Brandes - EMEA - Global Opportunities Value Strategy

Investment Strategies

Any Country, Any Size

  • Borderless Investing — A global approach that searches for individual companies around the world, including the U.S. and other developed markets, emerging markets and frontier countries.
  • Market-Capitalization Coverage — The flexibility to invest in any company that we believe is a solid long-term investment—regardless of size.

A “Go Anywhere” Value Discipline

  • Flexible and Independent — As markets cycle, we have the flexibility and independence to invest anywhere in the world we see value, including potentially overlooked off-index opportunities.
  • Multi-Cap and Global Value Investing Experience — The strategy’s investment team is comprised of professionals with an extensive experience across small- to large-cap companies and emerging markets.
  • Value Has Outperformed on a Global Level — Large-cap and small-cap value stocks (i.e., those with low price-to-book ratios) have outperformed their growth counterparts (i.e., those with higher price-to-book ratios) over the long term.1 

Partner with a Pioneer in Global Value Investing

  • Purpose-Built to Find Value — With firm roots in Graham & Dodd value principles since 1974, Brandes has maintained a bottom-up value focus for more than four decades.
  • Patience — Our long-term focus means we are willing to look beyond short-term market noise to seek undervalued opportunities.
  • Independent Point of View — Being a 100% employee-owned firm allows us to sharply focus on helping clients pursue their long-term financial goals—free of outside influences.

No investment strategy can assure a profit or protect against loss.

1Sources: Worldscope via FactSet, The Brandes Institute, as of 6/30/2016. Using data from 1980 to 2016, the study showed that over the long term, based on price/book deciles, a value premium was evident across both large and small cap stocks in our Global Sample. The Global sample consisted of publicly traded companies domiciled in the United States and non-U.S. developed markets (excluding the smallest 50% of companies). We grouped the largest 30% of the companies in our sample in a large-cap segment and assigned the remaining 70% to a small-cap segment. Stocks were first divided into 10 deciles based on price-to-book.  Aggregate performance of each decile was tracked over the next five years. This process was then repeated each year. Within the small-cap segment, decile 10 value stocks outperformed decile 1 glamour stocks by an average annualized rolling five-year return of 6.11%.  Within the large-cap segment, decile 10 value stocks outperformed decile 1 glamour stocks by an average annualized rolling five-year return of 4.47%. Past performance is not a guarantee of future results.

International and emerging markets investing is subject to certain risks such as currency fluctuation and social and political changes, differences in financial reporting standards and less stringent regulation of securities markets which may result in greater share price volatility.

This material is intended for informational purposes only. The information provided in this material should not be considered a recommendation to purchase or sell any particular security. It should not be assumed that any security transactions, holdings, or sectors discussed were or will be profitable, or that the investment recommendations or decisions we make in the future will be profitable or will equal the investment performance discussed herein. Portfolio holdings and allocations are subject to change at any time. Strategies discussed herein are subject to change at any time by the investment manager in its discretion due to market conditions or opportunities. Market conditions may impact performance...

 

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. The strategy benchmark is the MSCI ACWI.

Annualized Performance (Net)

THROUGH 30 June 2018 | REPORTING CURRENCY: eur
 
1 Year
2 Years
3 Years
4 Years
5 Years
Since Inception 31/3/2012
Global Opportunities
-1.30%
7.90%
4.53%
5.62%
9.71%
9.66%
Primary Benchmark (a)
8.21%
11.50%
6.55%
10.58%
11.81%
11.44%
Relative Performance
-9.51%
-3.60%
-2.02%
-4.96%
-2.10%
-1.78%

Annualized Performance (Gross)

THROUGH 30 June 2018 | REPORTING CURRENCY: eur
 
1 Year
2 Years
3 Years
4 Years
5 Years
Since Inception 31/3/2012
Global Opportunities
-0.47%
8.82%
5.43%
6.52%
10.64%
10.62%
Primary Benchmark (a)
8.21%
11.50%
6.55%
10.58%
11.81%
11.44%
Relative Performance
-8.68%
-2.68%
-1.12%
-4.06%
-1.17%
-0.82%

Annual Periods (Net)

THROUGH 30 June 2018 | REPORTING CURRENCY: eur
 
2017
2016
2015
2014
2013
Global Opportunities
1.96%
20.26%
6.82%
10.10%
20.27%
Primary Benchmark (a)
8.81%
10.98%
8.83%
18.59%
17.50%

Quarterly Performance (Net And Gross)

