Ask the Manager: Andrew Skatoff on Finding Enduring Companies in International Markets

Welcome to Ask the Manager, ETF Central's series where we interview top experts, analysts and portfolio managers to dive into the latest investment trends, market updates, and economic insights.

We recently chatted with Andrew Skatoff, Founder & Chief Investment Officer of Bancreek Capital Advisors, about uncovering resilient companies in international markets, what drives the success of their flagship ETF, the Bancreek International Large Cap ETF

BCIL

+0.47%

, and why now may be the time to rethink global exposure.

Given international equities have often been overshadowed by U.S. tech-driven markets, why is now the right time to increase exposure abroad?

The global trade landscape is shifting. Recent U.S. policy decisions are disrupting long-standing trade flows and creating uncertainty for companies deeply tied to global supply chains. If the U.S. turns inward, regional champions in countries like Japan, the U.K., Canada, and Australia may step in to fill the gaps.

Meanwhile, international developed markets continue to trade at a meaningful discount to U.S. equities—despite showing stronger relative performance in recent months. If this performance persists, we believe the valuation gap will narrow, especially as international companies demonstrate greater stability and strategic flexibility in this evolving environment.

BCIL is up over 15% YTD and was the top actively managed ETF in April on Bloomberg’s ETF function (Large Cap / Non-Industry Specific). What’s driving this success?

Our edge lies in the quantitative tools we’ve built over many years to identify structurally advantaged companies. These models are rooted in deep fundamental research and have been refined through extensive testing and iteration.

What used to take months of manual research is now done systematically and with consistency. We continue to enhance the process as new data becomes available, allowing us to bring institutional-grade investment research to ETF investors.

Does the model favor any specific sectors or geographies?

Our approach is entirely bottom-up. Companies are selected based on their individual merits, not from any top-down macro view. That said, we actively monitor sector and geographic exposures to avoid unintended concentration and ensure thoughtful diversification. The idea is to let the research process lead, while we manage risk with discipline.

How do you define "institutional endurance"? What traits are you seeking in a company?

We define institutional endurance as a company’s ability to persist, adapt, and grow through market cycles. Specifically, we look for four key attributes:

• Durability – sustainable competitive advantage
• Resilience – ability to navigate adversity
• Longevity – potential to remain relevant long term
• Growth – reinvestment opportunities with attractive returns

How does Bancreek approach investing differently from its peers?

Before founding Bancreek, I spent years at a large single-family office conducting deep fundamental research to identify high-endurance businesses. I was building financial models, analyzing earnings transcripts, and evaluating long-term competitive positioning by hand.

That experience shaped how we invest today. At Bancreek, we’ve translated those insights into a systematic, research-driven process that allows us to identify exceptional companies with consistency and scale.

It’s that blend of institutional discipline, research depth, and execution efficiency that we believe sets us apart.