The Emerging Markets Equity Portfolio is closed to new investors effective November 30, 2005.
Since 1974, Brandes Investment Partners®has used the value approach in seeking to generate strong returnsin international markets. Our value approach to stock selection is a conservative strategy that requires an investor to have a three- to five-year outlook.
Our Emerging Markets Equity Portfolio applies a Graham & Dodd value approach to security selection. Generally, a security will be bought if it is trading below what we believe to be its estimated value. This conservative approach strives to provide investors with a margin of safety. We believe that proper analysis can uncover good values anywhere in the world, thereby expanding the number and scope of investment opportunities. Thus,while emerging markets may be characterized by volatile price movements, this volatility can create short-term mispricings – or opportunities for long-term, value investors. We believe that when prices fall below an estimate of a company’s underlying value, it creates an opportunity for purchase. Conversely, as prices rise toward these intrinsic values, holdings may be sold with the proceeds redeployed in other, undervalued stocks.
For a more complete description and discussion of the risks of international investing, consult Brandes' Form ADV, Part II.
NOTE: The minimum account size for approved managed account programs is $250,000 for wrap accounts and commission brokerage accounts. The Emerging Markets Equity Portfolio is available only if securities are held/traded through certain custodian/brokers. Please contact your Brandes representative for details.