Brandes - EMEA - 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.

Annualized Performance (Net)

THROUGH 31 March 2022 | REPORTING CURRENCY: eur
 
1 Year
3 Years
5 Years
7 Years
10 Years
15 Years
20 Years
U.S. Small-Mid Cap Equity
11.25%
13.11%
6.75%
8.66%
14.48%
7.38%
5.07%
Primary Benchmark (a)
6.37%
14.31%
10.82%
9.53%
14.18%
10.36%
8.46%
Relative Performance
4.88%
-1.20%
-4.07%
-0.87%
0.30%
-2.98%
-3.39%

Annualized Performance (Gross)

THROUGH 31 March 2022 | REPORTING CURRENCY: eur
 
1 Year
3 Years
5 Years
7 Years
10 Years
15 Years
20 Years
U.S. Small-Mid Cap Equity
12.32%
14.19%
7.77%
9.71%
15.57%
8.37%
5.96%
Primary Benchmark (a)
6.37%
14.31%
10.82%
9.53%
14.18%
10.36%
8.46%
Relative Performance
5.95%
-0.12%
-3.05%
0.18%
1.39%
-1.99%
-2.50%

Annual Periods (Net)

THROUGH 31 March 2022 | REPORTING CURRENCY: eur
 
2021
2020
2019
2018
2017
2016
2015
U.S. Small-Mid Cap Equity
34.39%
4.90%
10.80%
-4.92%
-5.78%
34.24%
9.17%
Primary Benchmark (a)
26.96%
10.18%
30.47%
-5.55%
2.53%
20.99%
8.23%
 
2014
2013
2012
2011
2010
2009
2008
U.S. Small-Mid Cap Equity
28.62%
29.56%
30.56%
-3.43%
38.73%
71.39%
-56.28%
Primary Benchmark (a)
21.90%
30.89%
16.07%
0.75%
35.33%
31.10%
-34.02%
 
2007
2006
2005
2004
2003
2002
U.S. Small-Mid Cap Equity
-33.79%
6.49%
6.41%
7.20%
34.68%
-39.38%
Primary Benchmark (a)
-8.30%
4.23%
23.79%
9.74%
21.42%
-30.26%

Quarterly Performance (Net And Gross)

