Brandes to Introduce NextShares Exchange-Traded Managed Funds

Brandes to Introduce NextShares Exchange-Traded Managed Funds


“We look forward to including NextShares in our product line as we strive to bring innovative and efficient product solutions to our clients,” said Oliver Murray, Managing Director of Portfolio Management and Client Services at Brandes.

MEDIA CONTACT
Ray Lewis
Brandes Investment Partners
ray.lewis@brandes.com 
858.523.3588


Brandes Investment Partners to Introduce NextShares™ Exchange-Traded Managed Funds

SAN DIEGO, August 14, 2017 — Brandes Investment Partners (Brandes) has entered into a preliminary agreement with NextShares Solutions LLC (NextShares Solutions), a wholly owned subsidiary of Eaton Vance Corp. (Eaton Vance), to support the launch by Brandes of NextShares™ exchange-traded managed funds.  

“We look forward to including NextShares in our product line as we strive to bring innovative and efficient product solutions to our clients,” said Oliver Murray, Managing Director of Portfolio Management and Client Services at Brandes. 

NextShares, an innovative way to invest in actively managed strategies, offer the potential for benchmark-beating returns by applying their manager’s proprietary investment research.  As exchange-traded products, NextShares may offer cost and tax efficiencies that can enhance shareholder returns. The first NextShares fund began trading on the Nasdaq Stock Market LLC in February 2016. Funds from multiple sponsors have since been introduced across a range of assets classes, with more launches expected in the coming months.  

“Brandes seeks to provide stability, consistency, outperformance and exceptional services to generations of clients,” said Stephen W. Clarke, president of NextShares Solutions. “For those reasons, Brandes will make a great partner in bringing the distribution of NextShares to investors.” 

About Brandes Investment Partners

Brandes is a leading investment advisory firm, managing global equity and fixed-income assets for clients worldwide. Since the firm's inception in 1974, Brandes has consistently applied the value investing approach, pioneered by Benjamin Graham, to security selection and was among the first investment firms to invest globally using a value approach. Headquartered in San Diego, Brandes and its related entities have offices in Milwaukee, Toronto, Dublin and Singapore. To learn more about Brandes, visit the website or follow on LinkedIn.  

About NextShares Solutions and Eaton Vance

NextShares Solutions is a wholly owned subsidiary of Eaton Vance, formed to develop and commercialize NextShares. Aspects of the operation of NextShares are protected intellectual property owned by NextShares Solutions.  For more information, visit nextshares.com.

Eaton Vance (NYSE: EV) is a leading global asset manager whose history dates to 1924. With offices in North America, Europe, Asia and Australia, Eaton Vance and its affiliates managed $395.3 billion as of June 30, 2017 offering individuals and institutions a broad array of investment strategies and wealth management solutions. For more information, visit eatonvance.com.

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The information contained herein is provided for informational purposes only, is not intended as investment or tax advice, and does not constitute a solicitation of an offer to buy or sell specific securities. 

Shares of NextShares funds are normally bought and sold in the secondary market through a broker, and may not be individually purchased or redeemed from the fund. In the secondary market, buyers and sellers transact with each other, rather than with the fund.  These transactions do not affect the fund or its investments.  When a NextShares fund does issue or redeem shares, the transactions are made through designated authorized participants and are normally in kind when practicable, meaning that the fund receives or delivers securities rather than cash.  By transacting in kind, a NextShares fund can lower its trading costs and enhance fund tax efficiency by avoiding forced sales of securities to meet redemptions.  As exchange-traded securities, NextShares can operate with low transfer agency expenses by utilizing the same highly efficient share processing system as used for exchange-listed stocks.  

Market trading prices of NextShares are linked to the fund’s next-computed net asset value (NAV) and will vary from NAV by a market-determined premium or discount, which may be zero.  Buyers and seller of NextShares will not know the value of their purchases and sales until after the fund’s NAV is determined at the end of the trading day.  Market trading prices may vary significantly from anticipated levels.  NextShares do not offer investors the opportunity to buy and sell intraday based on current (versus end-of-day) determinations of fund value. NextShares trade execution prices will fluctuate based on changes in NAV. Although limit orders may be used to control trading costs, they cannot be used to control or limit trade execution prices. As a new type of fund, NextShares have a limited operating history and may initially be available through a limited number of brokers.  There can be no guarantee that an active trading market for NextShares will develop or be maintained, or that their listing will continue unchanged. Buying and selling NextShares may require payment of brokerage commissions and expose transacting shareholders to other trading costs. Frequent trading may detract from realized investment returns. The return on a shareholder’s NextShares investment will be reduced if the shareholder sells shares at a greater discount or narrower premium to NAV than he or she acquired the shares.  NextShares funds issue and redeem shares only in specified creation unit quantities in transactions by or through authorized participants.  In such transactions, a fund issues and redeems shares in exchange for the basket of securities, other instruments and/or cash that the fund specifies each business day.  The basket is not intended to be representative of the fund’s current portfolio positions and may vary significantly from current positions.

NextShares™ is a trademark of NextShares Solutions LLC. All rights reserved.

The Brandes Funds are distributed by ALPS Distributors, Inc. Brandes Investment Partners, ALPS Distributors, and Eaton Vance are not affiliated.