Brandes - EMEA - Global Opportunities Value Strategy

Investment Strategies

Any Country, Any Size

  • Go Anywhere — An all-capitalization mandate with the ability and willingness to invest anywhere we see value.
  • Pioneer — Brandes is a pioneer in value investing, having navigated global capital markets for over 40 years.
  • Value — The strategy consistently applies a disciplined investment process focused on uncovering companies worldwide with potentially attractive value attributes.

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.

No investment strategy can assure a profit or protect against loss.

1Sources: Worldscope via FactSet, The Brandes Institute, as of 6/30/2016. Using data from 1980 to 2016, the study showed that over the long term, based on price/book deciles, a value premium was evident across both large and small cap stocks in our Global Sample. The Global sample consisted of publicly traded companies domiciled in the United States and non-U.S. developed markets (excluding the smallest 50% of companies). We grouped the largest 30% of the companies in our sample in a large-cap segment and assigned the remaining 70% to a small-cap segment. Stocks were first divided into 10 deciles based on price-to-book.  Aggregate performance of each decile was tracked over the next five years. This process was then repeated each year. Within the small-cap segment, decile 10 value stocks outperformed decile 1 glamour stocks by an average annualized rolling five-year return of 6.11%.  Within the large-cap segment, decile 10 value stocks outperformed decile 1 glamour stocks by an average annualized rolling five-year return of 4.47%. Past performance is not a guarantee of future results.

International and emerging markets investing is subject to certain risks such as currency fluctuation and social and political changes, differences in financial reporting standards and less stringent regulation of securities markets which may result in greater share price volatility.

This material is intended for informational purposes only. The information provided in this material should not be considered a recommendation to purchase or sell any particular security. It should not be assumed that any security transactions, holdings, or sectors discussed were or will be profitable, or that the investment recommendations or decisions we make in the future will be profitable or will equal the investment performance discussed herein. Portfolio holdings and allocations are subject to change at any time. Strategies discussed herein are subject to change at any time by the investment manager in its discretion due to market conditions or opportunities. Market conditions may impact performance...

 

The Brandes Global Opportunities Value Strategy seeks long-term capital appreciation by investing primarily in the equity securities of both U.S. and non-U.S. issuers irrespective of equity market capitalizations. The strategy benchmark is the MSCI ACWI.

Annualized Performance (Net)

THROUGH 31 December 2018 | REPORTING CURRENCY: EUR
 
1 Year
2 Years
3 Years
4 Years
5 Years
Since Inception 31/3/2012
Global Opportunities
-13.43%
-6.05%
2.01%
3.19%
4.54%
6.96%
Primary Benchmark (a)
-4.93%
1.71%
4.71%
5.73%
8.18%
9.32%
Relative Performance
-8.50%
-7.76%
-2.70%
-2.54%
-3.64%
-2.36%

Annualized Performance (Gross)

THROUGH 31 December 2018 | REPORTING CURRENCY: EUR
 
1 Year
2 Years
3 Years
4 Years
5 Years
Since Inception 31/3/2012
Global Opportunities
-12.70%
-5.25%
2.88%
4.08%
5.42%
7.90%
Primary Benchmark (a)
-4.93%
1.71%
4.71%
5.73%
8.18%
9.32%
Relative Performance
-7.77%
-6.96%
-1.83%
-1.65%
-2.76%
-1.42%

Annual Periods (Net)

THROUGH 31 December 2018 | REPORTING CURRENCY: EUR
 
2018
2017
2016
2015
2014
2013
Global Opportunities
-13.43%
1.96%
20.26%
6.82%
10.10%
20.27%
Primary Benchmark (a)
-4.93%
8.81%
10.98%
8.83%
18.59%
17.50%

Quarterly Performance (Net And Gross)

