Sprucegrove Investment Management Ltd.

Sprucegrove was founded in 1993 as a specialty international and global equities investment management firm, exclusively serving the institutional market. Through our bottom-up approach, we look to build portfolios of high-quality companies at attractive valuations. Sprucegrove’s competitive advantages are centered on our exclusive focus on international and global equity mandates, the breadth and depth of our proprietary research, a working list of approximately 400 developed market and emerging market companies that meet our quality criteria, and the consistent discipline of our bottom-up, long-term approach for 27 years.