Global Intrinsic Value
Redwheel’s Global Intrinsic Value team is led by Ian Lance and Nick Purves, who each have over 30 years investment experience and have worked together for nearly 20 years through many market cycles. Along with a team of global analysts, they are dedicated value investors seeking to identify undervalued, durable companies with strong cash flows and robust balance sheets.
Investment philosophy
We are long-term value investors who focus on what we believe to be the true worth of a business: the real value of the cashflows it will produce over time, which we call “intrinsic value”. In our view, many market participants exhibit clear behavioural biases, which cause them to overreact to short term news which often has no impact on the true value of a company. This overreaction causes share prices to diverge from the intrinsic value of the underlying business, providing an opportunity for long-term investors to purchase shares at an attractive discount. In the long term, share prices tend to move towards to the intrinsic value of the business, which creates excess returns for investors who purchased shares at low valuations. The team utilises this single approach in funds with both a broad geographic mandate, and in their UK-focussed strategies.
Investment approach
A long, proven heritage
Nick Purves and Ian Lance have a long-established investing partnership, spanning 30 years of investment experience over a variety of investing cycles. Together, they have learnt that long term excess returns are created by remaining disciplined in pursuing their investment approach, even during periods when value investing has fallen out of favour. They believe that ‘style-drift’ – shifting investment styles to try to match market sentiments – ultimately lowers long term returns.
Nick and Ian are supported by six generalist analysts, who have an average of 13 years’ experience, all of whom are personally invested in the team’s funds.
Today, the team manages over $10 billion* across their product range.
Our strategies
Redwheel UK Equity Income
A strategy that aims to provide an income and return to investors by investing primarily in UK equity securities.
Redwheel UK Value
A strategy that aims to provide an income and capital return to investors by investing primarily in UK equity securities.
Temple Bar Investment Trust
A well-established investment company, taking a deep value approach, with the aim of providing growth in income and capital through investing primarily in UK securities.
Redwheel Global Intrinsic Value
A strategy with the aim of providing superior long term capital growth by investing primarily in a portfolio of global companies.
Redwheel EAFE Intrinsic Value
A strategy that aims to produce long-term capital appreciation by investing predominantly in a portfolio of international equities.
Redwheel Global Small Cap Value
A strategy with the aim of providing superior long term capital growth by investing primarily in a portfolio of smaller global companies.
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Latest insights
When it rhymes it pours
Shaul Rosten, Analyst with the Redwheel Value and Income team looks at the striking similarities between today’s market exuberance and the dotcom era, highlighting stretched valuations, record IPO activity and the dominance of the technology sector.
Two beautiful games
As England’s World Cup campaign unfolds, the tournament provides a vivid reminder that sensible bets are grounded in probabilities. Supporters know that backing long-shot teams is unlikely to be rewarded, while favouring stronger sides with clear track records is more prudent. In his latest blog, Shaul Rosten of Redwheel's Value & Income team examines how value investing adopts a similar stance, focusing on quality businesses at attractive valuations, rather than richly priced growth narratives with low odds of delivery.
The case for international value
Ian Lance, Portfolio Manager with the Redwheel Value and Income team outlines why US investors should allocate to EAFE, tilt towards value, and act now.
Meet the team
Ian joined Redwheel in August 2010 as a Partner and Portfolio Manager in the Global Intrinsic Value team with fellow colleague Nick Purves from Schroders.
Nick joined Redwheel in August 2010 as a Partner and Portfolio Manager in the Global Intrinsic Value team.
John has been with Redwheel since September 2010, where he serves as a portfolio manager and partner.
Larry started his career at Redwheel in 2010 supporting the Sales team and now is an Analyst in the Global Intrinsic Value Team.
Shaul joined the Redwheel Global Intrinsic Value team in October 2022.
Miki joined Redwheel in September 2015 and brings over 19 years of industry experience.
Filippo joined Redwheel in June 2022. He is an Analyst in the Global Intrinsic Value team.
Adnan joined Redwheel in June 2022, he is Analyst in the Global Intrinsic Value team.
No investment strategy or risk management technique can guarantee returns or eliminate risks in any market environment. * Sources as at July 2026