True Value Global Pioneers

Founded by the Charles Brandes in 1974, Brandes is synonymous with experienced Graham & Dodd investing on a global scale.

Preeminent Asset Management Firm

Founded in 1848, Lazard’s global footprint includes over 300 investment professionals in key locales the world over.

Selective, Active Stock Pickers

Founded by Kim Shannon, Sionna are Canadian market experts, famously focussed on downside protection.

3 Managers through 1 Representative, providing priority, bundled service, with the backing of the experienced, responsive Bridgehouse Team…

Brandes Global Equity (ADR)

Seeks long-term capital appreciation by investing in undervalued stocks of both U.S. and non-U.S. issuers whose market cap generally exceeds $5B (USD) at time of purchase.

SMA Fact Sheet

Brandes U.S. Value Equity

Seeks long-term capital appreciation by investing in undervalued stocks of U.S. issuers whose market cap generally exceeds $1B (USD) at time of purchase.

SMA Fact Sheet

Brandes Emerging Markets Value Equity (ADR)

Seeks long-term capital appreciation by investing in undervalued stocks of emerging market companies whose market cap generally exceeds $1B (USD) at time of purchase.

SMA Fact Sheet

Brandes International Equity (ADR)

Seeks long-term capital appreciation by investing in undervalued stocks of non-U.S. issuers whose market cap generally exceeds $5B (USD) at time of purchase.

SMA Fact Sheet

Lazard Global Equity Select ADR

Seeks to generate strong relative returns over a long-term time horizon by investing in companies across the market cap spectrum with strong and/or improving financial productivity at attractive valuations. Typically invests in 60-80 US-listed companies from both developed & EM countries.

SMA Fact Sheet

Lazard International Equity Select ADR

Seeks to generate strong relative returns over a full market cycle by investing in companies with strong and/or improving financial productivity at attractive valuations. Typically invests in 40-60 US-listed securities of non-US developed-market companies with a market capitalization generally of $5 billion or greater. The benchmark is the MSCI EAFE Index.

SMA Fact Sheet

Lazard International Equity Select with Emerging Markets ADR

Seeks to generate strong relative returns over a full market cycle by investing in companies with strong and/or improving financial productivity at attractive valuations. Typically invests in 40-70 securities of non-US companies, including those from emerging markets, with a market capitalization generally of $5 billion or greater. The benchmark is the MSCI ACWI ex-US Index.

SMA Fact Sheet

Lazard International Equity Select with Emerging Markets (EAFE) ADR

Seeks to generate strong relative returns over a full market cycle by investing in companies with strong and/or improving financial productivity at attractive valuations. The strategy typically invests in 40–70 securities of non-US companies, including those from emerging markets, with a market capitalization generally of $5 billion or greater. The benchmark is the MSCI EAFE Index.

SMA Fact Sheet

Lazard Emerging Markets Equity Select ADR

Seeks to generate strong relative returns over a long-term time horizon by investing in companies with strong financial productivity at attractive valuations. The strategy typically invests in 35–45 securities of companies domiciled in countries included in the MSCI Emerging Markets Index with over $3 billion in market cap.

SMA Fact Sheet

Lazard Global Compounders

Seeks to generate strong relative returns over a full market cycle by investing solely in what Lazard calls “Compounders”, the world’s leading companies that can generate, and sustain, the highest levels of financial productivity (i.e., return on equity, return on capital, and cashflow return on investment). In this strategy, Lazard focuses mainly on identifying high quality companies able to reinvest a significant portion of their cash flows back into their business at similarly attractive rates of return. The strategy invests in global securities, including those from emerging markets.

SMA Fact Sheet

Lazard International Compounders

Seeks to generate strong relative returns over a full market cycle by investing solely in what Lazard calls “Compounders”, the world’s leading companies that can generate, and sustain, the highest levels of financial productivity (i.e., return on equity, return on capital, and cashflow return on investment). In this strategy, Lazard focuses mainly on identifying Compounders able to reinvest a significant portion of their cash flows back into their business at similarly attractive rates of return. The strategy invests in non-US securities, including those from emerging markets.

SMA Fact Sheet

Lazard US Equity Select

Seeks to outperform the S&P 500 Index with less volatility (standard deviation) over a full market cycle by investing in companies that compound earnings and capital and by taking advantage of valuation anomalies. Typically invests in 35–55 companies with market capitalizations generally over $5 billion.

SMA Fact Sheet

Lazard Global Sustainable Equity ADR

Seeks to invest in companies that avoid negative externalities that damage the world’s human and natural capital, and whose financial productivity may improve as a result of the move to a greener, healthier, safer, and fairer world. The strategy utilizes two types of potential alpha sources, which Lazard seeks to buy at attractive valuations. The first type, “Compounders”, are companies that Lazard believes can can generate, and sustain, the highest levels of financial productivity (i.e., return on equity, return on capital, and cashflow return on investment). The second type are “Improvers”, which are companies that Lazard believes can improve their financial productivity. The strategy invests in global securities, including those from emerging markets.

SMA Fact Sheet

Sionna Canadian Large Cap

Seeks to provide exposure to larger cap companies in the Canadian market that meet Sionna’s valuation and fundamental quality characteristics. The portfolio concentrates its ownership between 30-45 holdings.

SMA Fact Sheet

Sionna All Cap

Seeks to provide exposure to Canadian companies across the capitalization range that meet Sionna’s valuation and fundamental quality characteristics. The portfolio concentrates its ownership to 30-40 holdings.

SMA Fact Sheet

Sionna Focused Canadian Dividend

Seeks to provide exposure to equities that Sionna believes have strong and sustainable yields, and that meet Sionna’s valuation and fundamental quality characteristics. The portfolio concentrates its ownership between 15-30 holdings.

SMA Fact Sheet

Sionna High Conviction

Seeks to provide exposure to Canadian and Global companies across the capitalization range that meet Sionna’s valuation and fundamental quality characteristics without reference to sector weights. A concentrated portfolio of 15-30 holdings.

SMA Fact Sheet

Sionna Canadian Balanced

Seeks to generate long-term total returns and offer downside protection through a combination of capital growth and interest income. The strategy provides exposure to Sionna’s large cap equity mandate and a concentrated portfolio of Canadian fixed-income securities issued by federal, provincial and municipal governments.

SMA Fact Sheet