Andrew Daniels: Gold-rated Causeway International Value benefits from a deep and talented investment staff as well as a disciplined value approach.
The managers seek non-U.S. firms that are facing operational, but not financial, distress. Causeway's fundamental analysts dive into prospective holdings--meeting with management teams, conducting competitor analyses, and building valuation models--before assigning each with a two-year price target. The firm's quant team helps to offset company-specific risk with a risk overlay that weighs expected return against potential volatility. Management then buys the names that look most attractive on a risk-adjusted basis, and holds on for the long term.
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Andrew Daniels does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.