Aggressive Value Fund
Return is shown net of fees. See performance below for additional disclosure.
Overall rated 1 star for the period ending 9/30/2021 out of 286 World Large Stock 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.
The Cambiar Aggressive Value Fund is a concentrated, non-diversified portfolio that is made up of the highest conviction names from our Opportunity, Small Cap, SMID, and International Equity Funds. In general, portfolio construction is based on a stock by stock analysis. The investment team will rely heavily on fundamentals and valuations while taking into consideration global macro events.
- Highly concentrated; 20-30 stock portfolio
- Opportunistic ‘best ideas’ strategy; holds stocks from Cambiar‘s existing products
- May hold derivatives, pair trades, and occasional short positions
- Conviction-weighted (‘bottom-up’) portfolio construction
Returns greater than 1 year are annualized. The performance data quoted represents past performance and 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. The Aggressive Value Fund is not a diversified fund. For performance data current to the most recent month-end, please call 1-866-777-8227.
Returns assume reinvestment of all dividend and capital gains distributions. Expense ratio is 1.29% (gross); 1.05% (net). Cambiar Investors, LLC has contractually agreed to reduce fees and reimburse expenses in order to keep net operating expenses from exceeding 0.95% of the average daily net assets of each of the Fund’s share classes until March 1, 2022. The MSCI World Index is an unmanaged index compiled by Morgan Stanley Capital International. Index returns do not reflect any management fees, transaction costs or expenses. Indices are unmanaged and one cannot invest directly in an Index.
The Fund charges a 2.00% redemption fee on redemptions of shares held for less than 180 days.
Top 10 holdings
Holdings subject to change. Excludes cash.
Sector Weights (%)
Top Countries (%)
Cambiar 2021 mutual fund capital gains estimates are now available.
Cap Gains & Income
Mutual fund investing involves risk, including the possible loss of principal. In addition to the normal risks associated with investing, international investments may involve risk of capital loss from unfavorable fluctuation in currency values, from differences in generally accepted accounting principles or from economic or political instability in other nations. Emerging Markets involve heightened risks related to the same factors as well as increased volatility and lower trading volume. The Fund may invest in derivatives, which are often more volatile than other investments and may magnify the Fund’s gains or losses. With short sales, you risk paying more for a security than you received from its sale. Short sales losses are potentially unlimited and the expenses involved with the shorting strategy may negatively impact the performance of the Fund. The Cambiar Aggressive Value Fund is a non-diversified fund. There is no guarantee that the Funds will meet their stated objectives.
To determine if a Fund is an appropriate investment for you, carefully consider the Fund’s investment objectives, risk factors, and charges and expenses before investing. This and other information can be found in the Fund’s summary or statutory prospectus which can be obtained by clicking here or calling 1-866-777-8227. Please read it carefully before investing.
©2021 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.
The Morningstar RatingTM for funds, or “star rating”, is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The Morningstar Rating does not include any adjustment for sales loads. The top 10% of products in each product 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 managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. CAMAX was rated against 286 World Large Stock Blend funds over a three year period, 252 funds over a five year period, and 147 funds over a ten year period. With respect to these World Large Stock Blend funds, CAMAX received a rating of 1 stars for the three year, 1 stars for the five-year period, and 1 stars for the ten-year period respectively. Past performance is no guarantee of future results.
Debt/Equity – Long Term – A calculation that takes interest-bearing, long-term debt divided by shareholder equity.
EPS Growth – Long Term – A calculation that takes the company’s estimated profits for five years divided by the outstanding shares. Active share is a holdings-based measure of active management representing the percentage of securities in a portfolio that differ from those in the benchmark index.
Price to Book (P/B) – A ratio used to compare a stock’s market value to its book value. It is calculated by dividing the current closing price of the stock by the latest quarter’s book value per share.
Price/Earnings F1Y – A ratio that divides the current share price by the estimates of earnings in the next four quarters.
These calculations are not a forecast of the Fund’s future performance.
Total Assets represents assets under management for all share classes combined and are subject to change.
This material represents the portfolio manager’s opinion and is an assessment of the market environment at a specific point in time and is not intended to be a forecast of future events or a guarantee of future results. This information should not be relied upon by the reader as research or investment advice or a specific recommendation of securities.
Cambiar Funds are distributed by SEI Investments Distribution Co., 1 Freedom Valley Dr. Oaks, PA 19456, which is not affiliated with the Advisor. Cambiar Funds are available to US investors only. Strategies included within the Separate Account section are not mutual funds and are not affiliated with SEI Investments Distribution Co.