Small Cap Fund
The Cambiar Small Cap Fund was launched in August 2004, and utilizes the same relative value investment philosophy that has been used since 1973. The Fund’s objective is long-term capital appreciation and seeks to outperform the Russell 2000 and Russell 2000 Value.
CAMSX - Morningstar Rating as of 12/31/11
Overall rated 4 stars for the period ending 12/31/11 out of 580 Small Blend 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, five and ten year Morningstar Ratings metric.
Portfolio Characteristics
- The Cambiar Small Cap Fund is a team-managed strategy that utilizes the knowledge and experience of Cambiar’s seven domestic analysts.
- Bottom-up, relative value investment process that favors undervalued companies that possess a catalyst for future growth.
- The Fund holds between 45-55 stocks.
- Equal-weighted approach - All new stock positions enter the portfolio at 2% position sizes. This construction is designed to reduce excessive stock-specific risk, while allowing for the freedom to participate on the upside.
- The Fund is diversified across multiple sectors/industries.
The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted. Returns assume reinvestment of all dividend and capital gains distributions. Expense ratio is 1.46% (gross); 1.28% (net). Contractual fee waiver in effect until September 1, 2012. Absent these waivers, total return would be reduced. Performance for CAMZX may vary. For CAMZX performance and CAMSX performance current to the most recent month end, please call 1-866-777-8227. The Russell 2000® Index measures the performance of the 2,000 smallest companies in the Russell 3000 Index, which represents approximately 8% of the total market capitalization of the Russell 3000 Index. The Russell 2000® Value Index measures the performance of those Russell 2000 companies with lower price-to-book ratios and lower forecasted growth values. The Russell Indices returns do not reflect any management fees, transaction costs or expenses. Individuals cannot invest directly in an Index.
The Fund charges a 2.00% redemption fee on redemptions of shares held for less than 90 days.
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. CAMSX was rated against 580 US-domiciled Small Blend funds over a three year time period and 485 US-domiciled Small Blend Funds over a five year time period. With respect to these small blend funds, CAMSX received a Morningstar Rating of 5 stars and 4 stars, respectively. Past performance is no guarantee of future results. Morningstar Rating is for the investor share class only; other classes may have different performance characteristics.
| Quarterly Performance as of 12.31.11 | |||
|---|---|---|---|
| CAMSX | Russell 2000 | Russell 2000 Value | |
| 4Q11 | 19.91% | 15.47% | 15.97% |
| YTD | -1.34% | -4.18% | -5.50% |
| 1 Year | -1.34% | -4.18% | -5.50% |
| 3 Year | 24.79% | 15.63% | 12.36% |
| 5 Year | 3.55% | 0.15% | -1.87% |
| Since Inception | 9.68% | 5.58% | 4.53% |
Inception Date: 8/31/2004
3 year, 5 year and 10 year and since inception performance information are annualized.
Mutual Fund: Cambiar Small Cap Fund
Ticker: CAMSX | CAMZX (Institutional)
Share Class: Investor and Institutional
Inception Date: 8.31.2004
Minimum Initial Investment: $2,500 (IRA $500) $5m (Institutional)
2011 Capital Gains: Click here
Ticker: CAMSX | CAMZX (Institutional)
Share Class: Investor and Institutional
Inception Date: 8.31.2004
Minimum Initial Investment: $2,500 (IRA $500) $5m (Institutional)
2011 Capital Gains: Click here
- Cambiar Small Cap Fund - Fact Sheet Read about the performance, characteristics and portfolio breakdown for the Fund.
- Cambiar Small Cap Fund - Commentary Read about the leading contributors and detractors for the Small Cap Fund for the quarter.
- Cambiar Small Cap Fund - Summary Prospectus
- Cambiar Funds - Prospectus