International Equity

The Cambiar International ADR strategy is a natural extension of the firm's traditional bottom-up domestic research. Over a full market cycle, the portfolio seeks to outperform the MSCI EAFE Index.

Portfolio Characteristics

  • Designed to identify compelling international investment opportunities that possess the desired combination of attractive valuations and potential for multiple expansion
  • The portfolio combines rigorous company research and a refined understanding of macro economic and geopolitical issues.
  • The strategy holds between 40-50 international ADR stocks.
  • Diversified across sectors, countries and regions.
  • Country and Emerging Market Limits: 25% at cost.


The performance information depicted above represents Cambiar’s International Equity ADR Composite. Returns are net of management fees and transaction costs and include the reinvestment of all income. Gross returns do not reflect the deduction of management fees.    The performance of the MSCI EAFE benchmark includes the reinvestment of all income.  The MSCI EAFE Index (Europe, Australasia, Far East) is a free float-adjusted market capitalization index that is designed to measure developed market equity performance, excluding the U.S. & Canada. Cambiar’s past results do not necessarily indicate Cambiar’s future performance and, as is the case with all investment advisors who concentrate on equity investments, Cambiar’s future performance may result in a loss.
Quarterly Performance as of 12.31.11
  ADR (gross) ADR
(net)		 MSCI EAFE
4Q11 7.2% 7.2% 3.3%
YTD -7.1% -7.7% -12.1%
1 Year -7.1% -7.7% -12.1%
3 Year 14.3% 13.2% 7.7%
5 Year 0.8% -0.3% -4.7%
Since Inception 3.5% 2.4% -1.1%
Inception Date: 2.28.2006
3 year, 5 year and  since inception performance information are annualized

Contact Us