Seeking value throughout worldwide developed and emerging markets

Investment Objective

The Fund’s investment objective is to seek long-term growth of capital.

Investment Process

The Fund invests at least 80% of its total assets in equity securities of companies in the U.S and in developed and emerging countries outside the U.S. The Fund will typically hold between 25 and 35 investments. Equity securities include common stock, preferred and preference stock, depositary receipts and other similar securities.

YTD Return*
+13.45%
Nav*
$10.88, -0.05
Inception
December 15, 2020
Cusip
14951G104
Benchmark
MSCI ACWI
Minimum Investment
$1,000,000
Sales Charge
None
Net Expense Ratio
0.85%
Gross Expense Ratio
3.09%
*As of June 05, 2023
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Contact Us

Research overview

Portfolio managers Joe Gubler and Steve Nguyen discuss fundamental and quantitative research at Causeway.

Portfolio managers

Fundamental Portfolio Manager
Fundamental Portfolio Manager
President
Head of Fundamental Research
Fundamental Portfolio Manager
Chief Executive Officer
Fundamental Portfolio Manager
Fundamental Portfolio Manager
Fundamental Portfolio Manager
Fundamental Portfolio Manager
Fundamental Portfolio Manager
Quantitative Portfolio Manager

Performance

QTD YTD 1 year Since inception
Fund -1.0%10.5%5.6%5.7%
MSCI ACWI 0.5%7.9%1.4%3.0%
QTD YTD 1 year Since inception
Fund -1.0%10.5%5.6%5.7%
MSCI ACWI 0.5%7.9%1.4%3.0%
QTD YTD 1 year Since inception
Fund 11.7%11.7%5.2%6.7%
MSCI ACWI 7.4%7.4%-7.0%3.0%
QTD YTD 1 year Since inception
Fund 11.7%11.7%5.2%6.7%
MSCI ACWI 7.4%7.4%-7.0%3.0%
202220212020
Fund -11.7%15.8%N/A
MSCI ACWI -18.0%19.0%N/A
Fund
MSCI ACWI
202220212020
-11.7%15.8%N/A
-18.0%19.0%N/A

Portfolio (as of April 30, 2023)

Benchmark: MSCI ACWI
Asset Allocation
Fund
Stocks 96.6%
Cash 3.4%
Fund Characteristics
Fund Benchmark
No. of holdings 26 2884
Weighted avg. market cap (US $MM) $99,673 $333,637
FY2 price/earnings 12.2 14.7
Price/book value 1.9 2.6
Net assets $4,004,734 -
TOP 10 HOLDINGS
Security Country Percent
Rolls-Royce Holdings Plc United Kingdom 5.8%
Alphabet, Inc. United States 5.5%
Fiserv, Inc. United States 5.4%
SAP SE Germany 5.3%
Carrefour SA France 5.2%
Enel SpA Italy 5.2%
Murata Manufacturing Co. Ltd. Japan 4.8%
Citigroup, Inc. United States 4.5%
Leidos Holdings, Inc. United States 4.3%
UniCredit S.p.A. Italy 4.2%

A “weighted average” measures a characteristic by the market capitalization of each stock. Price/book ratio is the weighted average of the price/book ratios of all the stocks in a portfolio. The P/B ratio of a company is calculated by dividing the market price of its stock by the company’s per-share book value. The price/earnings ratio is the weighted average of the price/earnings ratios of the stocks in a portfolio. The FY2 P/E ratio is a forward P/E ratio using a next-twenty-four months EPS estimate in the denominator.

Holdings are subject to change.

SECTOR WEIGHTS
Sector Fund Benchmark
Information Technology 32.4% 22.0%
Financials 13.7% 14.1%
Industrials 13.0% 10.1%
Health Care 9.5% 12.6%
Communication Services 8.2% 7.3%
Materials 6.7% 4.8%
Consumer Staples 5.2% 7.6%
Utilities 5.2% 3.0%
Consumer Discretionary 2.8% 10.9%
Energy 0.0% 5.1%
Real Estate 0.0% 2.4%
TOP 10 COUNTRIES
Country Fund Benchmark
United States 42.5% 60.5%
Italy 9.4% 0.6%
Switzerland 9.2% 2.6%
United Kingdom 8.4% 3.9%
Japan 6.8% 5.4%
South Korea 6.6% 1.3%
Germany 5.3% 2.2%
France 5.2% 3.3%
Ireland 3.1% 0.2%
Israel 0.0% 0.2%
Regional Allocation
  • North America 42.5%
  • Europe – other 40.7%
  • Pacific 6.8%
  • Emerging Asia 6.6%

Distributions

Dividends Short-term capital gains Long-term capital gains
2022 $0.0716 $0.0000 $0.0000
2021 $0.1201 $0.6756 $0.0000
2020 $0.0007 $0.0000 $0.0000

Distributions are per share. Distribution amounts are based on gains and losses realized and income earned by the Fund through October 31 (or earlier under certain circumstances).

Documents

Fund information:

Forms: