Brandes - U.S. Institutions - U.S. Small-Mid Cap Value Equity Strategy

Investment Strategies

In the Middle and Positioned for Opportunity

  • Value — The strategy consistently applies a disciplined investment process focused on uncovering potentially attractive value opportunities within the vast U.S. small-mid cap space.
  • Pioneer — Brandes has been investing in small-mid companies for over 40 years, and managing a dedicated U.S. Small-Mid Cap Strategy for nearly 20 years.
  • Flexibility — The strategy has the ability and willingness to be different than the benchmark, with the freedom to invest wherever we can find the most value while avoiding overpriced areas.

Partner with a Pioneer in Global Value Investing

  • Experienced Professionals — The Investment Committee is composed of experienced professionals who have managed extreme market cycles.
  • Commitment to Transparent, Easy to Understand Investment Process — The firm consistently applies a Graham-and-Dodd, value investing approach centered on a research-driven process of purchasing potentially undervalued companies with the goal of capturing future price appreciation.
  • Independent Point of View — Brandes Investment Partners is a 100% employee owned firm and its strategies are unhindered by sales quotas or any outside influence that may impede the firm’s pursuit of investment management excellence.

The Brandes U.S. Small-Mid Cap Value Equity Strategy seeks long-term capital appreciation by investing primarily in the equity securities of U.S. issuers with equity market capitalizations greater than $1.5 billion but no greater than $7.5 billion at the time of purchase.

The strategy primary benchmark is the Russell 2500 Index.

GIPS® Compliant Presentation:

Annualized Performance (Net)

THROUGH June 30, 2019 | REPORTING CURRENCY: USD
 
1 Year
3 Years
5 Years
7 Years
10 Years
15 Years
20 Years
U.S. Small-Mid Cap Equity
-4.07%
6.20%
6.21%
12.79%
16.50%
4.68%
6.06%
Primary Benchmark (a)
1.77%
12.34%
7.66%
12.51%
14.44%
9.07%
8.92%
Relative Performance
-5.84%
-6.14%
-1.45%
0.28%
2.06%
-4.39%
-2.86%

Annualized Performance (Gross)

THROUGH June 30, 2019 | REPORTING CURRENCY: USD
 
1 Year
3 Years
5 Years
7 Years
10 Years
15 Years
20 Years
U.S. Small-Mid Cap Equity
-3.15%
7.22%
7.23%
13.85%
17.58%
5.59%
6.96%
Primary Benchmark (a)
1.77%
12.34%
7.66%
12.51%
14.44%
9.07%
8.92%
Relative Performance
-4.92%
-5.12%
-0.43%
1.34%
3.14%
-3.48%
-1.96%

Annual Periods (Net)

THROUGH June 30, 2019 | REPORTING CURRENCY: USD
 
2018
2017
2016
2015
2014
2013
2012
U.S. Small-Mid Cap Equity
-9.40%
7.35%
30.47%
-2.06%
12.97%
35.40%
32.59%
Primary Benchmark (a)
-10.00%
16.81%
17.59%
-2.90%
7.07%
36.80%
17.88%
 
2011
2010
2009
2008
2007
2006
2005
U.S. Small-Mid Cap Equity
-6.55%
29.89%
75.68%
-58.11%
-26.80%
18.69%
-7.08%
Primary Benchmark (a)
-2.51%
26.71%
34.38%
-36.79%
1.38%
16.17%
8.11%
 
2004
2003
2002
2001
2000
1999
U.S. Small-Mid Cap Equity
15.56%
61.39%
-28.55%
23.91%
25.72%
-1.52%
Primary Benchmark (a)
18.29%
45.51%
-17.80%
1.22%
4.27%
24.14%

Quarterly Performance (Net And Gross)

