Causeway Funds/Causeway Capital Management LLC

Home | About Us | Mutual Funds | Contact Us | Advisor Login
Fund Info
International Value Fund
Emerging Markets Fund
Global Value Fund
International Opportunities Fund
Overview
Profile
Performance
Distributions
Request Literature
Commentary

My Account

Login
Advisor Login
Request Literature

Market Center

as of 9/8/2010

(NAV, %change)
International Value Fund Investor Class (CIVVX) $11.07     .54%    
Institutional Class (CIVIX) $11.14     .45%    

Emerging Markets Fund Investor Class (CEMVX) $10.37     .77%    
Institutional Class (CEMIX) $10.30     .78%    

Global Value Fund Institutional Class (CGVIX) $7.54     .66%    

International Opportunities Fund Investor Class (CIOVX) $9.98     .5%    
Institutional Class (CIOIX) $9.98     .5%    
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.







Overview

The Causeway International Opportunities Fund is a fund of funds that invests in underlying funds that invest in both developed markets, excluding the United States, and emerging markets. The Investment Adviser allocates substantially all of the Fund's assets between Causeway International Value Fund and Causeway Emerging Markets Fund using a proprietary asset allocation model. Our quantitative team has developed a proprietary model that tactically allocates the percentages between the developed markets and the emerging markets.



We anticipate our developed markets exposure will add value through the bottom-up selection of undervalued stocks as well as the compounding of dividend returns. We anticipate our emerging markets exposure will add value through the use of our proprietary quantitative models that are a combination of bottom-up and top-down factors. Finally, our quantitative allocation model is designed to tactically allocate (within specified ranges) between emerging markets and developed markets based on their relative attractiveness.

Our developed markets security selection starts with a universe of 1,500 stocks with market capitalizations greater than $750 million. We apply value oriented screens (Payout Yield, Earnings Yield) to reduce this list to about 400 stocks. Our fundamental analysts then build detailed models using fundamental analysis on about 150 companies. The goal of the fundamental research process is a 2-year price target. Stocks are then ranked based on their expected risk-adjusted return. This ranking is used as the roadmap to portfolio construction through the use of a model portfolio.

As described earlier, our emerging markets strategy utilizes proprietary models that analyze a variety of fundamental, technical and macroeconomic factors to "score” a stock's prospective return forecast. Roughly 2/3rds of the factors in the model are bottom-up, while the other 1/3 are top-down factors. The emerging market portion the strategy is constructed using a proprietary optimizer.


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 prevent all investment losses.

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

There is no guarantee that the Causeway Funds will meet their stated objective. The Funds are available to U.S. investors only. There is a 2% redemption fee on the 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.