A Pioneer in Global Value Investing

As we entered 2025, U.S. stocks continued their long-term performance dominance vs. international stocks. However, the dramatic outperformance of international stocks vs. U.S. stocks (MSCI EAFE vs. S&P 500) and value stocks vs. growth stocks (MSCI World Value vs. MSCI World Growth) in the first quarter of 2025 reminded us again that diversification can be an important component to guard against quick swings in market sentiment.

In response to the recent U.S. tariff changes, Brandes continues to prioritize fundamental analysis and long-term intrinsic value, placing greater emphasis on balance sheet strength and “margin of safety” amid economic uncertainty.

We are proud to share that Investor’s Business Daily’s Best Mutual Funds Awards 2025 recognized four Brandes funds for outperforming on the one-, three-, five-, and 10-year periods ending Dec. 31, 2024. In the Best International Stock Fund category: Brandes International Small Cap Equity A share, Brandes Global Equity I share and Brandes International Equity I share. In the Best U.S. Taxable Bond Funds category: Brandes Core Plus Fixed Income I share.