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Causeway Capital Management Clarifies Akzo Nobel Position

LOS ANGELES--(BUSINESS WIRE)--

Causeway Capital Management LLC today communicated that it has amended its substantial holding notifications with the Netherlands Authority for the Financial Markets (AFM) regarding holdings of shares in Akzo Nobel NV. Most recently, in July 2016, Causeway had notified the AFM of both a substantial holding of voting rights and a substantial holding of a capital interest. Causeway has been advised, however, that because it acts as a discretionary investment manager on behalf of its institutional clients, Causeway does not have a reportable beneficial ownership interest in the shares in the portfolios managed for its institutional clients, except where it acts as the manager and sponsor of investment funds in which case the capital holding needs to be attributed to Causeway. Accordingly, Causeway has amended its substantial holding notifications with the AFM to reflect that, as of 19 July 2016, Causeway had voting rights to 12,622,992 shares in Akzo Nobel, or 5.02% of total outstanding shares, and did not have a capital interest that triggered reporting. Causeway indicated that the revised substantial capital interest reflects a technical correction.

About Causeway

Established in 2001, Los Angeles based Causeway provides international, global, and emerging markets equity investment management services to institutional clients including corporations, pension plans, sovereign wealth funds, superannuation funds, public retirement plans, Taft-Hartley pension plans, endowments and foundations, mutual funds and other collective investment vehicles, charities, private trusts and funds, wrap fee programs, and other institutions. Causeway's international and global value equity strategies use team based, value-driven investment disciplines that combine in-depth research and analysis, active portfolio construction, and proprietary risk management. Causeway also manages quantitative emerging markets and international small cap strategies and a global absolute return strategy.

The firm, wholly-owned by its employees, manages over $46.4 billion in total assets as of 28 February 2017. More information on Causeway's strategies and the firm's investment philosophy and team is available online at www.causewaycap.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 as well as increased volatility and lower trading volume. Investments in smaller companies involve additional risks and typically exhibit higher volatility.

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