Cambiar Small Cap Fund Investor CL — Cambiar Investors — Fact Sheet (July 2020)

2 slides from Cambiar Small Cap Fund Investor CL's fact sheet, July 2020

Slide 1: Cambiar International Equity
VW CAMBIAR INTERNATIONAL EQUITY Portfolio Attributes 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 2Q 2020 . Performance 20% 7 10% . eo I ~ -
Slide 2: Top Ten Country Allocations and Top Ten Holdings
Top Ten Country Allocations Top Ten Holdings Cambiar MSCI EAFE Security Weight Sector Germany 17.9% 9.3% SAP 3.8% Information Technology France 14.9% 10.9% Reckitt Benckiser 3.3% Consumer Staples United Kingdom 12.6% 13.3% Anglo American 3.0% Materials Japan 9.0% 25.4% Roche Holding 2.9% Healthcare