Building on over 25 years of international investing, our International Equity ADR Strategy seeks to invest in non-U.S. companies exhibiting above-average profitability and earnings growth trading at reasonable valuations. Exposure to these companies is gained through the purchase of American Depositary Receipts (ADRs) and U.S.-traded shares of foreign companies. As a result, our clients have the opportunity to invest in companies in developed and emerging markets without the operational burdens inherent to owning ordinary shares. Our objective is to outperform comparable international stock indices of a full market cycle. The Renaissance International Equity ADR Strategy is available as an institutional and retail separate account and through select SMA and UMA platforms.