.

The amount of regulatory assets under management is $10.52 billion for 50 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 48% of the firm’s clients are foreign persons or businesses.

Sprucegrove Investment Management also advises several private funds. Namely, three other private funds. The minimum investment commitment required of non-related persons is $5,000,000 for each fund.

Careers at Sprucegrove Investment Management Ltd

The company employs 40 people that are either part- or full-time employees. 40 percent of the employees work as investment advisers or researchers. No employees are registered as investment adviser representatives with the state securities authorities.

There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
John Hamilton Watson	President & director	1 Aug 1993	Other	4347000
Ian Arthur Fyfe	Vice president & director	1 Nov 1993	Other	4347022
Peter Clark	Vice president & director	1 Nov 1993	Other	4347027
Martin Blake Murphy	Chief financial officer	1 Nov 1993	Other	4347035
Shirley Woo	Assistant vice president	1 Dec 1993	Other	4347032
Marcel Leroux	Vice president marketing	1 Nov 1994	Other	4347039
Peter Kevin Ellement	Assistant portfolio manager	1 Jan 2001	Other	4635472
John Hamilton Watson	Founding partner	1 Jan 2005	Other	4347000
Ian Arthur Fyfe	Co-president & director	1 Jan 2005	Other	4347022
Peter Clark	Co-president & director	1 Jan 2005	Other	4347027
Martin Blake Murphy	Chief financial officer & director	1 Jan 2005	Other	4347035
Craig Allen Merrigan	Assistant portfolio manager	1 Jan 2005	Other	4921481
Subhash Mehta	Senior investment analyst	1 Jan 2006	Other	5099638
Peter Kevin Ellement	Portfolio manager	1 Jan 2007	Other	4635472
Craig Allen Merrigan	Portfolio manager	1 Jan 2007	Other	4921481
Martin Blake Murphy	Chief operating officer, chief compliance officer & director	1 Jan 2008	Other	4347035
Mark Christoffel Wolff	Chief financial officer	1 Jan 2008	Other	5496302
Karl Erik Parnoja	Portfolio manager	1 Jan 2008	Other	5496306
John Hamilton Watson	Portfolio & business advisor	1 Jan 2008	Other	4347000
Ian Arthur Fyfe	Portfolio & business advisor & director	1 Jan 2008	Other	4347022
Peter Clark	President & director	1 Jan 2008	Other	4347027
Shirley Woo	Vice president	1 Jan 2008	Other	4347032
Craig Allen Merrigan	President & director	1 Jan 2009	Other	4921481
Ian Arthur Fyfe	Portfolio & business advisor	1 Jan 2009	Other	4347022
Peter Kevin Ellement	Portfolio manager & director	1 Jan 2009	Other	4635472
Alanna Marshall Lizzola	Senior investment analyst	1 Jan 2009	Other	5761078
Tasleem Jamal	Vice president, head of marketing & client services	1 Aug 2010	Other	6932758
Peter Clark	Business advisor & director	1 Jan 2012	Other	4347027
Shirley Woo	Vice president & director	1 Jan 2013	Other	4347032
Alanna Marshall Lizzola	Assistant portfolio manager	1 Jan 2013	Other	5761078
Arjun Kumar	Assistant portfolio manager	1 Jan 2013	Other	6177954
Peter Kevin Ellement	Shareholder	1 Aug 2014	Other	4635472
Alanna Marshall Lizzola	Portfolio manager	1 Nov 2014	Other	5761078
Arjun Kumar	Portfolio manager	1 Nov 2014	Other	6177954
Alanna Marshall Lizzola	Shareholder	1 Sep 2015	Other	5761078
Martin Blake Murphy	Shareholder	1 Jan 2016	Other	4347035
Dale Anthony O'connor	Chief compliance officer	1 Jan 2016	Other	6599481
Louis Anthony Shapiro	Chief legal officer & chief compliance officer	1 Aug 2016	Other	6751165
Ki Se Choi	Chief financial officer	1 Dec 2016	Other	6751175
Craig Allen Merrigan	Portfolio manager	1 Jan 2017	Other	4921481

Based in Toronto, Ontario

The principal office where Sprucegrove Investment Management Ltd performs its advisory services is located at 181 University Avenue, Toronto, Ontario, M5 H 3 M7, which is also the mailing address of the firm. The firm also has an office outside of the United States.

You can reach the main office by calling the phone number 416-363-5854 or by fax 416-363-6803. The normal business hours are 9:00 am to 5:00 pm on Monday - Friday.