Timothy M. Doyle is a Fixed Income Portfolio Manager and Analyst primarily responsible for strategy development, portfolio management and trading. He is a member of the Fixed Income Investment Committee. Before joining Brandes, Mr. Doyle was Assistant Vice President and Portfolio Manager with Scudder Kemper Investments (which later became Deutsche Asset Management). He earned his MBA in finance and economics from Loyola University, and BS in finance from Marquette University. Mr. Doyle’s experience began in 1985 and he joined Brandes Investment Partners in 2000.
David J. Gilson is an Associate Portfolio Manager and Analyst for the Brandes Fixed Income Group. His responsibilities include corporate bond research, strategy development, portfolio management and trading. Mr. Gilson is a member of the Fixed Income Investment Committee. Prior to joining Brandes, he was President of VALUE Restoration (consulting to corporations in turnaround situations). Mr. Gilson earned his BBA from Baylor University. His experience began in 1988, and he joined Brandes Investment Partners in 2002.
Charles S. Gramling oversees all areas of the Brandes Fixed Income Group, including strategy development, portfolio management and trading. He is a member of the Fixed Income Investment Committee. Before joining Brandes, he was a Senior Vice President and Portfolio Manager with Scudder Kemper Investments (which later became Deutsche Asset Management). Mr. Gramling earned his BS in accounting from Marquette University. His experience began in 1993 and he joined Brandes Investment Partners in 1999.
Data displayed as of Sep 30, 2023
|Separately Managed Account Reserve Trust Fund||45.8|
|United States Treasury Note||14.2|
|Wells Fargo & Co||3.9|
|Meta Platforms Inc||2.0|
|T-Mobile US Inc||2.0|
|CVS Health Corp||1.7|
|% of Portfolio||76.3|
|Portfolio holdings are subject to change at any time at the discretion of the investment manager.|
The Brandes Enhanced Income Composite seeks to achieve current income and long-term capital appreciation by investing primarily in a combination of undervalued equity and fixed income securities of both U.S. and non-U.S. issuers. The composite primarily invests in United States government and agency debt, corporate debt obligations, and cash equivalents, plus equity securities of issuers whose market capitalization ranks in the top 250 companies worldwide. The typical proportion of equity to fixed income securities is expected to be 30% equity to 70% fixed income. The composite may invest in a mutual fund (Separately Managed Account Reserve Trust, or “SMART”) that is available only within the Brandes Income Strategies program. Generally SMART is predominantly invested in corporate debt, including non-dollar denominated and non-investment grade debt obligations, but may invest in other types of securities as well. The firm believes this fixed income composite to be aggressive with regard to certain risks, especially credit risk. Generally, no more than 10% of the value of the composite’s total assets, measured at the time of purchase, may be invested in securities of companies located in emerging and frontier countries throughout the world.
SMART: Brandes Separately Managed Account Reserve Trust is a registered investment company offered by Brandes.
Enhanced Income Index (rebalanced monthly): 70% Bloomberg U.S. Aggregate Bond Index, 30% S&P Developed $25 Billion Plus Index with net dividends. The Bloomberg U.S. Aggregate Bond Index is a broad based benchmark that measures the investment grade, U.S. dollar denominated, fixed rate taxable bond market. This index is a total return index which reflects the price changes and interest of each bond in the index. The S&P Developed $25 Billion Plus Index measures equity market performance of the developed markets throughout the world that have market capitalizations greater than $25 billion (USD). The benchmark returns are not covered by the report of independent verifiers.
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.
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