THROUGH 30 June 2018 | REPORTING CURRENCY: eur
Year
 
1Q
2Q
3Q
4Q
YTD
2018
NET
GROSS
Primary Benchmark (a)
00 -4.33%
00 -4.13%
00 -3.35%
-00 2.20%
-00 2.42%
-00 6.07%
-0000000
-0000000
-0000000
-0000000
-0000000
-0000000
00 -2.23%
00 -1.82%
-00 2.52%
2017
NET
GROSS
Primary Benchmark (a)
-00 4.35%
-00 4.58%
-00 5.48%
00 -3.21%
00 -3.00%
00 -2.27%
00 -0.02%
-00 0.19%
-00 1.60%
-00 0.96%
-00 1.18%
-00 3.89%
-00 1.96%
-00 2.83%
-00 8.81%
2016
NET
GROSS
Primary Benchmark (a)
-00 0.21%
-00 0.43%
00 -4.44%
-00 2.76%
-00 2.98%
-00 4.21%
-00 5.82%
-00 6.05%
-00 3.40%
-0 10.36%
-0 10.60%
-00 7.78%
-0 20.26%
-0 21.31%
-0 10.98%
2015
NET
GROSS
Primary Benchmark (a)
-0 16.27%
-0 16.52%
-0 15.27%
00 -3.58%
00 -3.37%
00 -3.37%
00 -9.09%
00 -8.89%
00 -9.51%
-00 4.81%
-00 5.04%
-00 7.97%
-00 6.82%
-00 7.76%
-00 8.83%
2014
NET
GROSS
Primary Benchmark (a)
-00 5.59%
-00 5.80%
-00 1.10%
-00 7.32%
-00 7.53%
-00 5.70%
00 -0.77%
00 -0.58%
-00 5.93%
00 -2.08%
00 -1.89%
-00 4.76%
-0 10.10%
-0 10.98%
-0 18.59%
2013
NET
GROSS
Primary Benchmark (a)
-00 8.29%
-00 8.53%
-00 9.35%
00 -1.48%
00 -1.26%
00 -1.73%
-00 8.36%
-00 8.60%
-00 3.75%
-00 4.04%
-00 4.25%
-00 5.40%
-0 20.27%
-0 21.32%
-0 17.50%
2012
NET
GROSS
Primary Benchmark (a)
-0000000
-0000000
-0000000
00 -3.78%
00 -3.53%
00 -0.90%
-00 5.67%
-00 5.94%
-00 5.39%
-00 3.23%
-00 3.49%
-00 0.39%
-00 4.95%
-00 5.77%
-00 4.85%

Composite Characteristics

THROUGH 30 June 2018 | REPORTING CURRENCY: eur
Year
#Accts
Assets
(mil)
Total Firm
Assets (mil)
2018
-000,00 3
-000, 306
-0 19,246
2017
-000,00 3
-000, 298
-0 21,278
2016
-000,00 3
-000, 203
-0 21,771
2015
-000,00 3
-000, 142
-0 19,036
2014
-000,00 2
-000, 123
-0 17,124
2013
-000,00 2
-000,0 76
-0 15,580
2012
-000,00 2
-000,0 19
-0 16,819
THROUGH 30 June 2018 | REPORTING CURRENCY: eur

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.
As of September 30, 2013, Brandes Investment Partners includes the non-SMA Division of Brandes Investment Partners L.P., Brandes Investment Partners (Europe) Limited, Brandes Investment Partners (Asia) Pte Ltd and the Brandes Investment Partners & Co. assets sub-advised by Brandes Investment Partners, L.P. The firm was redefined to reflect the expansion of the organization. As of January 1, 2006, Brandes Investment Partners was divided into two separate divisions: the SMA Division of Brandes Investment Partners, which acts as a discretionary manager to SMA or “wrap fee” program clients, including those who may invest in an SMA product; and the non-SMA Division of Brandes Investment Partners (Brandes), which acts as a discretionary manager for all other types of clients which may include pooled investment vehicles, institutional accounts and high net worth clients outside of wrap fee programs. Although the divisions may share portfolio management and other personnel, each division serves a particular target market, may trade in a different manner and may offer investment advice which differs from the other depending upon the individualized needs of the clients served. The performance data presented does not contain any SMA Division accounts.
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.
Brandes claims compliance with the Global Investment Performance Standards (GIPS®). To receive a list of composite descriptions and/or presentation that complies with GIPS standards, contact client service at 800-237-7119 or write 11988 El Camino Real, Suite 600, P.O. Box 919048, San Diego, California 92191-9048 or email ClientService@Brandes.com.
(a) The MSCI ACWI with net dividends captures large and mid cap representation of developed and emerging markets. MSCI has not approved, reviewed or produced this report, makes no express or implied warranties or representations and is not liable whatsoever for any data in the report. You may not redistribute the MSCI data or use it as a basis for other indices or investment products. The benchmark returns are not covered by the report of independent verifiers.
Brandes Investment Partners® is a registered trademark of Brandes Investment Partners, L.P. in the United States and Canada.

Non-U.S. dollar composite and benchmark returns shown with the following strategies were calculated and converted using the exchange rate fluctuations between the two currencies of the stated U.S. dollar returns: Asia Pacific (ex-Japan) Equity, Corporate Focus Fixed Income, Global Opportunities Value, Global Small Cap Equity, Global Small-Mid Cap Equity, International Equity, International Small Cap Equity, International Small-Mid Cap Equity, U.S. Small Cap Value Equity, U.S. Small-Mid Cap Value Equity. Non-U.S. dollar composite returns shown with the following strategies were calculated and converted using the exchange rate fluctuations between the two currencies of the stated U.S. dollar returns: Emerging Markets Equity, European Equity, Global Equity, Japan Equity, U.S. Value Equity.

The information and materials in this site are not intended to and shall not constitute an offer to buy or sell shares or provide advisory management services in any jurisdiction where such activity is unlawful and must not be treated as such. Access to and use of this web site is provided on the following Terms and Conditions. Brandes Investment Partners (Europe) Limited is regulated by the Central Bank of Ireland, its offices are located at 36 Lower Baggot Street, Dublin 2, Ireland and its registration number in Ireland is 510203.