Causeway Funds/Causeway Capital Management LLC

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as of 1/5/2009

(NAV, %change)
International Value Fund Investor Class (CIVVX) $8.73     -1.49%    
Institutional Class (CIVIX) $8.77     -1.48%    

Emerging Markets Fund Investor Class (CEMVX) $5.68     1.76%    
Institutional Class (CEMIX) $5.65     1.95%    

Global Value Fund Institutional Class (CGVIX) $5.38     -1.12%    
The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth less than their original cost and current performance may be lower than the performance quoted. Please click the link above for standardized and month-end performance.







Team

Fundamental Research

+Sarah H. Ketterer
CEO, Portfolio Manager
Investment Experience: 22 Years

Current Position
Ms. Ketterer is the Chief Executive Officer of Causeway since June 2001. She is responsible for investment research in global financials and healthcare.

Prior Experience
From November 1996 to June 2001, Ms. Ketterer worked for the Hotchkis and Wiley division of Merrill Lynch Investment Managers ("HW-MLIM"). At HW-MLIM, she was a Managing Director and co-head of the firm's HW-MLIM International and Global Value team. Ms. Ketterer and the HW-MLIM international team were responsible for approximately $3.4 billion in international and global assets under management including the $1.1 billion Mercury HW International Value Fund. From 1990 to 1996, Ms. Ketterer was a portfolio manager at Hotchkis and Wiley, where she co-founded the international equity product. From 1987 to 1990, Ms. Ketterer was an associate with Bankers Trust Company's Merchant Banking Group and its affiliate, BT Securities Company, based in New York. At Bankers Trust, she evaluated merger, acquisition and restructuring opportunities for the Bank's major corporate clients in the U.S. and overseas. From 1983 to 1985, Ms. Ketterer was a financial analyst with Dean Witter Reynolds in the Corporate Finance Department. At Dean Witter, she analyzed potential investments, conducted financial due diligence on prospective acquisitions, and structured equity transactions in the public and private markets.

Education
Ms. Ketterer has a BA in Economics and Political Science from Stanford University and an MBA from the Amos Tuck School, Dartmouth College.
+Harry W. Hartford
President, Portfolio Manager
Investment Experience: 24 Years

Current Position
Mr. Hartford is the President of Causeway since June 2001. He is responsible for investment research in global financials and materials.

Prior Experience
From 1996 to June 2001, Mr. Hartford was a managing director for the Hotchkis and Wiley division of MLIM ("HW-MLIM") and co-head of the firm's HW-MLIM International and Global Value team. Mr. Hartford and the HW-MLIM international team were responsible for approximately $3.4 billion in international and global assets under management, including the $1.1 billion Mercury HW International Value Fund. From 1994 to 1996, Mr. Hartford was a portfolio manager for Hotchkis and Wiley. From 1984 to 1994, Mr. Hartford was with The Investment Bank of Ireland (now, Bank of Ireland Asset Management) where he gained ten years experience in both international and global equity management. At IBI, he managed the Bank's U.S. asset base of $1.5 billion invested primarily in international equities. During this time, Mr. Hartford also managed the Irish Investment Fund, a closed-end country fund quoted on the NYSE. Prior to that, he was responsible for the management of a range of international unit trusts and global funds registered in the U.K. and the Isle of Man. Before entering the investment business, Mr. Hartford lectured in micro and macro Economics at Oklahoma State University.

Education
Mr. Hartford has a BA, with honors, in Economics from the University of Dublin, Trinity College, an MSc in Economics from Oklahoma State University, and is a Phi Kappa Phi member.
+James A. Doyle
Portfolio Manager
Investment Experience: 15 Years

Current Position
Mr. Doyle is a Director of Causeway and has been with the firm since June 2001. He is responsible for investment research in global consumer discretionary, financials and information technology.

Prior Experience
From 1997 to June 2001, Mr. Doyle worked for the Hotchkis and Wiley division of Merrill Lynch Investment Managers ("HW-MLIM") as a Vice President and head of investment research for the HW-MLIM International and Global Value team. From 1996 to 1997, while a student at Wharton, Mr. Doyle was an equity research consultant for Morgan Stanley Asset Management, Inc. where he covered domestic and international property companies. From 1992 to 1995, he worked as a financial analyst at LaSalle Partners Limited, analyzing real estate investments for institutional clients.

Education
Mr. Doyle has a BA in Economics from Northwestern University and an MBA in Finance from the Wharton School, University of Pennsylvania.
+Jonathan P. Eng
Portfolio Manager
Investment Experience: 16 Years

Current Position
Mr. Eng is a Director of Causeway and has been with the firm since July 2001. He is responsible for investment research in consumer discretionary, industrials and materials. He has been a portfolio manager since February 2002.

