Returns are presented net (n) of management fees and are reported in U.S. dollars. Cambiar’s performance includes the reinvestment of all income. Performance is preliminary; please contact us for finalized figures. As with any investments, there are risks to be considered. Past performance is no indication of future results.

Europe Select ADR – Returns reflect the Cambiar Europe Select ADR Composite. Net returns are reduced by transaction costs and by actual investment advisory fees and other expenses that may be incurred in the management of the account. Net returns for SMAs are calculated by deducting the investment advisory fees from the client’s account as reported by the wrap sponsor or affiliated broker, or as received by Cambiar. SMAs often incur bundled fees, charged by the wrap sponsor or affiliated broker, that may include transaction costs, investment management, portfolio monitoring, consulting services, and custody fees. Net of fees performance reflects a blended fee schedule of all accounts within the Europe Select ADR Composite. Cambiar clients may incur actual fee rates that are greater or less than the rate reflected in this performance summary. Fees will vary based on the assets in the accounts.

Global Equity – Returns reflect the Cambiar Global Equity Composite. Net returns are reduced by transaction costs and model investment advisory fees and other expenses that may be incurred in the management of the account. Net returns are calculated by subtracting the highest strategy fee (0.60% annually/0.05% monthly). The management fee schedule for separate accounts managed to the Global Equity strategy is as follows:  0.60% on the first $25 million; 0.50% on the next $50 million; 0.35% thereafter. SMAs often incur bundled fees, charged by the wrap sponsor or affiliated broker, that may include transaction costs, investment management, portfolio monitoring, consulting services, and custody fees. Cambiar clients and mutual fund investors may incur actual fee rates that are greater or less than the rate reflected in this performance summary. Fees will vary based on the assets in the accounts.

International Equity – Returns reflect the Cambiar International Equity Composite. Net returns are reduced by transaction costs and by actual investment advisory fees and other expenses that may be incurred in the management of the account. Net of fees performance reflects a blended fee schedule of all accounts within the International Equity Composite. Cambiar clients and mutual fund investors may incur actual fee rates that are greater or less than the rate reflected in this performance summary. Fees will vary based on the assets in the accounts.

International Equity ADR – Returns reflect the Cambiar International Equity ADR Composite. Net returns are reduced by transaction costs and by actual investment advisory fees and other expenses that may be incurred in the management of the account. Net returns for SMAs are calculated by deducting the investment advisory fees from the client’s account as reported by the wrap sponsor or affiliated broker, or as received by Cambiar. SMAs often incur bundled fees, charged by the wrap sponsor or affiliated broker, that may include transaction costs, investment management, portfolio monitoring, consulting services, and custody fees. Net of fees performance reflects a blended fee schedule of all accounts within the International Equity ADR Composite. Cambiar clients may incur actual fee rates that are greater or less than the rate reflected in this performance summary. Fees will vary based on the assets in the accounts.

Large Cap Value – Returns reflect the Cambiar Large Cap Value Composite (Institutional). Net returns are reduced by transaction costs and by actual investment advisory fees and other expenses that may be incurred in the management of the account. Net of fees performance reflects a blended fee schedule of all accounts within the Large Cap Value Composite (Institutional). Cambiar clients may incur actual fee rates that are greater or less than the rate reflected in this performance summary. Fees will vary based on the assets in the accounts.

Small Cap Value – Returns reflect the Cambiar Small Cap Value Composite. Net returns are reduced by transaction costs and by actual investment advisory fees and other expenses that may be incurred in the management of the account. Net returns for SMAs are calculated by deducting the investment advisory fees from the client’s account as reported by the wrap sponsor or affiliated broker, or as received by Cambiar. SMAs often incur bundled fees, charged by the wrap sponsor or affiliated broker, that may include transaction costs, investment management, portfolio monitoring, consulting services, and custody fees. Net of fees performance reflects a blended fee schedule of all accounts within the Small Cap Value Composite. Cambiar clients and mutual fund investors may incur actual fee rates that are greater or less than the rate reflected in this performance summary. Fees will vary based on the assets in the accounts

SMID Value – Returns reflect the Cambiar SMID Value Composite.  Net returns are reduced by transaction costs and by actual investment advisory fees and other expenses that may be incurred in the management of the account. Net returns for SMAs are calculated by deducting the investment advisory fees from the client’s account as reported by the wrap sponsor or affiliated broker, or as received by Cambiar. SMAs often incur bundled fees, charged by the wrap sponsor or affiliated broker, that may include transaction costs, investment management, portfolio monitoring, consulting services, and custody fees. Net of fees performance reflects a blended fee schedule of all accounts within the SMID Value Composite. Cambiar clients and mutual fund investors may incur actual fee rates that are greater or less than the rate reflected in this performance summary. Fees will vary based on the assets in the accounts.

Performance presented is intended for institutional client use only.  For more information, please access our GIPS Reports here.