Cardinal Capital's Non-US Equity Composite Ranks in the Top One Percentile during the 1st Quarter of 2008
We are pleased to announce that Cardinal Capital Managementís non-US equity composite was ranked in the top one percentile by PSN for the quarter ending March 31, 2008. PSN is the largest separately managed account database available and contains data on over 2,000 investment management firms and more than 10,000 investment products. On a quarterly basis, all products are reviewed quantitatively and ranked against other managers in the same asset class. Cardinal Capitalís results were ranked against all other non-US equity managers within the PSN database that benchmark against the Europe, Australasia and Far East (ďEAFEĒ) stock index.
In addition to being ranked in the top one percentile for the first quarter of 2008, Cardinal Capitalís non-US equity composite also ranked in the top eight percent of these managers for the six months ending March 31, 2008. Since its inception in July 2007, the non-US equity composite ranks in the top 24% of all non-US equity managers.
Meanwhile, Cardinal Capitalís domestic US equity composites continue to return consistently strong relative and risk-adjusted performance. Attached is a PSN generated chart for the domestic equity portfolio composites that includes returns and relative rankings for eleven periods of time all ending March 31, 2008.
The equity composites returns for the eight year period are in the top two percent of all large capitalization core managers. The composite returns for the nine year period are in the top five percent of these mangers, and the returns for our equity composites for the ten year period is in the top 18 percent of all of these large capitalization core equity managers.
The returns for the two domestic US equity composites for the most recent quarter ending March 31, 2008 ranked within the top 11 percent of these managers funds.
We have attached for your review the actual PSN performance results and relative-ranking charts for both the non-US and domestic US equity composites. Cardinal Capital Management has been verified by our independent auditors at Ashland Partners & Company, LLP. Copies of the audit verification letters and Cardinal Capitalís disclosure accompany the PSN charts on pages three through nine of the attachment.