![Cable car hanging above a Brazilian city.](https://www.pzena.com/wp-content/uploads/2024/06/f-cary-snyder-76L0Hup2Zyo-unsplash-1024x682-900x600.jpg)
Brazilian Equities: Unveiling Under-valued Opportunities
![Highlighted Holding: WH Group](https://www.pzena.com/wp-content/uploads/2024/05/frances-gunn-QcBAZ7VREHQ-unsplash-flipped-e1716393280811-900x600.jpg)
Highlighted Holding: WH Group
![The Case for Global Small Cap](https://www.pzena.com/wp-content/uploads/2024/02/adolfo-felix-4JL_VAgxwcU-unsplash-1024x683-900x600.jpg)
The Case for Global Small Cap
![Medical image](https://www.pzena.com/wp-content/uploads/2024/01/medical-image-1024x683-900x600.jpg)
Highlighted Holding: Baxter International
![The Case for International Value](https://www.pzena.com/wp-content/uploads/2023/12/chuttersnap-Ay5VDmOaKBo-unsplash-1024x681-900x600.jpg)
The Case for International Value
![Global Banks — Where We Stand](https://www.pzena.com/wp-content/uploads/2023/12/07c07393-9ac2-46b3-bf45-271321b4c1fe-e1703870109835.jpg)
Global Banks — Where We Stand
![True Costs of ESG: Cobalt/EV Supply Chain Case Study](https://www.pzena.com/wp-content/uploads/2023/11/AdobeStock_306167948-scaled-e1700080914951-900x600.jpeg)
True Costs of ESG: Cobalt/EV Supply Chain Case Study
![Energy Transition](https://www.pzena.com/wp-content/uploads/2023/09/jason-blackeye-s1w1SguZTI-unsplash-1024x682-900x600.jpg)
Energy Transition
![A Value Allocation to EM](https://www.pzena.com/wp-content/uploads/2020/07/5_Thinking-Strategically-About-a-Value-Allocation-to-EM-1024x683-900x600.jpg)
Thinking Strategically About a Value Allocation to Emerging Markets
![Value Investing Reigns in Emerging Markets](https://www.pzena.com/wp-content/uploads/2021/05/Value-Investing-Reigns-in-Emerging-Markets.jpg)
Value Investing Reigns in Emerging Markets
![International Small Cap](https://www.pzena.com/wp-content/uploads/2023/06/City-view-1024x682-900x600.jpg)
International Small Cap
![Recession Fears and Equity Allocations](https://www.pzena.com/wp-content/uploads/2022/08/aditya-vyas-mHdATQY9fIU-unsplash-1024x683-900x600.jpg)
Recession Fears and Equity Allocations
![Markets Decline. Then They Rebound](https://www.pzena.com/wp-content/uploads/2022/06/AdobeStock_288287943-scaled-900x600.jpeg)
Markets Decline. Then They Rebound
![Value Stocks Can Continue To Lead](https://www.pzena.com/wp-content/uploads/2022/04/markos-mant-0nKRq0IknHw-unsplash-scaled-900x600.jpg)
Value Stocks Can Continue To Lead
![The Time is Now: International Small Cap Value](https://www.pzena.com/wp-content/uploads/2022/03/The-Time-is-Now_3.25-scaled-900x600.jpg)
The Time is Now: International Small Cap Value
![Investing Arithmetic](https://www.pzena.com/wp-content/uploads/2022/02/AdobeStock_376500083.jpeg)
Investing Arithmetic: Find the Price Skew That’s in Your Favor
![Opportunity in Emerging Markets After Drawdowns](https://www.pzena.com/wp-content/uploads/2022/01/opportunity-in-em-after-drawdowns-1x-900x600.png)
Opportunity in Emerging Markets After Drawdowns
![The Value Cycle is Underway](https://www.pzena.com/wp-content/uploads/2021/10/Value-Cycle-is-Underway-Website-Image.png)
The Value Cycle is Underway
![Long Term Facts](https://www.pzena.com/wp-content/uploads/2021/09/long-term-facts-cover-1.png)
Stay Focused on Long Term Facts
![Road to Normal](https://www.pzena.com/wp-content/uploads/2021/09/Road-to-Normal-Cover.png)
Road to Normal International Value
![Emerging Markets vs Developed Markets](https://www.pzena.com/wp-content/uploads/2021/09/javier-allegue-barros-C7B-ExXpOIE-unsplash-1024x683-900x600.jpg)
Time to Look for Value in the Emerging Markets?
