Cambiar Global Equity Investor
Name
As of 03/18/2022Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
-33.5%
1 yr return
0.3%
3 Yr Avg Return
9.4%
5 Yr Avg Return
7.5%
Net Assets
$9.19 M
Holdings in Top 10
24.9%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 0.88%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 38.00%
Redemption Fee 2.00%
Min Investment
Standard (Taxable)
$2,500
IRA
$500
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 03/18/2022Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
CAMGX - Profile
Distributions
- YTD Total Return -33.5%
- 3 Yr Annualized Total Return 9.4%
- 5 Yr Annualized Total Return 7.5%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 0.27%
- Dividend Yield 0.5%
- Dividend Distribution Frequency Annually
Fund Details
-
Legal NameCambiar Global Equity Fund
-
Fund Family NameCambiar Funds
-
Inception DateNov 30, 2011
-
Shares Outstanding1018220
-
Share ClassInv
-
CurrencyUSD
-
Domiciled CountryUnited States
-
ManagerAnna (Ania) Aldrich
Fund Description
Under normal circumstances, the Fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities of companies located throughout the world. This investment policy may be changed by the Fund upon 60 days’ prior written notice to shareholders. Although the Fund is permitted to invest in securities of any market capitalization, it typically invests in securities of companies with market capitalizations of $3 billion or greater and expects, under normal market conditions, to invest in at least three different countries and invest at least 40% (or, if conditions are not favorable, invest at least 30%) of its
assets in foreign companies. The equity securities in which the Fund generally invests are common stocks and American Depositary Receipts (“ADRs”), which are traded on U.S. exchanges and represent an ownership interest in a foreign security. The Fund may consider a company to be a “foreign company” if: (i) 50% of the company’s assets are located outside of the United States; or (ii) 50% of the company’s revenues are generated outside of the United States; or (iii) the company is domiciled or doing a substantial amount of business outside of the United States. The majority of these companies operate in “established” markets; however, when opportunities warrant, the Fund may invest up to 25% of its assets in securities of companies in “emerging market” countries. An “emerging market” country is any country determined by the Adviser to have an emerging market economy, considering factors such as the country’s credit rating, its political and economic stability and the development of its financial and capital markets. Typically, emerging markets are in countries that are in the process of industrializing, with lower gross national products than more developed countries.
In selecting investments for the Fund, the Adviser uses a fundamental, relative value investment approach to build a diversified portfolio of companies that meet the following criteria:
● | Quality – The Adviser seeks to identify companies that possess strong competitive positions within their sector or industry, and offer a track record of innovation and product leadership as well as strong pricing and cost discipline. The Adviser prefers companies that possess strong financial characteristics such as low leverage and sufficient liquidity. |
● | Valuation – The Adviser uses conventional valuation metrics, such as price-to-earnings and price-to-book ratios, to identify companies that are trading at the lower end of their long-term valuation range. |
● | Catalyst – The Adviser seeks to identify a fundamental positive development or catalyst (such as the onset of a new product or pricing cycle, resolution of a transitory overhang or normalization of the business’s cash flow, margins and/or earnings) that it believes can positively change investors’ perception of a company, but has not yet been recognized by the market. |
● | Hurdle Rate – The Adviser seeks to identify companies that it believes have the ability to generate a significant investment return consisting of both capital appreciation and dividend income, typically over a 1-2 year time horizon, and is based on the company returning to its normal (not peak) earnings and valuation. |
The Adviser constructs the Fund’s portfolio on a security-by-security basis, with the goal of building a portfolio that strikes a balance between the Adviser’s conviction in an investment and portfolio diversification. The Adviser seeks to manage the Fund’s risk through its research process as well as limits on individual position sizes and allocations to an economic sector or individual country.
The Adviser will consider liquidating or reducing its investment in a company if: (a) the investment thesis is realized and the stock reaches its price target, (b) the stock price increases disproportionately relative to actual company developments, (c) position size, country or sector limits are reached, or (d) there is a negative change in fundamentals, or the investment thesis fails to develop as expected. The Adviser will not sell a stock simply because of a decline in price, and may add to the position if the investment thesis remains intact.