THROUGH 31 December 2018 | REPORTING CURRENCY: EUR
Year
 
1Q
2Q
3Q
4Q
YTD
2018
NET
GROSS
Primary Benchmark (a)
00 -4.33%
00 -4.13%
00 -3.35%
-00 2.20%
-00 2.42%
-00 6.07%
00 -0.81%
00 -0.60%
-00 4.87%
0 -10.74%
0 -10.55%
0 -11.57%
0 -13.43%
0 -12.70%
00 -4.93%
2017
NET
GROSS
Primary Benchmark (a)
-00 4.35%
-00 4.58%
-00 5.48%
00 -3.21%
00 -3.00%
00 -2.27%
00 -0.02%
-00 0.19%
-00 1.60%
-00 0.96%
-00 1.18%
-00 3.89%
-00 1.96%
-00 2.83%
-00 8.81%
2016
NET
GROSS
Primary Benchmark (a)
-00 0.21%
-00 0.43%
00 -4.44%
-00 2.76%
-00 2.98%
-00 4.21%
-00 5.82%
-00 6.05%
-00 3.40%
-0 10.36%
-0 10.60%
-00 7.78%
-0 20.26%
-0 21.31%
-0 10.98%
2015
NET
GROSS
Primary Benchmark (a)
-0 16.27%
-0 16.52%
-0 15.27%
00 -3.58%
00 -3.37%
00 -3.37%
00 -9.09%
00 -8.89%
00 -9.51%
-00 4.81%
-00 5.04%
-00 7.97%
-00 6.82%
-00 7.76%
-00 8.83%
2014
NET
GROSS
Primary Benchmark (a)
-00 5.59%
-00 5.80%
-00 1.10%
-00 7.32%
-00 7.53%
-00 5.70%
00 -0.77%
00 -0.58%
-00 5.93%
00 -2.08%
00 -1.89%
-00 4.76%
-0 10.10%
-0 10.98%
-0 18.59%
2013
NET
GROSS
Primary Benchmark (a)
-00 8.29%
-00 8.53%
-00 9.35%
00 -1.48%
00 -1.26%
00 -1.73%
-00 8.36%
-00 8.60%
-00 3.75%
-00 4.04%
-00 4.25%
-00 5.40%
-0 20.27%
-0 21.32%
-0 17.50%
2012
NET
GROSS
Primary Benchmark (a)
-0000000
-0000000
-0000000
00 -3.78%
00 -3.53%
00 -0.90%
-00 5.67%
-00 5.94%
-00 5.39%
-00 3.23%
-00 3.49%
-00 0.39%
-00 4.95%
-00 5.77%
-00 4.85%

Composite Characteristics

THROUGH 31 December 2018 | REPORTING CURRENCY: EUR
Year
#Accts
Assets
(mil)
Total Firm
Assets (mil)
2018
-000,00 3
-000, 246
-0 17,103
2017
-000,00 3
-000, 298
-0 21,278
2016
-000,00 3
-000, 203
-0 21,771
2015
-000,00 3
-000, 142
-0 19,036
2014
-000,00 2
-000, 123
-0 17,124
2013
-000,00 2
-000,0 76
-0 15,580
2012
-000,00 2
-000,0 19
-0 16,819
THROUGH 31 December 2018 | REPORTING CURRENCY: EUR

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 Global Opportunities Composite seeks long-term capital appreciation by investing primarily in the equity securities of both U.S. and non-U.S. issuers irrespective of equity market capitalizations. The relevant index for diversification measurement is the MSCI ACWI. With respect to investments in emerging markets companies, the composite may typically invest up to the greater of either (a) 40% of total assets in emerging markets and frontier countries, at the time of purchase or (b) 200% of the weighting of non-developed markets companies in the relevant index, at the time of purchase. The portfolios will have the ability to hold up to 15% of total assets (at the time of purchase) in non-equity securities, including fixed income and convertible bonds, and up to 10% of total assets (at the time of purchase) in exchange traded funds, mutual funds or closed end funds, including other Brandes managed mutual funds or other pooled vehicles. The portfolios will generally be fully invested; however, the Global Opportunities portfolios may hold up to 20% of the assets in cash or cash equivalents.
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 MSCI ACWI with net dividends captures large and mid cap representation of developed and emerging markets. MSCI has not approved, reviewed or produced this report, makes no express or implied warranties or representations and is not liable whatsoever for any data in the report. You may not redistribute the MSCI data or use it as a basis for other indices or investment products. 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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Non-U.S. dollar composite and benchmark returns shown with the following strategies were calculated and converted using the exchange rate fluctuations between the two currencies of the stated U.S. dollar returns: Asia Pacific (ex-Japan) Equity, Corporate Focus Fixed Income, Global Opportunities Value, Global Small Cap Equity, Global Small-Mid Cap Equity, International Equity, International Small Cap Equity, International Small-Mid Cap Equity, U.S. Small Cap Value Equity, U.S. Small-Mid Cap Value Equity. Non-U.S. dollar composite returns shown with the following strategies were calculated and converted using the exchange rate fluctuations between the two currencies of the stated U.S. dollar returns: Emerging Markets Equity, European Equity, Global Equity, Japan Equity, U.S. Value Equity.

The information and materials in this site are not intended to and shall not constitute an offer to buy or sell shares or provide advisory management services in any jurisdiction where such activity is unlawful and must not be treated as such. Access to and use of this web site is provided on the following Terms and Conditions. Brandes Investment Partners (Europe) Limited is regulated by the Central Bank of Ireland, its offices are located at 36 Lower Baggot Street, Dublin 2, Ireland and its registration number in Ireland is 510203.

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