Cambiar applies a rigorous, disciplined investment philosophy, primarily emphasizing a relative value strategy across a range of international capital markets. Portfolios typically consist of 30 to 40 issues of undervalued securities with strong financial and business characteristics. Cambiar begins with a bottoms-up approach to identify undervalued foreign companies that are undiscovered, misunderstood and/or mispriced. These companies then must evidence outstanding financial and business characteristics not yet fully appreciated by the respective capital markets. Broad and specific geopolitical, macroeconomic and capital market analyses are then applied to appropriately adjust for country, continent, industry and overall portfolio risk exposure.

The International product is available in an ordinary-share or ADR-only structure.