Investing.com — Sprucegrove Investment Management Ltd. is winding down operations after more than three decades in business, succumbing to sustained client redemptions and prolonged headwinds for its value-investing strategy. The Toronto-based institutional asset manager notified investors of the closure in an email this week, according to reporting by Bloomberg News.
The firm oversaw approximately $11.5 billion in assets at the end of 2025, representing a 25% decline from a year earlier, U.S. regulatory disclosures show. In its note to clients, Sprucegrove stated that a difficult market environment for its style and anticipated further outflows left the business unable to maintain the scale required to operate over the longer term.
As part of the wind-down, Sprucegrove has already notified Vanguard that it will terminate its role as an investment adviser on the Vanguard International Value Fund, where it managed roughly one-third of the portfolio’s assets. Founded in 1993, the employee-owned manager built its business running international equity mandates for pension funds and institutional clients through a long-term approach centered on high-quality companies.
Executives emphasized that the decision followed a broader review of strategic options rather than an abrupt pivot. “We considered a number of alternatives before concluding that an orderly wind-down is the most responsible course for our clients, our employees, and the firm,” Sprucegrove said in the client message.
Original Article
Value manager Sprucegrove to shutter following steep asset declines – Bloomberg
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