THROUGH June 30, 2019 | REPORTING CURRENCY: USD
Year
 
1Q
2Q
3Q
4Q
YTD
2019
NET
GROSS
Primary Benchmark (a)
-00 4.71%
-00 4.96%
-0 15.82%
00 -0.30%
00 -0.07%
-00 2.96%
-0000000
-0000000
-0000000
-0000000
-0000000
-0000000
-00 4.39%
-00 4.89%
-0 19.25%
2018
NET
GROSS
Primary Benchmark (a)
00 -2.21%
00 -1.97%
00 -0.24%
-00 0.81%
-00 1.05%
-00 5.71%
-00 1.93%
-00 2.18%
-00 4.70%
00 -9.85%
00 -9.63%
0 -18.49%
00 -9.40%
00 -8.53%
0 -10.00%
2017
NET
GROSS
Primary Benchmark (a)
-00 1.36%
-00 1.60%
-00 3.76%
-00 2.47%
-00 2.72%
-00 2.13%
-00 0.85%
-00 1.10%
-00 4.74%
-00 2.48%
-00 2.72%
-00 5.24%
-00 7.35%
-00 8.38%
-0 16.81%
2016
NET
GROSS
Primary Benchmark (a)
-00 5.28%
-00 5.54%
-00 0.39%
-00 5.04%
-00 5.30%
-00 3.57%
-00 8.09%
-00 8.36%
-00 6.56%
-00 9.14%
-00 9.40%
-00 6.12%
-0 30.47%
-0 31.75%
-0 17.59%
2015
NET
GROSS
Primary Benchmark (a)
-00 0.79%
-00 1.03%
-00 5.17%
00 -0.14%
-00 0.11%
00 -0.34%
00 -2.91%
00 -2.67%
0 -10.30%
-00 0.23%
-00 0.47%
-00 3.28%
00 -2.06%
00 -1.09%
00 -2.90%
2014
NET
GROSS
Primary Benchmark (a)
-00 2.51%
-00 2.73%
-00 2.30%
-00 5.80%
-00 6.03%
-00 3.57%
00 -3.27%
00 -3.06%
00 -5.35%
-00 7.68%
-00 7.91%
-00 6.77%
-0 12.97%
-0 13.95%
-00 7.07%
2013
NET
GROSS
Primary Benchmark (a)
-0 13.89%
-0 14.22%
-0 12.85%
-00 2.74%
-00 3.06%
-00 2.27%
-00 8.34%
-00 8.57%
-00 9.08%
-00 6.82%
-00 6.87%
-00 8.66%
-0 35.40%
-0 36.58%
-0 36.80%
2012
NET
GROSS
Primary Benchmark (a)
-0 17.23%
-0 17.52%
-0 12.99%
00 -3.32%
00 -3.08%
00 -4.14%
-00 9.71%
-00 9.99%
-00 5.57%
-00 6.63%
-00 6.89%
-00 3.10%
-0 32.59%
-0 33.92%
-0 17.88%
2011
NET
GROSS
Primary Benchmark (a)
-00 6.23%
-00 6.46%
-00 8.70%
00 -2.12%
00 -1.91%
00 -0.59%
0 -22.35%
0 -22.18%
0 -21.22%
-0 15.74%
-0 16.01%
-0 14.52%
00 -6.55%
00 -5.72%
00 -2.51%
2010
NET
GROSS
Primary Benchmark (a)
-0 14.69%
-0 14.94%
-00 9.21%
0 -13.84%
0 -13.65%
00 -9.98%
-0 14.11%
-0 14.36%
-0 12.21%
-0 15.20%
-0 15.45%
-0 14.86%
-0 29.89%
-0 31.02%
-0 26.71%
2009
NET
GROSS
Primary Benchmark (a)
00 -9.56%
00 -9.36%
0 -11.43%
-0 34.75%
-0 35.04%
-0 20.27%
-0 37.54%
-0 37.84%
-0 20.06%
-00 4.82%
-00 5.04%
-00 5.08%
-0 75.68%
-0 77.22%
-0 34.38%
2008
NET
GROSS
Primary Benchmark (a)
0 -10.93%
0 -10.72%
00 -9.37%
0 -15.04%
0 -14.84%
-00 1.39%
00 -3.28%
00 -3.06%
00 -6.72%
0 -42.77%
0 -42.64%
0 -26.25%
0 -58.11%
0 -57.72%
0 -36.79%
2007
NET
GROSS
Primary Benchmark (a)
-00 2.18%
-00 2.35%
-00 3.55%
-00 3.29%
-00 3.46%
-00 4.95%
0 -17.53%
0 -17.40%
00 -2.50%
0 -15.91%
0 -15.73%
00 -4.32%
0 -26.80%
0 -26.30%
-00 1.38%
2006
NET
GROSS
Primary Benchmark (a)
-00 3.76%
-00 3.93%
-0 11.14%
00 -0.43%
00 -0.26%
00 -4.34%
-00 2.49%
-00 2.67%
-00 0.52%
-0 12.08%
-0 12.25%
-00 8.70%
-0 18.69%
-0 19.47%
-0 16.17%
2005
NET
GROSS
Primary Benchmark (a)
00 -8.99%
00 -8.82%
00 -3.14%
-00 3.70%
-00 3.89%
-00 4.52%
-00 3.62%
-00 3.74%
-00 4.89%
00 -4.98%
00 -4.82%
-00 1.81%
00 -7.08%
00 -6.47%
-00 8.11%
2004
NET
GROSS
Primary Benchmark (a)
-00 4.80%
-00 4.97%
-00 5.88%
-00 5.30%
-00 5.46%
-00 0.34%
0 -10.40%
0 -10.27%
00 -2.52%
-0 16.88%
-0 17.07%
-0 14.22%
-0 15.56%
-0 16.29%
-0 18.29%
2003
NET
GROSS
Primary Benchmark (a)
0 -11.35%
0 -11.20%
00 -4.09%
-0 37.86%
-0 38.03%
-0 21.91%
-0 10.15%
-0 10.34%
-00 8.75%
-0 19.89%
-0 20.08%
-0 14.43%
-0 61.39%
-0 62.39%
-0 45.51%
2002
NET
GROSS
Primary Benchmark (a)
-00 5.97%
-00 6.23%
-00 3.74%
0 -12.69%
0 -12.60%
00 -8.63%
0 -34.62%
0 -34.52%
0 -18.67%
-0 18.12%
-0 18.19%
-00 6.64%
0 -28.55%
0 -28.14%
0 -17.80%
2001
NET
GROSS
Primary Benchmark (a)
-00 6.65%
-00 6.90%
00 -8.67%
-00 8.26%
-00 8.50%
-0 13.70%
00 -7.46%
00 -7.25%
0 -18.80%
-0 15.96%
-0 16.41%
-0 20.05%
-0 23.91%
-0 25.24%
-00 1.22%
2000
NET
GROSS
Primary Benchmark (a)
00 -8.17%
00 -7.92%
-0 10.10%
-00 3.37%
-00 3.62%
00 -4.00%
-0 14.76%
-0 15.01%
-00 2.40%
-0 15.41%
-0 15.66%
00 -3.66%
-0 25.72%
-0 26.91%
-00 4.27%
1999
NET
GROSS
Primary Benchmark (a)
00 -0.90%
00 -0.65%
00 -4.74%
-0 20.74%
-0 20.99%
-0 16.40%
0 -13.33%
0 -13.08%
00 -6.45%
00 -5.03%
00 -4.79%
-0 19.67%
00 -1.52%
00 -0.52%
-0 24.14%

Composite Characteristics

THROUGH June 30, 2019 | REPORTING CURRENCY: USD
Year
#Accts
Assets
(mil)
Dispersion
% of non-fee
paying assets
Total Firm
Assets (mil)
2019
-000,00 1
-000,00 8
-000,
-000,
-0 23,157
2018
-000,00 1
-000,00 8
-00, N/A
- 100
-0 22,106
2017
-000,00 1
-000,00 9
-00, N/A
- 100
-0 25,578
2016
-000,00 2
-000,00 8
-00, N/A
-0 98
-0 22,971
2015
-000,00 2
-000,00 6
-00, N/A
-0 98
-0 20,666
2014
-000,00 4
-000,00 7
-00, N/A
-0 93
-0 20,722
2013
-000,00 4
-000,00 6
-00, N/A
-0 92
-0 21,464
2012
-000,00 3
-000,00 4
-00, N/A
-0 94
-0 22,171
2011
-000,00 3
-000,00 3
-00, N/A
-0 94
-0 26,658
2010
-000,00 4
-000,00 3
-00, N/A
-0 91
-0 38,659
2009
-000,00 6
-000,00 3
-00, N/A
-0 85
-0 42,152
2008
-000,0 10
-000,00 2
-00 0.66
-0 79
-0 40,591
2007
-000,0 11
-000,00 4
-00 0.43
-0 75
-0 83,242
2006
-000,0 18
-000, 582
-00 1.91
-0 <1
-0 85,974
2005
-000,0 67
-000, 541
-00 0.95
-0 <1
- 101,874
2004
-000, 124
-000, 575
-00 0.75
-0 <1
-0 98,078
2003
-000,0 18
-000, 414
-00 0.72
-0 <1
-0 75,789
2002
-000,0 20
-000, 237
-00, N/A
-0 <1
-0 51,808
2001
-000,00 1
-000,00 2
-00, N/A
- 100
-0 61,996
2000
-000,00 1
-000,00 2
-00, N/A
- 100
-0 50,852
1999
-000,00 1
-000,00 1
-00, N/A
- 100
-0 41,538
THROUGH June 30, 2019 | REPORTING CURRENCY: USD

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 U.S. Small-Mid Cap Equity Composite seeks to achieve long-term capital appreciation by investing primarily in equity securities of U.S. issuers with equity market capitalizations greater than $1.5 billion, but no greater than $7.5 billion, at the time of purchase. Small and mid-capitalization securities involve greater issuer risk than large capitalization securities, and the markets for such securities may be more volatile and less liquid.
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 Russell 2500 with gross dividends measures the performance of the small to mid cap segment of the U.S. equity universe. 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.

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