Global Opportunities Value

The Brandes Global Opportunities Value Strategy seeks long-term capital appreciation by investing primarily in the equity securities of both U.S. and non-U.S. issuers irrespective of equity market capitalizations.

Overview

Why Global Opportunities Value?

  • Value: The strategy employs our disciplined, bottom-up investing approach to seek companies worldwide trading below our estimates of intrinsic value.
  • Experience: Brandes has been navigating various global market conditions for over 40 years.
  • Flexibility: The strategy invests wherever we see value, regardless of market capitalization, country of domicile, sector or industry. 

Performance

As of 30 Jun 2022 | Reporting Currency: USD

Swipe to View Quarter End
Source: Brandes, MSCI. Total return – net and gross of management fees. Periods of greater than one year have been annualized. Past performance is not a guarantee of future results. The strategy primary benchmark is the MSCI ACWI Index. It is not possible to invest directly in an index. GIPS® Report available in Resources section below.

Portfolio

Data displayed as of 30 Jun 2022

Characteristics

Characteristic Global Opportunities Value MSCI ACWI Index
Price/Book (x)
Price per share divided by book value per share.
0.8 2.5
Price/Earnings (x)
Price per share divided by earnings per share.
8.5 16.3
Price/Cash Flow (x)
Price per share divided by cash flow per share.
3.8 11.2
Dividend Yield %
Dividends per share divided by price per share.
5.0 2.3
Active Share %
A measure of the percentage of stock holdings in a manager’s portfolio that differs from the benchmark index.
96.3 --
Number of Holdings 78 --
Weighted Average Mkt. Cap ($bil) 41.2 292.2
Portfolio Turnover (TTM) %
(Trailing Twelve Months)
24.9 --
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Top 10 Holdings (%)

Company % Country Industry
Alibaba Group Holding Ltd 2.8 China Internet & Direct Marketing Retail
Embraer SA 2.5 Brazil Aerospace & Defense
Fibra Uno Administracion SA de CV 2.5 Mexico Equity Real Estate Investment Trusts (REITs)
Cigna Corp 2.4 United States Health Care Providers & Services
Mitie Group PLC 2.3 United Kingdom Commercial Services & Supplies
UBS Group AG 2.3 Switzerland Capital Markets
BP PLC 2.1 United Kingdom Oil, Gas & Consumable Fuels
GSK PLC 2.0 United Kingdom Pharmaceuticals
NETGEAR Inc 2.0 United States Communications Equipment
Imperial Brands PLC 1.9 United Kingdom Tobacco
% of Portfolio 22.8    
Portfolio holdings are subject to change at any time at the discretion of the investment manager.
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Top 10 Country Allocation (%)

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Sector Allocation (%)

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Regional Allocation (%)

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Market Weightings (%)

Market Classification Global Opportunities Value MSCI ACWI Index
Developed Markets 69.2 88.3
Emerging Markets 28.7 11.7
Swipe to View Market Weightings (%)

The Brandes Global Opportunities Composite seeks long-term capital appreciation by investing primarily in the equity securities of both U.S. and non-U.S. issuers irrespective of equity market capitalizations. The relevant index for diversification measurement is the MSCI ACWI. With respect to investments in emerging markets companies, the composite may typically invest up to the greater of either (a) 40% of total assets in emerging markets and frontier countries, at the time of purchase or (b) 200% of the weighting of non-developed markets companies in the relevant index, at the time of purchase. The portfolios will have the ability to hold up to 15% of total assets (at the time of purchase) in non-equity securities, including fixed income and convertible bonds, and up to 10% of total assets (at the time of purchase) in exchange traded funds, mutual funds or closed end funds, including other Brandes managed mutual funds or other pooled vehicles. The portfolios will generally be fully invested; however, the Global Opportunities portfolios may hold up to 20% of the assets in cash or cash equivalents.

The MSCI ACWI with net dividends captures large and mid cap representation of developed and emerging markets. The benchmark returns are not covered by the report of independent verifiers.

The MSCI ACWI Value Index captures large and mid cap securities across developed and emerging markets exhibiting value style characteristics, defined using book value to price, 12 month forward earnings to price and dividend yield.

The MSCI information may only be used for your internal use, may not be reproduced or redisseminated in any form and may not be used as a basis for or a component of any financial instruments or products or indices. None of the MSCI information is intended to constitute investment advice or a recommendation to make (or retrain from making) any kind of investment decision and may not be relied on as such. Historical data and analysis should not be taken as an indication or guarantee of any future performance analysis, forecast or prediction. The MSCI information is provided on an “as is” basis and the user of this information assumes the entire risk or any uses made of this information. MSCI, each of its affiliates and each other person involved in or related to compiling, computing or creating any MSCI information (collectively, the “MSCI Parties”) expressly disclaims all warranties (including without limitations, any warranties of originality, accuracy, completeness, timeliness, non-infringement, merchantability and fitness for a particular purpose) with respect to this information. Without limiting any of the foregoing, in no event shall any MSCI Party have any liability for any direct, indirect, special, incidental, punitive, consequential (including, without limitation, lost profits) or any other damages (www.msci.com)

The portfolio characteristics shown relate to a single account deemed by Brandes to be generally representative of the strategy as of date noted. Not every account will have these exact characteristics. The actual characteristics with respect to any particular account will vary based on a number of factors including but not limited to: (i) the size of t he account; (ii) investment restrictions applicable to the account, if any; and (iii) market exigencies at the time of investment. Data is updated on a quarterly basis.

The results for individual accounts and for different periods may vary. Investors should not rely on prior performance results as a reliable indication of future results. Market conditions may impact performance. The performance results presented were achieved in particular market conditions which may not be repeated. Moreover, the current market volatility and uncertain regulatory environment may have a negative impact on future performance.

Market Capitalization, Price/Book, Price/Earnings, Price/Cash Flow, and Dividend Yield for each security provided by Bloomberg, L.P. Please note that Bloomberg does not provide negative numbers in the data feed. Index fundamentals are calculated from holdings data as provided by the relevant index or by FactSet Fundamentals, excluding negative numbers for consistency. Thus, index fundamentals calculated by Brandes may differ from those computed and published by index providers.

Brandes Investment Partners® is a registered trademark of Brandes Investment Partners, L.P. in the United States and Canada. This website may also contain trademarks of other companies.