Quantitative

International ADR Equity

Mutual Fund

GIM believes that a benchmark-agnostic portfolio of international American Depository Receipts (ADRs), constructed with a disciplined blend of proprietary multi-factor models and downside risk screens, may achieve long-term performance.

The competitive advantage of our International ADR strategy is derived from the following key attributes:

Quantitative discipline; fundamental insight
Models based on intuitive fundamentals that drive performance

Proprietary, diversified models for each country and sector
Unique models for buying and selling

Initial equal weighting vs. weighting by market cap
Minimizes single-stock risk; avoids bias toward expensive ADRs

Discipline emphasizes high quality and valuation
Potential for superior upside and downside capture

Summary Investment Guidelines

  • Universe: MSCI ACWI-ex US
  • Benchmark: MSCI EAFE
  • 70-120 holdings
  • Initial position maximum: 1%
  • Existing position maximum: 3% for any security
  • Sector: +/–5% vs. MSCI EAFE

Portfolio Managers

  • Vladimir de Vassal, CFA

    Portfolio Manager, Quantitative Equity
  • Paul T. Sullivan, CFA

    Portfolio Manager, Quantitative Equity
  • Alexander R. Atanasiu, CFA

    Portfolio Manager, Quantitative Equity
 
As of 9/30/2019 QTD YTD 1 YEAR 3 YEAR 5 YEAR 10 YEAR Since Inception Inception Date
Quantitative International ADR Equity (Gross) -0.9% 10.6% -3.7% 4.4% 2.1% 3.7% 6.9% 11/30/1988
Quantitative International ADR Equity (Net) -1.1% 10.0% -4.4% 3.6% 1.3% 2.8% 6.3%  
MSCI EAFE -1.1% 12.8% -1.3% 6.5% 3.3% 4.9% 4.5%  

Calendar Year Returns

  Glenmede Gross Glenmede Net MSCI EAFE Gross +/-
2018 -15.4% -16.0% -13.8% -1.6%
2017 23.5% 22.6% 25.0% -1.5%
2016 -1.3% -2.1% 1.0% -2.3%
2015 3.2% 2.5% -0.8% 4.0%
2014 -8.1% -9.1% -4.9% -3.2%
2013 20.7% 19.3% 22.8% -2.1%
2012 15.6% 14.3% 17.3% -1.8%
2011 -13.3% -14.3% -12.1% -1.1%
2010 7.8% 6.6% 7.8% 0.0%
2009 42.6% 41.0% 31.8% 10.8%
2008 -46.1% -46.7% -43.4% -2.7%
2007 7.6% 6.5% 11.2% -3.6%
2006 28.2% 26.8% 23.3% 1.9%
2005 14.2% 13.8% 13.5% 0.6%
2004 22.3% 21.1% 20.2% 2.0%
2003 35.7% 35.6% 38.6% -2.8%