Fund Evaluator:

Cambiar SMID Investor Overview

Cambiar SMID Investor (CAMMX) is an actively managed U.S. Equity Mid-Cap Blend fund. Cambiar Funds launched the fund in 2011.

The investment seeks long-term capital appreciation. The fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in common stocks of small- to mid-sized companies. The adviser considers small- and mid-sized companies to be those with market capitalizations not greater than either that of the largest company in the Russell 2500® Value Index.

About Cambiar SMID Investor (CAMMX)

There are 5 members of the management team with an average tenure of 7.65 years: Anna (Ania) Aldrich (2011), Joseph Chin (2019), Richard Carney (2026), Adam Ballantyne (2026), Brian Barish (2011). Management tenure is more important for actively managed funds than passive index funds.

The fund has 2 primary benchmarks: Russell 3000 TR USD index with a weighting of 100% and Russell 2500 Value TR USD index with a weighting of 100%. Cambiar SMID Investor has 41 securities in its portfolio. The top 10 holdings constitute 29.1% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.

Cambiar SMID Investor is part of the Equity global asset class and is within the U.S. Equity fund group. Cambiar SMID Investor has 5.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 93.3%. There is 5.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Cambiar SMID Investor has 1.8% of the portfolio in cash.

Assets Under Management

The fund has $30 million in total assets, which is below the $1 billion average for the Mid-Cap Blend category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.

CAMMX Performance and Fees

The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Cambiar SMID Investor expense ratio is high compared to funds in the Mid-Cap Blend category. Cambiar SMID Investor has an expense ratio of 0.95%, which is 3% lower than its category average, making the fund expense ratio grade a C. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.

High portfolio turnover can translate to higher expenses and lower aftertax returns. Cambiar SMID Investor has a portfolio turnover rate of 47%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 51% for the Mid-Cap Blend category.

Recently, in the month of June 2026, Cambiar SMID Investor returned 2.4%, which earned it a grade of F, as the Mid-Cap Blend category had an average return of 4.1%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.

Cambiar SMID Investor has a trailing yield of 1.15%, which is above the 0.47% category average. The fund normally distributes its income annually and its capital gains annually.

It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.

Cambiar SMID Investor Grades

Year to date, the fund has returned 16.9%, 1.6 percentage points better than the category, which translates into a grade of C. The fund has returned 19.0% over the past year (grade of D), 6.9% over the past three years (grade of F) and 4.5% per year over the past five years (grade of F) and 10.8% per year over the past 10 years (grade of C).

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