![Recent Events Have Set up a Classic Value Opportunity](https://www.pzena.com/wp-content/uploads/2020/08/8_Recent-Events-Have-Set-up-a-Classic-Value-Opportunity-1024x683-900x600.jpg)
Recent Events Have Set up a Classic Value Opportunity
![the value cycle is intact](https://www.pzena.com/wp-content/uploads/2021/08/value-cycle-is-intact.jpg)
The Value Cycle is Intact
![What's Your Value?](https://www.pzena.com/wp-content/uploads/2021/06/Whats-Your-Value.jpg)
What’s Your Value?
![The Utility of ESG Scores](https://www.pzena.com/wp-content/uploads/2021/05/The-Utility-of-ESG-Scores.jpg)
The Utility of ESG Scores
![Feeling Underexposed? Value in Emerging Markets](https://www.pzena.com/wp-content/uploads/2021/05/Feeling-Underexposed-1024x683-900x600.jpg)
Feeling Underexposed? Value in Emerging Markets
![Earnings Growth and Momentum](https://www.pzena.com/wp-content/uploads/2021/04/Earnings-Growth-and-Momentum_Jets-1024x683-900x600.jpg)
Earnings Growth and Momentum
![Energy Investments in a Zero-Carbon World](https://www.pzena.com/wp-content/uploads/2021/03/Energy-Investments-in-a-Zero-Carbon-World-1024x683-900x600.jpg)
Energy Investments in a Zero-Carbon World
![The Beginning of the Value Cycle?](https://www.pzena.com/wp-content/uploads/2021/01/Beginning-of-the-Value-Cycle-1024x683-900x600.jpg)
The Beginning of the Value Cycle?
![Giving Credit: Emerging Markets Banks](https://www.pzena.com/wp-content/uploads/2020/12/EM-Banks-1024x683-900x600.jpg)
Giving Credit: Emerging Markets Banks
![Catalyst for Change: Disruption](https://www.pzena.com/wp-content/uploads/2020/12/Catalysts-for-Change_Disruption-1024x683-900x600.jpg)
Catalyst for Change: Disruption
![Catalyst for Change: Growth Expectations](https://www.pzena.com/wp-content/uploads/2020/11/Catalysts-for-Change_Growth-Expectations-900x600.jpg)
Catalyst for Change: Growth Expectations
![Catalyst for Change: Interest Rates](https://www.pzena.com/wp-content/uploads/2020/11/Catalysts-for-Change_Interest-Rates-1.jpg)
Catalyst for Change: Interest Rates
![Catalyst for Change: Recession](https://www.pzena.com/wp-content/uploads/2020/11/Catalysts-for-Change_Recession-900x600.jpg)
Catalyst for Change: Recession
![Catalysts for Change](https://www.pzena.com/wp-content/uploads/2020/10/Catalysts-for-Change_Summary-1024x683-900x600.jpg)
Catalysts For Change
![Questioning Conventional Wisdom on Risk and Return](https://www.pzena.com/wp-content/uploads/2020/08/Questioning-Conventional-Wisdom-on-Risk-and-Return.jpg)
Questioning Conventional Wisdom on Risk & Return
![Global Banks: Resilience in the Face of Crisis](https://www.pzena.com/wp-content/uploads/2020/07/1_Global-Banks-Resilience-in-the-Face-of-Crisis.jpg)
Global Banks: Resilience in the Face of Crisis
![Volatility Wide Spreads and Value Stock Returns](https://www.pzena.com/wp-content/uploads/2020/08/9_Volatility-Wide-Spreads-and-Value-Stock-Returns-1024x683-900x600.jpg)
Volatility, Wide Spreads, and Value Stock Returns
![Value Outperformance Following Extreme Volatility](https://www.pzena.com/wp-content/uploads/2020/07/3_Value-Tends-to-Outperform-Following-Periods-of-Exterme-Volatility-1024x683-900x600.jpg)
Value Outperformance Following Extreme Volatility
![Value is a Philosophy not a Factor](https://www.pzena.com/wp-content/uploads/2020/04/Value-is-a-Philosophy-not-a-Factor.jpg)
Value Is a Philosophy – Not a Factor
![Value Stocks Lead the Way](https://www.pzena.com/wp-content/uploads/2020/08/7_In-Initial-Stages-of-Recovery-Value-Stocks-Lead-the-Way.jpg)
Initial Stages of Recovery
![Bear Markets Recoveries and Value Stocks](https://www.pzena.com/wp-content/uploads/2020/08/6_Bear-Markets-Recoveries-and-Value-Stocks.jpg)