Causeway Capital Management LLC today announced the launch of Causeway Emerging Markets Fund (Institutional Class: CEMIX; Investor Class: CEMVX), an emerging-markets equity fund managed by Causeway's quantitative research team. The no-load, open-end Fund will combine quantitative analysis of individual securities, as well as top-down, macroeconomic factors, to invest primarily in markets represented in the MSCI Emerging Markets Index.

"We believe that emerging markets represent an important part of clients' asset allocations and we have created this quantitative strategy to exploit the inefficiencies in these regions," said Arjun Jayaraman, PhD, CFA, head of quantitative research for Causeway Capital Management and co-portfolio manager of the Fund with MacDuff Kuhnert, CFA, vice president of quantitative research.

Dr. Jayaraman joined Causeway in January 2006 and previously served as portfolio manager for quantitative strategies at PanAgora Asset Management and Putnam Investments. He earned his PhD from New York University's Stern School of Business and BA in Economics from Columbia University. Dr. Jayaraman is a CFA charterholder.

Mr. Kuhnert has served since 1996 with the investment team that established Causeway after working together at the Hotchkis and Wiley division of Merrill Lynch Investment Managers. He earned his BA in Chemistry from Dartmouth College and is a CFA charterholder.

"We are extremely careful and deliberate when it comes to launching new strategies," said Sarah Ketterer, chief executive officer for Causeway Capital Management LLC. "In fact, this is only the second mutual fund we've launched since our team began managing international equities in 1990. We responded to the structural changes in the non-US equity markets by developing a strategy to meet our clients' needs."

About Causeway Capital Management

Established in 2001, Los Angeles-based Causeway Capital Management LLC provides investment management services to corporate pension, public, Taft-Hartley, endowment, foundation, mutual fund and other institutional clients. In addition to its quantitative emerging markets strategy, Causeway uses team-based, value-driven investment strategies that combine in-depth research and analysis, active portfolio construction, and disciplined risk management to provide clients exposure to equity markets outside the United States. The firm, majority owned by its employees, managed approximately $18 billion in total assets as of December 31, 2006, including $5 billion in Causeway International Value Fund (Institutional Class: CIVIX; Investor Class: CIVVX). More information on Causeway's value equity investment philosophy and value team is available on the Web at www.causewayfunds.com.

Investing involves risk including loss of principal. In addition to the normal risks associated with investing, international investments may involve risk of capital loss from unfavorable fluctuation in currency values, from differences in generally accepted accounting principles or from economic or political instability in other nations. Emerging markets involve heightened risks related to the same factors, in addition to those associated with their relatively small size and lesser liquidity.

The MSCI Emerging Markets IndexSM is a free float-adjusted market capitalization index that is designed to measure equity market performance in the global emerging markets. As of June 2006 the MSCI Emerging Markets Index consisted of the following 25 emerging market country indices: Argentina, Brazil, Chile, China, Colombia, Czech Republic, Egypt, Hungary, India, Indonesia, Israel, Jordan, Korea, Malaysia, Mexico, Morocco, Pakistan, Peru, Philippines, Poland, Russia, South Africa, Taiwan, Thailand, and Turkey. The Index does not reflect the payment of transaction costs or fees and expenses associated with an investment in the Fund. It is not possible to invest directly in an index. There are special risks in foreign investing.

To determine if the Causeway International Value Fund or Causeway Emerging Markets Fund is an appropriate investment for you, carefully consider the Fund's investment objectives, risk factors, charges and expenses before investing. This and other information can be found in each Fund's prospectus, which may be obtained by calling 1-866-947-7000. Read it carefully before investing.

There is no guarantee that either Fund will meet its stated objective. The Funds are available to U.S. investors only. There is a 2% redemption fee on the original value of direct investments withdrawn within 90 days. This is to protect shareholders from short-term investors who can hurt performance for long-term shareholders. Many of the financial intermediaries through whom shareholders invest in the Funds also apply the Funds' redemption fees or other frequent trading restrictions.

Causeway International Value Fund and Causeway Emerging Markets Fund are distributed by SEI Investments Distribution Co. (SIDCO). SIDCO is not affiliated with Causeway Capital Management LLC. 

Edited by: Erin Kello


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