Prior Experience
From 1997 to July 2001, Mr. Eng was an equity research associate for the Hotchkis and Wiley division of Merrill Lynch Investment Managers. In 1996, Mr. Eng worked as a summer research associate for Hotchkis and Wiley, performing U.K. and European equity research. From 1993 to 1995, Mr. Eng analyzed merger and acquisition candidates at Slusser Associates. From 1990 to 1993, Mr. Eng worked as a middle market corporate lender for Bank of Boston.

Education
Mr. Eng has a BA in History and Economics from Brandeis University and an MBA from the Anderson Graduate School of Management at UCLA.
+Kevin V. Durkin
Portfolio Manager
Investment Experience: 12 Years

Current Position
Mr. Durkin is a Vice President of Causeway and has been with the firm since July 2001. He is responsible for investment research in global consumer staples, industrials and energy. He has been a portfolio manager since January 2006.

Prior Experience
From 1999 to July 2001, Mr. Durkin worked as an equity research associate for the Hotchkis and Wiley division of Merrill Lynch Investment Managers. During the summer of 1998, he worked as a research associate at Putnam Investments, where he was responsible for small cap equity research. From 1996 to 1998, Mr. Durkin was a research analyst at Lazard Freres covering high yield and/or distressed companies in various industries such as food manufacturing, beverages, supermarkets, restaurants and electric utilities. From 1995 to 1996, Mr. Durkin was a financial analyst in the Corporate Finance division of Chase Manhattan Bank where he performed credit analysis on large capitalization insurance companies.

Education
Mr. Durkin has a BS, cum laude, from Boston College and an MBA from the University of Chicago.
+Kelly Sueoka
Research Associate
Investment Experience: 14 Years

Current Position
Mr. Sueoka is a research associate for Causeway since April 2006.

Prior Experience
From 2002 to 2005, Mr. Sueoka was a principal and portfolio manager at Pacific Financial Research Investment Management. He was a member of the investment team that managed a large capitalization US value equity strategy with over $17 billion in assets under management, including the Clipper Fund. From 1995 to 2001, Mr. Sueoka was an equity analyst for Pacific Financial Research Investment Management covering the chemical, real estate, aerospace/defense, computer services and hospital industries. In 1994, Mr. Sueoka was an equity analyst at Hanson Investment Management Company covering a broad range of industries. From 1989 to 1993, prior to joining the investment management industry, Mr. Sueoka was a flight test engineer for McDonnell Douglas Corporation.

Education
Mr. Sueoka has an MBA from the University of Chicago and a BS, magna cum laude, in Aerospace Engineering from the University of Michigan.
+Tisha Ajimine
Research Associate
Investment Experience: 12 Years

Current Position
Ms. Ajimine is responsible for investment research in global information technology and telecom services since July 2001.

Prior Experience
From 1999 to July 2001, Ms. Ajimine was an equity research associate for the Hotchkis and Wiley division of Merrill Lynch Investment Managers. During the summer of 1998, she worked as a securities analyst at Franklin Templeton where she was responsible for the telecommunications industry. From 1994 to 1997, Ms. Ajimine was an associate in BankAmerica Corporation's corporate banking division where she analyzed credit risk and cash flow generation ability of companies in the healthcare, media and aerospace industries.

Education
Ms. Ajimine has a BS, cum laude, in Business from the University of Southern California and an MBA in Finance from the Anderson Graduate School of Management at UCLA.
+Kim Henney, CFA
Research Associate
Investment Experience: 10 Years

Current Position
Ms. Henney is responsible for investment research in global information technology and telecommunication services since June 2001.

Prior Experience
From 1998 to June 2001, Ms. Henney was a research analyst for the Hotchkis and Wiley division of Merrill Lynch Investment Managers and completed the MLIM 1998 Analyst Training Program. For the first two years, Ms. Henney was a quantitative research analyst.

Education
Ms. Henney has a BA in Economics from Yale University and is a CFA charterholder.
+Conor Muldoon, CFA
Research Associate
Investment Experience: 13 Years

Current Position
Mr. Muldoon is responsible for investment research in global utilities and materials since August 2003.

Prior Experience
From 1995 to June 2003, Mr. Muldoon was an investment consultant for Fidelity Investments where he served as a liaison between institutional clients and investment managers within Fidelity. He was responsible for communicating current information on the financial markets, the economy and investment performance.

