'Boring' Canadians continue to buy shares in Glanbia
A Canadian investment company, which calls itself as 'liking boring' and 'making money' has increased its stake in Glanbia to 4.05pc.
Mawer, whose tag line is 'Be boring. Make money' has previously bought up 3pc of Glanbia shares and in a trading statement released yesterday, Glanbia announced that Mawer had increased its investment to 4.05pc.
That 3pc stake, which was announced in September 2017, was a jump from the previous less than 1pc Mawer had previously owned in Glanbia.
According to Mawer 'Be Boring. Make Money' means ignoring fads and taking a long-term view of investing.
"It means consistently sticking to a systematic, disciplined, bottom up investment approach no matter what the market outlook. And it means putting the investment odds in our clients' favour by focusing on the things we can control," its website states.
It goes on to say that as bottom up, fundamental investors, it looks for "excellent securities with sustainable competitive advantages, regardless of industry or economic conditions".
Mawer is based in Calgary and its latest tranche of Glanbia shares, which were trading at €13.73 yesterday, compared to over €19.00 in April last year.
Last July, Glanbia, headed by group managing director, Siobhan Talbot, finalised a deal to sell its 60pc stake in a joint venture called Dairy Ireland to the Glanbia Co-Op.