Cambiar's international equity portfolio is a natural extension of the firm’s traditional bottom-up domestic equity approach. Cambiar identifies undervalued foreign companies that are undiscovered, misunderstood and/or mispriced. These companies then must evidence outstanding financial and business characteristics not yet recognized by the respective capital markets. Given our higher quality focus, clients should anticipate the portfolio to be primarily invested in the more developed countries, with subsequently less exposure to the volatile emerging markets. The desire to only hold our best ideas results in a conviction-weighted portfolio of 40-50 stocks that are well-diversified at both the country and sector level.
Ticker
CAMIX
Investor
September 9, 2002
The Cambiar International Equity Trust, a similarly managed Fund, began on August 31, 1997. This Fund was not registered under the Investment Company Act of 1940. This product became a mutual fund on September 9, 2002.
Portfolio Assets as of 8/31/10
$25.0 Million
Minimum Investment
$2,500 / $500 IRA
Fee
Fee Waivers: -0.35%
Net (with waivers): 1.30%
Cambiar has voluntarily agreed to waive all or part of the advisor fee in order to keep total fund expenses at 1.3%. There can be no assurance that the Advisor will continue to waive the fees.
Morningstar Rating as of 8/31/10
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Overall rating of 3 stars for the period ending 8/31/10 out of 287 Foreign Large Value Funds. Morningstar rankings are based on risk adjusted returns and the Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its three- and five-year Morningstar Rating metrics.
For each fund with at least a three year history, Morningstar calculates a Morningstar Rating based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund’s monthly performance (including the effects of sales charges, loads and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its three-, five- and ten-year Morningstar Ratings metric. CAMIX was rated against 287 Foreign Large Value funds over a three year period and 214 over a five year period. With respect to these Foreign Large Value funds, CAMIX received a Morningstar Rating of 3 stars and 3 stars respectively. Past performance is no guarantee of future results.
