River Road’s International Equity ADR Strategy seeks to provide long-term capital appreciation by investing primarily in non-U.S. companies trading as ADRs or otherwise traded in the United States. The Strategy seeks to invest in high quality companies with improving fundamentals, trading at attractive valuations. The stock selection process is complemented by a risk averse approach that employs balanced diversification and a structured sell discipline.
The International Equity ADR Strategy seeks to outperform the MSCI EAFE benchmark by more than 200 bps gross of fees annualized over a market cycle.
The International Equity ADR Portfolio’s investment universe consists of all ADRs with minimum market capitalizations of $3 B and average daily liquidity of $5 MM (including both ADR and local market liquidity).
International Equity ADR Strategy Inception Date: January 1, 2014