Yield. Valuation. Fundamentals.
Emerging Markets Value
Inception Date: June 30, 2010
|Annualized*||DRZ Gross of Fees||DRZ Net of Fees||MSCI EM|
|Year to Date||6.95%||6.24%||5.90%|
June 30, 2010 through December 31, 2018
|Year||Gross Return(%)||Net Return(%)||Index Return(%)||Composite 3-Year Annualized Standard Deviation||Index 3-Year Annualized Standard Deviation||Number of Portfolios||Composite Dispersion(%)||Total Composite Assets ($millions)||Percentage of Firm Assets|
DePrince, Race & Zollo, Inc. has presented this report in compliance with the Global Investment Performance Standards (GIPS®).
- DePrince, Race & Zollo Inc. (DRZ) is an independent investment management firm, founded in 1995, that manages equity portfolios primarily for U.S. institutional clients.
- DRZ claims compliance with the Global Investment Performance Standards (GIPS®) and has prepared and presented this report in compliance with the GIPS standards. DRZ has been independently verified for the periods March 31, 1995 through December 31, 2018 by The Spaulding Group. The verification report is available upon request. Verification assesses whether (1) the firm has
complied with all the composite construction requirements of the GIPS standards on a firm-wide basis and (2) the firm’s policies and procedures are designed to calculate and present performance in compliance with the GIPS standards. Verification does not ensure the accuracy of any specific composite presentation.
- Additional information regarding the firm’s policies for valuing portfolios, calculating performance, and preparing compliant presentations are available upon request.
- The composite invests in global stocks through ADRs and securities in emerging market countries that have a dividend yield greater than its respective country average yield and a market capitalization typically above $200 million.
- Past performance is not indicative of future results. The actual return and value of an account will fluctuate and at any point could be worth more or less than the amount invested. Individual account performance will vary according to individual client investment objectives.
- The benchmark is the MSCI Emerging Markets Index which is a free float-adjusted market capitalization index of companies in emerging markets.
- Total time-weighted rates of return are expressed in US dollars. Computations include the reinvestment of all dividends and capital gains. For investments in ADRs and foreign domiciled companies, dividends are included net of any withholding taxes.
- The composite was created in July 2010. DRZ’s list of composite descriptions is available upon request. This composite requires a minimum asset level of $1,000,000 (one million dollars) for inclusion.
- Net performance returns are calculated by deducting the highest investment advisory fee.
- DRZ’s standard fee schedule for Emerging Markets Value is 0.90% on all amounts.
- Internal dispersion is calculated using the equal-weighted standard deviation of annual gross returns of those portfolios that were included in the composite for the entire year; it is not presented for periods with 5 or fewer portfolios. The three-year annualized ex-post standard deviation measures the variability of the composite and the benchmark returns over the preceding 36 months period. The three-year ex-post standard deviation is not required for periods prior to 2011.