SOURCE: Ativo Capital Management LLC

Ativo Capital Management an affiliate of the Ativo Group

December 22, 2010 08:00 ET

Ativo Receives Additional $15M Allocation and Graduates to Direct Funding With State Universities Retirement System of Illinois (SURS)

CHICAGO, IL--(Marketwire - December 22, 2010) - Ativo Capital Management LLC (Ativo) has received an additional $15M allocation and graduated to being directly funded by the State Universities Retirement System (SURS) to manage funds using its International strategy. Ativo had been working with SURS as part of the Progress Investment Management manager of managers program. Ativo is a Chicago-based MBE investment advisor which rigorously applies fundamental financial theory to company analysis based on its proprietary model-based fundamental methodology.

Ricardo Bekin, Ativo's Chief Investment Officer, stated, "We work hard every day to build ourselves into a world class asset manager. Over the last couple of years we have introduced better technologies, sought out key talent, and we continue to refine our methodologies. Being graduated from a manager of managers program is exciting in that it is recognition that we are moving forward."

Ativo designs portfolios based on security valuation methodologies developed by Ativo Research LLC, formerly Callard Madden & Associates Inc (Established 1971). Ativo's proprietary methodology relies on published financial data and integrates discounted cash flow return on investment along with cost of capital, and growth and life-cycle theory. Ativo Capital Management's methodology is built on a 40 year history of objective fundamental financial analysis.

Ativo's approach begins with the premise that, over time, the markets are rational and fundamental economic performance and investor discount rates eventually drive stock price. Ativo objectively quantifies the underlying factors that determine a specific company's discount rate in order to determine a company's real economic value. This approach to measuring fundamental economic performance requires a disciplined framework and a meticulous and detailed understanding of reported accounting data.


The University Retirement System of Illinois was created in 1941 to provide "for the creation, maintenance, and administration of a Retirement System for the benefit of the staff members and employees of the University of Illinois and certain other state educational and scientific agencies." In 1942, the System had 3,760 participants. In the following years, the University Retirement System grew to include other universities, colleges, and affiliated agencies throughout the state of Illinois. In 1963, the System adopted its current name, State Universities Retirement System (SURS). Today SURS serves over 70 employers in Illinois including state universities, community colleges, and state agencies. It employs more than 100 people in offices in Champaign and Chicago and provides benefit services to over 180,000 members throughout the world.

Additional information on Ativo can be obtained at its website or by contacting Daniel Allen directly either by email or at the below number.

Contact Information

  • Contact:
    Daniel T. Allen
    Director of Business Development
    312-263-7600 x107
    Email Contact