Brandes European Value Fund

Past performance is not indicative of future results. For more information on the risks associated with the sub-fund, please refer to the sections entitled Risk Factors in the prospectus. Full details regarding the Fund are set out in the key investor information document (the “KIID”), the prospectus, the articles of association and the latest financial reports published for the Fund (the “Fund Documents”). Before any subscription, it is recommended that you read carefully the Fund Documents.

The Fund documents may be obtained without cost by contacting the Administrator for the Fund, your Financial Representative, or at the offices of the paying agent or representative in each jurisdiction. Austria: Unicredit Bank Austria AG, Schottengasse 6-8, A1010 Vienna, Austria. France: Société Générale, 29 Boulevard Haussmann, 75009 Paris, France. Germany:GerFIS – German Fund Information Service UG (Haftungsbeschränkt), Zum Eichhagen 4, 21382 Brietlingen, Germany. Luxembourg: Société Générale Bank & Trust, 11 Avenue Emile Reuter, L-2420 Luxembourg. Spain: Allfunds Bank, S.A., Estafeta 6, la Moraleja, Complejo Plaza de la Fuente, Alcobendas, Madrid, Spain. Switzerland: Representative and Paying Agent: BNP Paribas Securities Services, Paris, succursale de Zurich, Selnaustrasse 16, CH-8002 Zurich, Switzerland. United Kingdom: Duff & Phelps, Ltd., 14^th Floor, The Shard, 32 London Bridge Street, London, England SE1 9SG.

The Fund is not offered or sold to “U.S. Persons” as defined in Regulation S of the U.S. Securities Act of 1933.

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The MSCI Europe Index with net dividends is an unmanaged, free float-adjusted market capitalization weighted index that is designed to measure equity market performance of the developed markets in Europe. The MSCI Europe Index consists of 16 developed market country indices. This index includes dividends and distributions net of withholding taxes, but does not reflect fees, brokerage commissions, or other expenses of investing.