THROUGH 31 March 2022 | REPORTING CURRENCY: eur
Year
 
1Q
2Q
3Q
4Q
YTD
2022
NET
GROSS
Primary Benchmark (a)
00 -0.95%
00 -0.72%
00 -3.18%
-0000000
-0000000
-0000000
-0000000
-0000000
-0000000
-0000000
-0000000
-0000000
00 -0.95%
00 -0.72%
00 -3.18%
2021
NET
GROSS
Primary Benchmark (a)
-0 19.65%
-0 19.93%
-0 15.56%
-00 6.23%
-00 6.49%
-00 4.28%
-00 0.01%
-00 0.25%
00 -0.38%
-00 5.72%
-00 5.97%
-00 5.76%
-0 34.39%
-0 35.68%
-0 26.96%
2020
NET
GROSS
Primary Benchmark (a)
0 -21.13%
0 -20.94%
0 -28.52%
-0 13.38%
-0 13.65%
-0 24.24%
00 -0.34%
00 -0.10%
-00 1.46%
-0 17.71%
-0 17.99%
-0 22.28%
-00 4.90%
-00 5.91%
-0 10.18%
2019
NET
GROSS
Primary Benchmark (a)
-00 6.93%
-00 7.18%
-0 18.28%
00 -1.65%
00 -1.41%
-00 1.58%
-00 5.11%
-00 5.36%
-00 2.98%
-00 0.23%
-00 0.47%
-00 5.45%
-0 10.80%
-0 11.86%
-0 30.47%
2018
NET
GROSS
Primary Benchmark (a)
00 -4.56%
00 -4.33%
00 -2.64%
-00 6.36%
-00 6.62%
-0 11.53%
-00 2.51%
-00 2.76%
-00 5.29%
00 -8.63%
00 -8.41%
0 -17.38%
00 -4.92%
00 -4.00%
00 -5.55%
2017
NET
GROSS
Primary Benchmark (a)
-00 0.00%
-00 0.25%
-00 2.37%
00 -3.96%
00 -3.73%
00 -4.27%
00 -2.58%
00 -2.34%
-00 1.18%
-00 0.69%
-00 0.94%
-00 3.41%
00 -5.78%
00 -4.87%
-00 2.53%
2016
NET
GROSS
Primary Benchmark (a)
-00 0.37%
-00 0.62%
00 -4.29%
-00 8.39%
-00 8.66%
-00 6.88%
-00 6.14%
-00 6.40%
-00 4.64%
-0 16.25%
-0 16.53%
-0 13.03%
-0 34.24%
-0 35.56%
-0 20.99%
2015
NET
GROSS
Primary Benchmark (a)
-0 13.56%
-0 13.84%
-0 18.50%
00 -3.83%
00 -3.60%
00 -4.03%
00 -2.97%
00 -2.73%
0 -10.35%
-00 3.03%
-00 3.29%
-00 6.17%
-00 9.17%
-0 10.25%
-00 8.23%
2014
NET
GROSS
Primary Benchmark (a)
-00 2.53%
-00 2.75%
-00 2.32%
-00 6.47%
-00 6.70%
-00 4.22%
-00 4.89%
-00 5.11%
-00 2.63%
-0 12.34%
-0 12.58%
-0 11.39%
-0 28.62%
-0 29.73%
-0 21.90%
2013
NET
GROSS
Primary Benchmark (a)
-0 16.93%
-0 17.27%
-0 15.86%
-00 1.39%
-00 1.70%
-00 0.93%
-00 4.17%
-00 4.39%
-00 4.88%
-00 4.91%
-00 4.96%
-00 6.72%
-0 29.56%
-0 30.68%
-0 30.89%
2012
NET
GROSS
Primary Benchmark (a)
-0 14.28%
-0 14.57%
-0 10.14%
-00 1.45%
-00 1.71%
-00 0.59%
-00 8.23%
-00 8.50%
-00 4.14%
-00 4.05%
-00 4.31%
-00 0.60%
-0 30.56%
-0 31.87%
-0 16.07%
2011
NET
GROSS
Primary Benchmark (a)
-00 0.43%
-00 0.64%
-00 2.76%
00 -4.20%
00 -3.99%
00 -2.70%
0 -16.08%
0 -15.90%
0 -14.87%
-0 19.62%
-0 19.90%
-0 18.36%
00 -3.43%
00 -2.56%
-00 0.75%
2010
NET
GROSS
Primary Benchmark (a)
-0 21.55%
-0 21.81%
-0 15.74%
00 -5.13%
00 -4.92%
00 -0.87%
-00 2.95%
-00 3.17%
-00 1.24%
-0 16.85%
-0 17.11%
-0 16.51%
-0 38.73%
-0 39.93%
-0 35.33%
2009
NET
GROSS
Primary Benchmark (a)
00 -4.75%
00 -4.54%
00 -6.72%
-0 27.68%
-0 27.95%
-0 13.96%
-0 31.79%
-0 32.07%
-0 15.03%
-00 6.95%
-00 7.18%
-00 7.22%
-0 71.39%
-0 72.90%
-0 31.10%
2008
NET
GROSS
Primary Benchmark (a)
0 -17.61%
0 -17.42%
0 -16.16%
0 -14.94%
0 -14.75%
-00 1.50%
-00 8.49%
-00 8.73%
-00 4.63%
0 -42.49%
0 -42.36%
0 -25.89%
0 -56.28%
0 -55.87%
0 -34.02%
2007
NET
GROSS
Primary Benchmark (a)
-00 0.97%
-00 1.13%
-00 2.32%
-00 1.87%
-00 2.03%
-00 3.50%
0 -21.75%
0 -21.63%
00 -7.49%
0 -17.74%
0 -17.57%
00 -6.40%
0 -33.79%
0 -33.34%
00 -8.30%
2006
NET
GROSS
Primary Benchmark (a)
-00 1.39%
-00 1.55%
-00 8.60%
00 -5.64%
00 -5.47%
00 -9.35%
-00 3.43%
-00 3.60%
-00 1.43%
-00 7.62%
-00 7.78%
-00 4.37%
-00 6.49%
-00 7.19%
-00 4.23%
2005
NET
GROSS
Primary Benchmark (a)
00 -4.80%
00 -4.62%
-00 1.32%
-0 11.08%
-0 11.28%
-0 11.96%
-00 4.23%
-00 4.35%
-00 5.51%
00 -3.46%
00 -3.30%
-00 3.43%
-00 6.41%
-00 7.10%
-0 23.79%
2004
NET
GROSS
Primary Benchmark (a)
-00 7.07%
-00 7.24%
-00 8.17%
-00 6.39%
-00 6.56%
-00 1.38%
0 -12.18%
0 -12.05%
00 -4.45%
-00 7.16%
-00 7.34%
-00 4.73%
-00 7.20%
-00 7.88%
-00 9.74%
2003
NET
GROSS
Primary Benchmark (a)
0 -14.80%
0 -14.66%
00 -7.82%
-0 30.81%
-0 30.96%
-0 15.67%
-00 8.77%
-00 8.95%
-00 7.39%
-0 11.10%
-0 11.28%
-00 6.05%
-0 34.68%
-0 35.51%
-0 21.42%
2002
NET
GROSS
Primary Benchmark (a)
-00 8.26%
-00 8.53%
-00 5.99%
0 -23.26%
0 -23.18%
0 -19.69%
0 -34.29%
0 -34.19%
0 -18.25%
-0 11.02%
-0 11.08%
-00 0.23%
0 -39.38%
0 -39.04%
0 -30.26%

Composite Characteristics

THROUGH 31 March 2022 | REPORTING CURRENCY: eur
Year
#Accts
Assets
(mil)
Total Firm
Assets (mil)
2022
-000,00 1
-000,00 9
-0 17,422
2021
-000,00 1
-000,00 9
-0 17,744
2020
-000,00 1
-000,00 8
-0 15,221
2019
-000,00 1
-000,00 8
-0 19,123
2018
-000,00 1
-000,00 7
-0 19,300
2017
-000,00 1
-000,00 7
-0 21,278
2016
-000,00 2
-000,00 8
-0 21,771
2015
-000,00 2
-000,00 6
-0 19,036
2014
-000,00 4
-000,00 5
-0 17,124
2013
-000,00 4
-000,00 4
-0 15,580
2012
-000,00 3
-000,00 3
-0 16,819
2011
-000,00 3
-000,00 2
-0 20,538
2010
-000,00 4
-000,00 2
-0 28,820
2009
-000,00 6
-000,00 2
-0 29,422
2008
-000,0 10
-000,00 1
-0 29,041
2007
-000,0 11
-000,00 2
-0 57,058
2006
-000,0 18
-000, 441
-0 65,152
2005
-000,0 67
-000, 457
-0 86,042
2004
-000, 124
-000, 424
-0 72,340
2003
-000,0 18
-000, 329
-0 60,255
2002
-000,0 20
-000, 226
-0 49,360
THROUGH 31 March 2022 | 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.
 
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.
 
(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.

Documents

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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