Drew Spangler

Osmosis believes that to gain mainstream adoption, sustainable investment should not come at the cost of financial returns and that sustainability metrics, if quantifiable and objective in nature, can be applied to mainstream portfolios to generate alpha. Our range of systematic equity strategies target better risk-adjusted returns while simultaneously delivering reduced environmental footprints to their respective benchmarks. Osmosis is head quartered in London with a physical presence established in North America in 2019. With a team of 22 investment professionals, we are at the forefront of integrating environmental data into portfolio construction.

Tawa Capital Management is an international value equity manager focused on investments in companies with high innovation content, strategic optionality, superior capital discipline and low expectations.

• Led International Active business unit averaging $5 billion in assets, including portfolio management, personnel management, client engagement, and new business development. • Managed investment process of security selection, portfolio construction, and overall strategy for developed international and global value-oriented, long-only all-cap and small-cap strategies. • Managed team of 13, including portfolio managers, fundamental equity analysts, quantitative research analysts, traders, and client relations specialists. • Managed and coordinated all aspects of human capital management for team, including strategic hiring decisions, position descriptions, compensation/incentives, succession planning, and onboarding. Managed the process for downsizing/reductions in force balanced with retaining, reorganizing, and re-energizing remaining staff. • Oversaw weekly investment strategy and security research meetings to review portfolio holdings and decide on potential portfolio transactions. • Guided fundamental and quantitative research agenda to drive unique investment insight and uncover compelling investment opportunities. • Presented quarterly reviews to large North American institutional client base to review portfolio performance and articulate future outlook. • Presented to prospective institutions, winning ~$1.5 billion in client mandates. • Wrote annual and quarterly letters to update clients on performance and outlook. • Wrote white papers on the investment potential for International Small-Cap stocks in 2002 and 2005 and for International Value stocks in 2013. • Crafted comprehensive client presentation materials to articulate investment strategy and outlook. • Presented at annual GMO client conference to educate and inform investors regarding developed international investment strategy and opportunity. • Conducted annual budget and profitability reviews of business unit.

• Conducted equity research, analysis, and stock selection for global all-cap and small-cap value strategies to generate investment performance above relevant benchmarks. • Covered US sectors of Energy, Utilities, Technology Hardware, Semiconductors, Insurance, Household Products and Media. • Generated average US sector relative annual performance: +3.5%. • Generated average all-cap relative annual performance in Canada: +1.2%.

• Developed, enhanced, and refined valuation models for use in stock selection and idea generation. • Conducted currency, country, industry, and factor valuation research and analysis. • Coordinated and oversaw quantitative research agenda to support fundamental portfolio management team. • Managed summer quantitative research internship program for five years.