Pzena Investment Management will begin marketing concentrated deep value international and global strategies to institutional clients in early 2006, said Bill Lipsey, the New York-based firm's marketing and client service chief. Those strategies - which call for an international portfolio of 30 to 50 midcap- to large-cap stocks and a global portfolio of 40 to 60 stocks - will be led by A. Rama Krishna, a 20-year industry veteran who joined Pzena two years ago, Mr. Lipsey said in a telephone interview.
Pzena manages just less than $15 billion as of Sept. 30, up from $10.7 billion at the end of 2004. Assets have risen sharply despite Pzena's large-cap strategy being the only one of its five U.S. value equity strategies that remains open to new money. In anticipation of the new strategies, which Pzena incubated from the start of 2004, four analysts have been added over the past two years, increasing its research lineup to 15 analysts, Mr. Krishna said.