Education
Mr. Muldoon has a BSc and MA from the University of Dublin, Trinity College and an MBA, with high honors, from the University of Chicago. Mr Muldoon was inducted into the Beta Gamma Sigma honors society and is also a CFA charterholder.
+Foster Corwith, CFA
Research Associate
Investment Experience: 7 Years

Current Position
Mr. Corwith is a research associate at Causeway. He joined the firm in July 2006.

Prior Experience
During the summer of 2005, Mr. Corwith worked as a research analyst at Deutsche Asset Management, where he was responsible for researching consumer staples companies. From 2003 to 2004, Mr. Corwith was an analyst in the corporate services group for the Pershing division of Bank of New York where he led the connectivity conversions of over 200 companies and was responsible for establishing firm-wide policies on data communication and transmission policies. From 2001- 2003, Mr. Corwith was a project manager at Credit Suisse First Boston where he managed the department's strategic relationships with technology vendors. From 2000-2001, Mr. Corwith was a management trainee at Donaldson Lufkin & Jenrette working with their equity research team.

Education
Mr. Corwith has an MBA from the University of Chicago and a BA, cum laude, from Tufts University. Mr. Corwith is a CFA charterholder.
+Alessandro Valentini, CFA
Research Associate
Investment Experience: 7 Years

Current Position
Mr. Valentini is a research associate at Causeway. He joined the firm in July 2006.

Prior Experience
During the summer of 2005, Mr. Valentini worked as a research analyst at Thornburg Investment Management where he conducted fundamental research for the international value and domestic value departments, focusing on European telecommunication and Canadian oil sectors. From 2004-2005, Mr. Valentini worked as a research analyst intern at Miura Global Capital where he developed and updated financial models for the firm's investments. From 2000-2004, Mr. Valentini worked as a financial analyst at Goldman Sachs where he performed analysis and screening of European companies and industries.

Education
Mr. Valentini has an MBA from Columbia Business School, with honors, an MA in Economics from Georgetown University and a BS, magna cum laude, from Georgetown University. Mr. Valentini was inducted into the Beta Gamma Sigma honors society and is a Phi Beta Kappa member. Mr Valentini is also a CFA charterholder.
+Victor Liu, CFA
Research Associate
Investment Experience: 7 Years

Current Position
Mr. Liu is a research associate at Causeway. He joined the firm in April 2005.

Prior Experience
From 2002 to 2004, Mr. Liu worked at Merrill Lynch's Investment Banking Group conducting merger & acquisition and corporate finance transactions. From 1999 to 2001, Mr. Liu worked at McKinsey & Company advising companies on issues of strategy.

Education
Mr. Liu has a BA, magna cum laude, in Economics from Pomona College and is a Phi Beta Kappa member. Mr. Liu also completed Chinese language studies at the Inter-University Program (IUP) at National Taiwan University through a Rotary Ambassadorial Scholarship. Mr. Liu is also a CFA charterholder.
+Ellen Lee
Research Associate
Investment Experience: 5 Years

Current Position
Ms. Lee is a research associate for Causeway. She joined the firm in August 2007.

Prior Experience
From 2001-2004, Ms. Lee was an associate in the Mergers and Acquisitions division of Credit Suisse First Boston in Seoul, and from 1999-2000, she was an analyst in the Mergers and Acquisitions division of Credit Suisse First Boston in Hong Kong.

Education
Ms. Lee has a BA in Business Administration from Seoul National University and an MBA from the Stanford Graduate School of Business.
+Daniel Heyman, CFA
Research Analyst
Investment Experience: 8 Years

Current Position
Mr. Heyman has been a Research Analyst at Causeway since August 2005.

Prior Experience
From April 2004 to August 2005, Mr. Heyman was the Chief Compliance Officer at Causeway. From August 2003 to April 2004, Mr. Heyman was an associate for PricewaterhouseCoopers LLP. While at PricewaterhouseCoopers, Mr. Heyman investigated accounting transactions for fraud and misapplication of accounting principles.

Education
Mr. Heyman has a MAcc in Accounting from the University of Southern California and a BA in Business Administration from the Haas School of Business of the University of California, Berkeley. Mr. Heyman is a CPA and CFA and is an Associate Member of the Association of Certified Fraud Examiners.

Quantitative Research


+Arjun Jayaraman, PhD, CFA
Head of Quantitative Research
Investment Experience: 10 Years

Current Position
Dr. Jayaraman joined the firm in January 2006 and is head of the quantitative research group at Causeway . He has been co-portfolio manager of Causeway’s international market neutral equity strategy since January 2006 and co-portfolio manager of the Causeway Emerging Markets Fund since March 2007.