CAMGX - Performance
Return Ranking - Trailing
Period | CAMGX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -33.5% | -35.6% | 29.2% | 21.92% |
1 Yr | 0.3% | 17.3% | 252.4% | 51.70% |
3 Yr | 9.4%* | -3.5% | 34.6% | 72.87% |
5 Yr | 7.5%* | 0.1% | 32.7% | 75.57% |
10 Yr | 7.6%* | -6.9% | 18.3% | N/A |
* Annualized
Return Ranking - Calendar
Period | CAMGX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 0.5% | -24.3% | 957.1% | 74.47% |
2022 | 4.6% | -38.3% | 47.1% | 52.72% |
2021 | 20.9% | -54.2% | 0.6% | 79.27% |
2020 | -19.2% | -76.0% | 54.1% | 76.13% |
2019 | 13.6% | -26.1% | 47.8% | 38.92% |
Total Return Ranking - Trailing
Period | CAMGX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -33.5% | -35.6% | 29.2% | 22.48% |
1 Yr | 0.3% | 11.4% | 252.4% | 47.61% |
3 Yr | 9.4%* | -3.5% | 34.6% | 70.68% |
5 Yr | 7.5%* | 0.1% | 32.7% | 74.50% |
10 Yr | 7.6%* | -6.9% | 18.3% | N/A |
* Annualized
Total Return Ranking - Calendar
Period | CAMGX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 0.5% | -24.3% | 957.1% | 74.47% |
2022 | 4.6% | -33.1% | 47.1% | 53.10% |
2021 | 20.9% | -44.4% | 1.8% | 71.06% |
2020 | -15.8% | -6.5% | 54.1% | 75.11% |
2019 | 18.0% | -14.4% | 47.8% | 49.76% |
NAV & Total Return History
CAMGX - Holdings
Concentration Analysis
CAMGX | Category Low | Category High | CAMGX % Rank | |
---|---|---|---|---|
Net Assets | 9.19 M | 199 K | 133 B | 94.30% |
Number of Holdings | 48 | 1 | 9075 | 70.48% |
Net Assets in Top 10 | 2.4 M | -18 M | 37.6 B | 94.82% |
Weighting of Top 10 | 24.88% | 9.1% | 100.0% | 70.02% |
Top 10 Holdings
- Motorola Solutions Inc 2.80%
- Marvell Technology Inc 2.72%
- First American Treasury Obligs X 2.72%
- Mastercard Inc Class A 2.67%
- The Home Depot Inc 2.65%
- Airbus SE ADR 2.64%
- Amazon.com Inc 2.64%
- Sysco Corp 2.61%
- Alphabet Inc Class A 2.53%
- Burlington Stores Inc 2.51%
Asset Allocation
Weighting | Return Low | Return High | CAMGX % Rank | |
---|---|---|---|---|
Stocks | 97.29% | 61.84% | 125.47% | 47.58% |
Cash | 2.72% | -174.70% | 23.12% | 47.47% |
Preferred Stocks | 0.00% | -0.01% | 5.28% | 77.53% |
Other | 0.00% | -13.98% | 19.14% | 79.30% |
Convertible Bonds | 0.00% | 0.00% | 4.46% | 75.33% |
Bonds | 0.00% | -1.50% | 161.67% | 75.99% |
Stock Sector Breakdown
Weighting | Return Low | Return High | CAMGX % Rank | |
---|---|---|---|---|
Technology | 22.84% | 0.00% | 49.87% | 74.12% |
Financial Services | 19.83% | 0.00% | 38.42% | 19.93% |
Industrials | 12.35% | 0.00% | 44.06% | 29.52% |
Healthcare | 12.16% | 0.00% | 35.42% | 20.26% |
Consumer Defense | 10.94% | 0.00% | 73.28% | 26.10% |
Consumer Cyclical | 10.60% | 0.00% | 40.94% | 29.63% |
Communication Services | 4.69% | 0.00% | 57.66% | 85.57% |
Utilities | 4.27% | 0.00% | 29.12% | 50.00% |
Basic Materials | 2.32% | 0.00% | 38.60% | 70.81% |
Real Estate | 0.00% | 0.00% | 39.48% | 95.81% |
Energy | 0.00% | 0.00% | 21.15% | 93.28% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | CAMGX % Rank | |
---|---|---|---|---|
US | 53.02% | 0.13% | 103.82% | 74.89% |
Non US | 44.27% | 0.58% | 99.46% | 18.50% |
CAMGX - Expenses
Operational Fees
CAMGX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.88% | 0.01% | 44.27% | 25.54% |
Management Fee | 0.75% | 0.00% | 1.82% | 61.49% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.01% | 0.76% | 42.51% |
Sales Fees
