International Small Cap Equity Strategy

Why Choose This Strategy?

• For investors seeking long-term appreciation through an allocation to small-cap international stocks.
• As an actively managed, value-oriented, international small-cap equity holding.

Investment Strategy

• Strict, value-oriented approach that seeks out substantially underpriced companies with strong business fundamentals and proven shareholder-oriented management teams.
• Bottom-up selection process leads to the selection of 35-70 attractive small-cap companies from our approved list of international stocks.
• Market capitalization focus is less than $7.5 billion at the time of initial purchase.
• There are no specific country, sector or industry targets, as allocations are determined entirely through the stock selection process.
• Typically, portfolios have no more than 30% invested in a single country and no more than 25% in any industry.
• Position sizes are subject to a 7% maximum at the time of initial purchase.
• Foreign currency exposure may be hedged defensively for any currencies deemed significantly overvalued.
• Investment in emerging market securities is permitted only in countries that meet specific legal standards.