Cambiar Investors, LLC is giving investors early Christmas gifts this year.
The Denver firm contractually agreed to reduce net operating expenses for the Cambiar International Equity Fund Investor Share (ticker: CAMIX) by 10 basis points, effective as of Sept. 1, 2012. The new net operating expense will now be at 1.20%, down from 1.30%.
As part of the agreement, Cambiar will also limit the management fee to at most 90 basis points, excluding interest, taxes, brokerage commissions, acquiring fund fees and expenses and extraordinary expenses.
“Reducing the net operating expense on the Cambiar International fund allows us to be even more competitive in the growing international investing landscape and more importantly provides our clients with the opportunity to reach their long-term goals,” said Nancy Wigton, principal and director of marketing in a press statement.
In the same press statement, Cambiar announced it has launched an institutional share class version of the same fund (ticker: CAMYX).
The portfolio seeks long-term total return and capital preservation. The minimum deposit for the institutional fund is $5 million, with a net operating expense of 95 basis points, effective Nov. 30, 2012. The share class has no 12b-1 fees or sales charges.