INTERNATIONAL
EQUITY
INVESTMENT
PHILOSOPHY
PIA’s
approach to international investing is long- term and risk aware. We
believe an unhedged portfolio of companies with traditional value
characteristics and positive company-specific catalysts, concentrated in
countries that also exhibit strong value characteristics, will
consistently outperform the market.
Undervalued Stocks.
Equity research on international markets has demonstrated that stocks
with low valuation ratios produce superior returns over growth stocks.
Our value-oriented discipline determines both country allocation and stock
selection.
Risk
Aware.
Strict adherence to our core value philosophy, broad geographic and
industry diversification, and an emphasis on quality give the
portfolio attractive risk characteristics.
No Market Timing
.
Portfolios are fully invested. PIA will not utilize futures, other
derivatives, or hedge currencies.
Mutual fund investing involves risk; loss of principal is possible.
