During the last several years, Cambiar’s client base has grown, and we have expanded our investment offerings to take advantage of what we believe to be our competitive edge as research-driven, benchmark agnostic, relative value investors.
With that in mind, I’m pleased to share with you that we have expanded our investment team as of mid-2017. This is a strategic decision and an investment in our active, research-driven approach. Adding professionals to our team supports our sole priority of finding the very best investment ideas for our clients.
We recently hired Munish Malhotra, who joined the firm as an Investment Principal with our international team. After an extensive search, Munish – with his passion for investing and impressive background – stood out as a strong fit for Cambiar’s entrepreneurial culture. He brings 17 years of experience to our firm and joins us from Marsico Capital Management, where he was a Portfolio Manager/Senior Analyst on the International team.
We also have expanded our research team with two associates, Adam Ballantyne and Ben Zerman. Prior to Cambiar, Adam was an Equity Research Associate at KeyBanc Capital Markets in New York City. Ben was an Equity Research Associate at Morgan Stanley in New York City. The research associate role is new to Cambiar, adding support and breadth to our research process.
As you know, our analysts are experts in the industries they cover and bring a critical, informed perspective to our security selection process. Our new Research Associates will enable Cambiar to add greater depth to individual company and industry analysis and widen the scope of research activity overall.
With this recent expansion of our team, and in everything we do, we make thoughtful decisions that we believe are aligned with positive outcomes for you, our clients.
By making several new hires in mid-2017, Cambiar Investors is tacking against the prevailing investment management industry winds of greater commoditization. The trend towards indexation has spilled well beyond traditionally “efficient” asset classes and into areas where active pricing decisions and the allocation of capital necessitate thought and care. We believe that the price-discovery process in public capital markets is critical to the global economy in the longer run and that the role of active management through security selection and capital allocation remains essential. In many cyclical businesses that we follow, the capacity to invest counter-cyclically serves as a key identifier of longer-term success. We believe these same considerations are relevant to asset management.
Thank you for the opportunity to form long-term partnerships with you.
Certain information contained in this communication constitutes “forward-looking statements”, which are based on Cambiar’s beliefs, as well as certain assumptions concerning future events, using information currently available to Cambiar. All material is provided for informational purposes only and there is no guarantee that any opinions expressed herein will be valid beyond the date of this communication. The information provided is not intended to be, and should not be construed as, investment, legal or tax advice.