Wed, 05/12/2012 - 12:09
Cambiar Investors has contractually agreed to reduce the net operating expenses for the Cambiar International Equity Fund Investor Share by 0.10 per cent, effective as of 1 September 2012.
As part of the agreement, Cambiar will also limit the management fee to no more than 0.90 per cent, excluding interest, taxes, brokerage commissions, acquiring fund fees and expenses, and extraordinary expenses.
The new net operating expense will now be 1.20 per cent; previously it had been capped at 1.30 per cent.
“Reducing the net operating expense on the Cambiar International fund allows us to be even more competitive in the growing international investing landscape and more importantly provides our clients with the opportunity to reach their long-term goals,” says Nancy Wigton, principal and director of marketing at Cambiar Investors.
In response to the growing demand from institutional clients, Cambiar has also launched an institutional share class version of the Cambiar International Equity Fund. The goal of the portfolio is to seek long term total return and capital preservation, which is consistent with the investor share class. The minimum deposit for this institutional fund is USD5m with a net operating expense of 0.95 per cent, effective 30 November 2012. Like all of the investor (retail) classes of the Cambiar Funds, the new institutional share class has no 12b-1 fees or sales charges.
“We are excited to expand our product offering to the institutional marketplace,” says Wigton. “We believe the lower total expense ratio of 0.95 per cent, coupled with our history of performance, should make these funds very attractive for the institutional investor. This new offering will allow them to access Cambiar’s time tested relative value philosophy and enable us to compete more effectively for additional assets.”
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