Prior Experience
From 2004 to 2005, Dr. Jayaraman was a portfolio manager at PanAgora Asset Management. He was the lead portfolio manager on the non-U.S. large cap core equity portfolios and was the co-portfolio manager on the global large cap core equity portfolios. From 2000-2004, Dr. Jayaraman managed the same portfolios at Putnam Investments, in addition to working closely with the teams that managed Putnam's traditional non-U.S. strategies. From 1998-2000, Dr. Jayaraman worked as a quantitative analyst at Harborview Trading Associates.

Education
Dr. Jayaraman has a PhD from New York University (Stern School of Business), a BA in Economics from Columbia University, and is a CFA charterholder.
+MacDuff Kuhnert, CFA
VP, Quantitative Research
Investment Experience: 12 Years

Current Position
Mr. Kuhnert performs quantitative research for Causeway. His responsibilities include product development, asset allocation, risk management, and the design and implementation of proprietary valuation models and other quantitative tools. He joined the firm in July 2001 and has been a co-portfolio manager of Causeway’s international market neutral equity strategy since July 2003 and co-portfolio manager of the Causeway Emerging Markets Fund since March 2007.

Prior Experience
From 1996 to July 2001, Mr. Kuhnert worked for the International and Global Value Equity Team of the Hotchkis and Wiley division of Merrill Lynch Investment Managers (HW-MLIM) as a quantitative research associate. During his tenure at HW-MLIM, Mr. Kuhnert created and developed advanced quantitative models used in the international value investment process. In 1998, he attended the Mercury Asset Management Fund Manager Training Programme in London.

Education
Mr. Kuhnert has a BA in Chemistry from Dartmouth College. He is a CFA charterholder and member of the Los Angeles Society of Financial Analysts.
+Joe Gubler
Research Associate
Investment Experience: 3 Years

Current Position
Mr. Gubler is responsible for conducting quantitative research and investment research on companies in Causeway's international market neutral equity strategy since April 2005.

Prior Experience
From 2002 to April 2005, Mr. Gubler worked as Director of Engineering for the MonsterTRAK division of Monster.com. He was responsible for a cross-functional team that developed, enhanced, and maintained the software that powers the monstertrak.com web site. From 1999 to 2002, Mr. Gubler developed database-enabled web applications for a wide range of companies, including the National Academy of Recording Arts and Sciences, the Recording Industry Association of America, Disney, NameSafe.com, and Array Networks. While studying astrophysics at UC San Diego, Mr. Gubler worked as a Graduate Research Assistant in the Jet Propulsion Laboratory's stellar interferometry group.

Education
Mr. Gubler has a BS, cum laude, in Physics from UC Irvine, an MS in Physics from UC San Diego, and an MBA from the UCLA Anderson Graduate School of Management. Mr. Gubler has successfully completed the CFA Level II examination.
+Min Zhang
Research Analyst
Investment Experience: 3 Years

Current Position
Ms. Zhang is a research analyst for Causeway. She joined the firm in November 2007.

Prior Experience
From July 2005 to October 2007, Ms. Zhang was a research associate at Lehman Brothers, where she was responsible for companies in the semiconductor industry. From January 2005 to May 2005, Ms. Zhang was a research assistant at the Tuck School of Business.

Education
Ms. Zhang has an AB in Computer Science and Economics, magna cum laude, from Dartmouth College.








Investing involves risk including loss of principal. In addition to the normal risks associated with investing, international investments may involve risk of capital loss from unfavorable fluctuation in currency values, from differences in generally accepted accounting principles or from economic or political instability in other nations. Emerging markets involve heightened risks related to the same factors as well as increased volatility and lower trading volume. Diversification does not protect against loss.

To determine if the Funds are an appropriate investment for you, carefully consider the Funds' investment objectives, risk factors, charges and expenses before investing. This and other information can be found in the Funds' prospectus, which may be viewed and downloaded by clicking the link above or by calling 1-866-947-7000. Read it carefully before investing.

There is no guarantee that the Funds will meet their stated objective. The Funds are available to U.S. investors only. There is a 2% redemption fee on the original value of direct investments withdrawn within 60 days. This is to protect shareholders from short-term investors who can hurt performance for long-term shareholders. Many of the financial intermediaries through whom shareholders invest in the Funds also apply the Funds redemption fee or other frequent trading restrictions.

The Causeway Funds are distributed by SEI Investments Distribution Co. (SIDCO). SIDCO is not affiliated with Causeway Capital Management LLC.