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Address And Details

PO Box 219009 , Kansas City, MO 64121
Fund Manager Brian M. Barish
Manager Tenure 14 Years 9 Months

Strategy And Objective

The Cambiar Global Ultra Focus Fund (the Fund ) seeks long-term capital appreciation. 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. For purposes of this policy, equity securities include common stocks and derivative instruments with economic characteristics similar to equity securities. The Fund may also sell securities short. This investment policy may be changed by the Fund upon 60 days prior written notice to shareholders. The equity securities in which the Fund invests are primarily common stocks and the Fund is generally unconstrained by any particular sector or market capitalization. The Fund s investments may occasionally include derivative instruments and short positions. The derivative instruments in which the Fund invests will primarily be call options. To a lesser extent, however, the Fund may also invest in put options and swaps. While the Fund is generally unconstrained within its equity universe, the Fund will typically invest in a portfolio of 20-30 issuers that the Adviser believes represent the best opportunities for long-term capital appreciation. Due to the highly focused nature of the Fund s investment strategy, the Fund is considered to be non-diversified, and may invest a significant portion of its assets in a relatively small number of securities. Under normal market conditions, the Fund will 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 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 Fund may invest 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. The Adviser s allocation among various foreign countries does not seek to replicate any particular index s country allocation by global capitalization or regional capitalization. There is no limit on investments in securities of foreign companies, including emerging markets companies. The Fund may purchase ADRs, rather than foreign shares that are traded on foreign exchanges, because the ADRs have greater liquidity or for other reasons. From time to time, the Fund may also focus its investments in a particular geographic region.

Net Asset Value

as of 5:49 PM ET 05/17/2022

Performance

  • 1 Week
  • +2.74%
  • 1 Month
  • -8.55%
  • 3 Months
  • -10.47%
  • 1 Yr Return
  • -14.53%
  • 5 Yr Return
  • +16.91%

Equity Sector Breakdown

Technology 34.68%
IndustrialCyclical 16.90%
RetailTrade 15.99%
Finance 13.59%
NonDurables 9.77%
Services 2.99%
ConsumerDurables n/a
Energy n/a
Health n/a
Utilities n/a

Asset Allocation

Asset Type % Of Allocation
Stocks 98.31%
ForeignStocks 30.27%
Cash 0.00%
Bonds 0.00%
Preferred 0.00%
Convertible 0.00%
Other 0.00%
ForeignBonds 0.00%
ForeignHedged 0.00%
Total Net Assets 53.69 M

Risk Measures

Criteria 3 Years 5 Years 10 Years
Alpha -6.67 -8.92 -6.63
Beta 1.12 1.13 1.21
R Squared 0.74 0.74 0.69
Std Deviation 24.41 21.65 19.84
Sharpe Ratio 0.38 0.26 n/a

Purchase Information

as of 5:49 PM ET 05/17/2022
Minimum Initial $2500
Minimum Additional $100
Minimum Initial IRA $500

Performance

Timeframe Average Annual Current Performance Monthly As Of 04/30/2022 Average Annual Current Performance Quarterly As Of 03/31/2022 Avg Annual Current Performance Monthly As Of 04/30/2022 Avg Annual Current Performance Quarterly As Of 03/31/2022
1 Year
  • -11.66%
  • -2.61%
-11.66% -2.61%
3 Year
  • +6.83%
  • +13.30%
+6.83% +13.30%
10 Year
  • +7.98%
  • +8.31%
+7.98% +8.31%
Life Of Fund
  • +6.87%
  • +7.49%
+6.87% +7.49%

Top 10 Holdings

Symbol Company Name % Of Assets
SAP SAP AG SPONSORED ADR 5.06%
UBER UBER TECHNOLOGIES INC 5.04%
EAF GRAFTECH INTERNATIONAL LTD 4.94%
AL AIR LEASE CORP 4.91%
EADSY AIRBUS SE 4.88%
GPS GAP INC 4.70%
FISV FISERV INC 4.48%
ENT.L ENTAIN PLC 4.37%
RTX RAYTHEON TECHNOLOGIES CORPOR 4.34%
PFG PRINCIPAL FINANCIAL GROUP 4.22%

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