Investment Approach

Tweedy, Browne International Value Fund II – Currency Unhedged

The fund’s investment process is driven by fundamental, bottom-up research on individual companies. The investment team seeks to appraise the worth of a company, its “intrinsic value” (aka “private market value”, “breakup value” or “liquidation value”), by determining its acquisition value or estimating the collateral value of its asset and/or cash flow.

Investments made by the Fund are focused for the most part in developed countries, with some exposure to emerging markets. The Fund is diversified by issuer, industry and country, and maintains investments in a minimum of five countries.