CAMGX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 2.50% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
CAMGX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | 2.00% | 1.00% | 2.00% | 66.67% |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
CAMGX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 38.00% | 0.00% | 395.00% | 75.92% |
CAMGX - Distributions
Dividend Yield Analysis
CAMGX | Category Low | Category High | CAMGX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.45% | 0.00% | 3.26% | 75.16% |
Dividend Distribution Analysis
CAMGX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Annually | Annually | Annually | Annually |
Net Income Ratio Analysis
CAMGX | Category Low | Category High | CAMGX % Rank | |
---|---|---|---|---|
Net Income Ratio | 0.27% | -4.27% | 12.65% | 57.61% |
Capital Gain Distribution Analysis
CAMGX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Semi-Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Dec 31, 2018 | $0.170 | |
Dec 29, 2017 | $0.175 | |
Dec 30, 2016 | $0.076 | |
Dec 31, 2015 | $0.065 | |
Dec 31, 2014 | $0.192 | |
Dec 31, 2013 | $0.051 | |
Dec 31, 2012 | $0.103 |
CAMGX - Fund Manager Analysis
Managers
Anna (Ania) Aldrich
Start Date
Tenure
Tenure Rank
Nov 30, 2011
10.25
10.3%
Ania Aldrich is an Investment Principal at Cambiar Investors. In addition to her research responsibilities, Ania also serves as co-Portfolio Manager of the Cambiar Global Equity strategy. Prior to joining Cambiar in 1999, Ms. Aldrich was a global equity analyst at Bankers Trust, where she covered the financial services and transportation sectors. Ania began her investment career as a senior investor relations professional at BET PLC, a New York based communications firm. Ms. Aldrich received an MBA in Finance from Fordham University, a BA in Computer Science from Hunter College and holds the Chartered Financial Analyst designation.
Todd Edwards
Start Date
Tenure
Tenure Rank
Nov 30, 2011
10.25
10.3%
Todd Edwards is an Investment Principal at Cambiar Investors. In addition to his company research responsibilities, Mr. Edwards also oversees Cambiar’s macroeconomic and policy research efforts. Todd also serves as co-Portfolio Manager for the Cambiar Global Equity and International Small Cap strategies. Prior to joining Cambiar in 2007, Todd was a Director in the Global Emerging Markets Group at Citigroup. Todd also served as Director of Research and Equity Strategist at BBVA Securities. Mr. Edwards began his investment career as a research analyst at Salomon Brothers. An accomplished author, he has written books on Brazil and Argentina. Mr. Edwards received a PhD and MA from Tulane University and a BA from Colorado College.
Munish Malhotra
Start Date
Tenure
Tenure Rank
Apr 20, 2020
1.86
1.9%
Munish Malhotra is an Investment Principal at Cambiar Investors. Prior to joining Cambiar in 2017, Mr. Malhotra worked at Marsico Capital Management as a Portfolio Manager/Senior Analyst for the International Opportunities and Global Flexible Capital strategies. Munish began his career at Driehaus Capital Management in Chicago as a Research Associate. Mr. Malhotra received an MA in Economics from Denver University and a BA in Finance and International Studies at Loyola University in Chicago and holds the Chartered Financial Analyst designation.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.01 | 35.82 | 6.24 | 1.25 |