Cambiar Small Cap Fund Investor CL — Cambiar Investors — Fact Sheet (July 2019)

2 slides from Cambiar Small Cap Fund Investor CL's fact sheet, July 2019

Slide 1: Cambiar International Equity ADR
VW CAMBIAR INTERNATIONAL EQUITY ADR Portfolio Attributes 2Q 2019 » 40-50 stock portfolio » Up to 15% (at cost) in emerging markets » Diversified across sectors, countries, regions * Conviction-weighted ‘bottom-up’ construction » Typical time horizon for holdings: 1-2 years Performance “10% 2a19 YTD
Slide 2: Top Ten Country Allocations and Top Ten Holdings
Top Ten Country Allocations Top Ten Holdings Germany 16.3% 8.8% SAP 3.2% Information Technology France 14.1% 11.4% Royal DSM 3.1% Materials Japan 14.0% 23.7% Danone 3.0% Consumer Staples Netherlands 13.2% 4.6% Royal Dutch Shell 2.9% Energy United Kingdom 12.5% 15.3% Repsol 2.5% Energy Spain 6.7% 3.0