International Equity

The Madison International Equity Team operates on a single principle: seek extraordinary industry-leading companies with sustainable competitive advantages. We are patient, long-term investors—ever wary of fads and the predictions of financial "experts." We are more focused on the inherent value of consistently growing companies, strong products and sound management than with market trends or movements of share prices. Consequently, we concentrate on the underlying economic and business fundamentals of each investment.

Our multi-cultural, multi-national "lens" allows us to distinctively uncover, examine and invest in dynamic opportunities throughout the world. We seek to truly and intricately understand the companies we invest in. We scrutinize current valuations and historic fundamentals, meet with management, and study a company's competitors. We focus on adding value to client portfolios through bottom-up stock selection, rather than relying on the precarious fortunes of market timing or currency hedging.


International Equity

A purely international portfolio of 40-70 large-cap companies, the International Equity Strategy seeks to outperform the MSCI ACWI ex USA and the MSCI EAFE benchmarks by investing in industry leaders that generate sustainable earnings growth. This Strategy invests principally in equity securities of international companies, including emerging markets. Securities selected are generally those of large-cap companies with a market capitalization of over $1 billion. The Strategy does not use derivatives to hedge currency exposure. Cash and cash equivalents are generally less than 5% of the portfolio. Use of ordinary shares offers an unconstrained portfolio option.


International Equity ADR

The same investment philosophy and process as our flagship strategy utilizing American Depository Receipts (ADRs) for clients with specific accounting and regulatory needs. This strategy typically concentrates on 30-60 large-cap companies.


International Equity Developed Markets Plus

A purely international portfolio of 40-70 large-cap companies, the International Equity Strategy seeks to outperform the MSCI EAFE benchmark by investing in industry leaders. This Strategy invests principally in equity securities of international companies and a maximum emerging market allocation of 15%. Securities selected are generally those of large-cap companies with a market capitalization of over $1 billion. The Strategy does not use derivatives to hedge currency exposure. Cash and cash equivalents are generally less than 5% of the portfolio.


Thomas R.H. Tibbles, CFA
Head of International Equity Team, Portfolio Manager/Analyst
Patrick Tan
Portfolio Manager/Analyst
Alyssa Rudakas, CFA
Portfolio Manager/Analyst
Betty Tam
Director of Research & Technology

Thomas R.H. Tibbles, CFA

Head of International Equity Team, Portfolio Manager/Analyst
Contact

Tom serves as portfolio manager and multi-sector analyst on the Madison International Equity Team. Prior to joining Madison in 2014, Tom led the Global Equity Team at Hansberger Global Investors, in Toronto. Tom was an initial founder of the International Equity Team in 1996 when at Indago Capital Management, an affiliate of Canada Life. Tom holds a Bachelor of Commerce degree with distinction from the University of Toronto, Trinity College. While attending the University of Toronto, he was awarded the Martin R. Lindsay Scholarship for performance in advanced finance and a Trinity College Scholarship for overall performance. He is a CFA® charterholder and a member of the CFA Society Toronto.

Patrick Tan

Portfolio Manager/Analyst
Contact

Patrick is a portfolio manager and analyst on the Madison International Equity Team and is responsible for multi-sector coverage. Prior to joining Madison in 2014, Patrick was part of the Global Equity Team at Hansberger Global Investors. Patrick was an initial founder of the International Equity Team in 1996 when at Indago Capital Management, an affiliate of Canada Life. As an equity analyst, Patrick is responsible for analysis for the international equity portfolios. Previously, he was involved in quantitative analysis of portfolios, program trading, research technology, database management and performance measurement. He holds a Bachelor of Arts degree in Commerce and Economics from the University of Toronto.

Alyssa Rudakas, CFA

Portfolio Manager/Analyst
Contact

Alyssa is a portfolio manager and analyst on the Madison International Equity Team and is responsible for multi-sector coverage. She joined the International Equity Team in 2011 as a research associate at Hansberger Global Investors, prior to joining Madison in 2014. Alyssa began her career at Dundee Securities Corporation where she worked as a licensed sales assistant. She holds a Bachelor of Commerce degree from the University of Calgary. She is a CFA® charterholder and a member of the CFA Society Toronto.

Betty Tam

Director of Research & Technology
Contact

Betty joined the International Equity Team in 2006 while at Hansberger Global Investors, prior to joining Madison in 2014. She is responsible for the management of information systems within the portfolio management process on the Madison International Equity Team. She is also a key member of the quantitative research effort. Betty began her career specializing in systems integration and enhancement. Her experience includes working at Indago Capital Management, an affiliate of Canada Life, Laketon Investment Management and Hansberger Growth Investors. Betty holds a Bachelor of Business Management degree from Ryerson University.

“Madison” and/or “Madison Investments” is the unifying tradename of Madison Investment Holdings, Inc., Madison Asset Management, LLC (“MAM”), and Madison Investment Advisors, LLC (“MIA”), which also includes the Madison Scottsdale office. Hansberger Growth Investors, L.P. or “HGI” is an affiliate of “Madison Investments.” MAM, MIA and HGI are registered as investment advisers with the U.S. Securities and Exchange Commission. Madison Funds are distributed by MFD Distributor, LLC. MFD Distributor, LLC is registered with the U.S. Securities and Exchange Commission as a broker-dealer, and is a member firm of the Financial Industry Regulatory Authority. The home office for each firm listed above is 550 Science Drive, Madison, WI 53711. Madison’s toll-free number is 800-767-0300.

Any performance data shown represents past performance. Past performance is no guarantee of future results.

Non-deposit investment products are not federally insured, involve investment risk, may lose value and are not obligations of, or guaranteed by, any financial institution. Investment returns and principal value will fluctuate.

This website is for informational purposes only and is not intended as an offer or solicitation with respect to the purchase or sale of any security.

Investing in foreign securities presents risks that could be greater or different from investing in U.S. securities. These risks include currency risk caused by fluctuations in currency values relative to the U.S. dollar, political and economic risks, higher transaction costs, and substantially different standards for regulatory, accounting and public disclosure and availability of corporate information. These risks can be greater with some emerging markets securities.

Indices are unmanaged. An investor cannot invest directly in an index. They are shown for illustrative purposes only, and do not represent the performance of any specific investment. Index returns do not include any expenses, fees or sales charges, which would lower performance.

The MSCI ACWI ex USA Index captures large and mid cap representation across 22 of 23 Developed Markets countries (excluding the US) and 23 Emerging Markets countries. With 1,843 constituents, the index covers approximately 85% of the global equity opportunity set outside the US.

The MSCI EAFE (Europe, Australasia & Far East) Index is a free-float adjusted market capitalization index that is designed to measure developed market equity performance, excluding the U.S. and Canada.