Global Balanced

The Brandes Global Balanced Strategy seeks long-term capital appreciation and current income by investing primarily in a combination of equity securities and fixed income securities.

Overview

Why Global Balanced?

  • Flexibility: The strategy is designed for investors seeking long-term capital appreciation from a diversified portfolio with a potentially lower volatility than an all-equity portfolio.
  • Experience: Brandes has been navigating the global markets for over 40 years and the fixed-income investment landscape for over 20 years.
  • Focus: The strategy primarily invests in global equity securities, including those from emerging markets, but also includes an allocation to high quality debt issued by the U.S. Treasury and U.S. government agencies. It may also hold a position in the Brandes Separately Managed Account Reserve Trust (SMART).

Performance

As of Sep 30, 2022 | Reporting Currency: USD

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Source: Brandes, MSCI, Citigroup. 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 World Balanced Index. It is not possible to invest directly in an index. GIPS® Report available in Resources section below.

Portfolio

Data displayed as of Sep 30, 2022

Top 10 Holdings (%)

Company % Country Industry
UBS Group AG 3.1 Switzerland Capital Markets
Cardinal Health Inc 3.0 United States Health Care Providers & Services
Imperial Brands PLC 2.7 United Kingdom Tobacco
GSK PLC 2.5 United Kingdom Pharmaceuticals
TotalEnergies SE 2.4 France Oil, Gas & Consumable Fuels
Cigna Corp 2.4 United States Health Care Providers & Services
Sanofi 2.3 France Pharmaceuticals
Wells Fargo & Co 2.3 United States Banks
Engie SA 2.1 France Multi-Utilities
Merck & Co Inc 2.1 United States Pharmaceuticals
% of Portfolio 24.9    
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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Regional Allocation (%)

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Market Weightings (%)

Market Classification Global Balanced World Balanced Index
Developed Markets 92.6 100.0
Emerging Markets 6.1 -
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The Brandes Global Balanced Composite seeks to achieve long-term capital appreciation and current income by investing primarily in a combination of undervalued equity securities and fixed income securities of both U.S. and non-U.S. issuers. It primarily invests in equity securities whose equity market capitalization exceeds $1 billion, short to intermediate maturity bonds and cash equivalents. The composite will typically have between 40% and 75% of its total assets invested in equity securities, determined at time of purchase, depending on the firm’s ability to find individual companies meeting its investment criteria. Generally, no more than 30% of the composite total assets, measured at the time of purchase, may be invested in equity securities of companies located in emerging and frontier countries throughout the world.

SMARTBrandes Separately Managed Account Reserve Trust is a registered investment company offered by Brandes.

The World Balanced Index (rebalanced monthly) is composed of 70% MSCI World Index with net dividends and 30% U.S. Broad Investment Grade Corporate Bond Index. The MSCI World Index captures large and mid cap representation of developed markets. The U.S. Broad Investment Grade Corporate Bond Index tracks the performance of U.S. dollar denominated bonds issued in the U.S. investment grade bond market. Prior to April 1, 2015, the World Balanced index was composed of a 50 percent allocation to each benchmark in the blend. Brandes Investment Partners believes the rebalance of the benchmark’s allocation better represents the Global Balanced strategy’s asset allocation to equities and fixed income.

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.

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.

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