Founded in 1920, Tweedy Browne started their investment operations in the late 50s and started taking client’s money in the 70s.
Tweedy Browne Inc ( their previous name was Tweedy & Co) began working with the father of value investing – Benjamin Graham and then began working with Warren Buffett and Tom Knapp as brokers before turning their organization into an investment firm. Tweedy Browne has been there when the seeds of value investing were sown.
Today they manage about $20 billion for investors in four mutual funds. So here is one of their key selling point for their funds -
No Managing Director or former general partner has ever left Tweedy, Browne to join another investment firm.
How about that for attrition rate?
Now let us look at their four funds.
1. Global Value Fund (TBGVX)
Started in 1993, as the name suggests, Global Value Fund invests wherever they find value opportunities around the world. This fund has over $839 million of Tweedy Browne Founders/Employee’s own money. This is classic “eating your own dog food” style.
Here are the returns over the years.
The first column is the fund’s return. The 2nd column and third column represents the MSCI EAFE return with hedging and without hedging.
Tweedy Browne Global Value Fund
2. Global Value Fund II — Currency Unhedged (TBCUX)
Founded in 2009, this is a currency unhedged mutual fund and very similar to the regular Global Value Fund except the currency is unhedged.
For normal people like us, what this mean is that the fund may go up and down based on the conversion rate of US dollar into Euro or any other currency in which they buy stocks.
Here is their returns over the few years they are active.
Tweedy Browne Global Value Fund II – Currency Unhedged
As you can notice, the returns are higher than the hedged US dollar fund. The reason is the US currency has been devalued significantly over other currencies in the past few years and that brings a better return.
3. Value Fund (TWEBX)
I like the way Tweedy Browne folks name their funds. This one does not have “Global” so it means most of their money is invested in the US. This fund began its inception in 1993 and has been returning good results over the years. Here is their performance summary.
Tweedy Browne Value Fund
You will notice that majority of the funds are in US stocks, but they also invest in foreign equities.
4. Worldwide High Dividend Yield Value Fund (TBHDX)
The last fund which is very descriptive and as it explains this fund tries to bring more dividends to investors. This is more opted for people who are retired or plans to retire soon. This fund was begun in 2007, so there is not a lot of history to do with their operations, but again a good, solid, dividend fund.
Here are the returns.
Worldwide High Dividend Yield Value Fund (TBHDX)
Remember, these funds also send you dividends apart from their growth in NAV.
Tweedy Browne is another good old time Mutual Funds that generates you money.
- Website of Tweedy Browne
- Global Value Fund Information
- Global Value Fund II Information
- Value Fund Information
- Worldwide High Dividend Yield Value Fund
- Annual and Semi Annual Reports