Charles de Vaulx (31 October 1961 – 26 April 2021) was an American asset manager.[1] He was chief investment officer, co-portfolio manager, and partner at International Value Advisers, LLC.
Background and history
editBorn in Morocco,[2] de Vaulx earned a Master in Finance from Ecole Supérieure de Commerce de Rouen, France. In January 1987, de Vaulx joined the SoGen Funds, a branch of Société Générale, working under Jean-Marie Eveillard as an analyst. In August 1996, de Vaulx became an associate portfolio manager. In 1999, Société Générale sold the SoGen Funds to Arnold and S. Bleichroeder Advisers and the funds were renamed First Eagle Funds. In January 2000, de Vaulx was made co-portfolio manager of four First Eagle funds and a number of institutional accounts. In December 2001 he and his colleague Jean-Marie Eveillard were awarded Morningstar's "International Stock Manager of the Year." De Vaulx was designated as the hand-picked successor to Eveillard who went on to retire in December 2004, making de Vaulx the lead portfolio manager in January 2005. Surprising the industry, de Vaulx left First Eagle,[3] just weeks after winning another Morningstar award in December 2006 as the runner-up for "International Stock Manager of the Year." In 2008, de Vaulx joined International Value Advisers, and served as chief investment officer, co-portfolio manager, and partner.
In a 2019 interview with Morningstar, de Vaulx mentioned he had recently become a naturalized U.S. citizen.[4]
In March 2021, International Value Advisers announced it would liquidate its funds and close up shop because its assets under management had collapsed from $20 billion to under $1 billion as a result of client redemption. The departure of investors from IVA was attributed in part to a generalized slump for the value investing strategies de Vaulx favored, and also due to the departure of his partner and presumed successor Chuck de Lardemelle which was perceived as a sign of strife within the company.[5]
Death
editOn 26 April 2021, de Vaulx committed suicide by jumping from the 10th floor of the International Value Advisors office building. He is survived by his wife and their two children. He was 59.[6][7][8][9][10]
References
edit- ^ de Vaulx, Charles. "Why Value Investing Has Slumped but Will Rebound". The Long View Podcast. Morningstar, Inc. Retrieved 13 February 2022.
- ^ Moynihan, Lydia (Apr 27, 2021). "Charles de Vaulx's apparent suicide a tragic Wall Street tale". Retrieved Feb 13, 2022.
- ^ MarketWatch, Murray Coleman. "Back in First Eagle's nest". MarketWatch. Retrieved May 2, 2021.
- ^ de Vaulx, Charles. "Why Value Investing Has Slumped but Will Rebound". The Long View Podcast. Morningstar, Inc. Retrieved 13 February 2022.
- ^ Gregg Wopler (06 April 2024). An In-Depth Look at the Perplexing IVA Saga. Morningstar.com, accessed 15 November 2024
- ^ "IVA Founder Charles de Vaulx Has Died". Morningstar, Inc. Retrieved May 2, 2021.
- ^ "Charles de Vaulx suicide: Millionaire investor jumps off 10th floor of posh NY building after firm loses money". meaww.com. Retrieved May 2, 2021.
- ^ Moynihan, Lydia (Apr 27, 2021). "Charles de Vaulx's apparent suicide a tragic Wall Street tale". Retrieved Feb 13, 2022.
- ^ Kapadia, Reshma. "Legendary Value Manager Charles de Vaulx Found Dead". www.barrons.com. Retrieved May 2, 2021.
- ^ "Charles de Vaulx, IVA's noted value investor, found dead at New York offices". Reuters. Apr 27, 2021. Retrieved May 2, 2021.