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.
Yingbin Chen is a Director, Investments Group and a Senior Analyst on the Technology Research Team. She is a member of the Small-Cap Investment Committee and the All-Cap Investment Committee. Ms. Chen is a limited partner of the firm’s parent company. Before joining Brandes, she was a Technology Officer with a major U.S. money center bank and a Technology Consultant with a major U.S. technology company. Ms. Chen earned her International MBA with high honors from the University of Chicago Booth School of Business and her MS in electrical engineering from Johns Hopkins University. Her relevant experience began in 2001 when she joined Brandes Investment Partners.
Michael Hutchens is a Director, Investments Group and a Senior Analyst on the Financial Institutions Research Team. He is a member of the Small-Mid Cap Investment Committee and the All-Cap Investment Committee. Mr. Hutchens is a limited partner of the firm’s parent company. Before joining Brandes, he was a Bank examiner with the Federal Reserve System. Mr. Hutchens earned his MBA with a concentration in finance from Columbia Business School and his BS in business with a concentration in finance from Indiana University. His experience began in 1994 and he joined Brandes Investment Partners in 2001.
Ken Little oversees the firm’s research efforts and product investment committees. He is a member of the All-Cap Investment Committee and the Global Large-Cap Investment Committee. Additionally he is a member of the firm’s Executive Management Group, which oversees the firm’s day-to-day operations and long-term strategic direction, and a member of the ESG Steering Committee, which is responsible for guiding the firm’s long-term ESG strategy and initiatives. He is a limited partner of the firm’s parent company.
Before joining Brandes, Mr. Little was a Senior Accountant with KPMG. He holds a BS in accounting from the University of La Verne and an MBA from the Fuqua School of Business at Duke University. Mr. Little is a Certified Public Accountant (inactive). His investment experience began in 1996 when he joined Brandes Investment Partners.
Gerardo Zamorano is a Director, Investments Group and has analyst and team-leader responsibilities on the Telecommunications Research Team. He is a member of the Emerging Markets Investment Committee and the All-Cap Investment Committee. Mr. Zamorano is a limited partner of the firm’s parent company. Before joining the firm, he was an Assistant Investment Officer in the Latin American Department of the International Finance Corporation (part of the World Bank Group).
Mr. Zamorano earned his BSE (magna cum laude) from the Wharton School of Business of the University of Pennsylvania and MBA from the Kellogg Graduate School of Management of Northwestern University. His investment experience began in 1995 and he joined Brandes Investment Partners in 1999. Mr. Zamorano is fluent in Spanish and Portuguese.
Data displayed as of 30 Sep 2024
| Characteristic | Global Opportunities Value | MSCI ACWI Index |
|---|---|---|
|
Price/Book (x)
Price per share divided by book value per share.
|
1.1 | 3.2 |
|
Price/Earnings (x)
Price per share divided by earnings per share.
|
10.9 | 21.8 |
|
Price/Cash Flow (x)
Price per share divided by cash flow per share.
|
5.2 | 15.1 |
|
Dividend Yield %
Dividends per share divided by price per share.
|
3.4 | 1.8 |
|
Active Share %
A measure of the percentage of stock holdings in a manager’s portfolio that differs from the benchmark index.
|
96.0 | -- |
| Number of Holdings | 76 | -- |
| Weighted Average Mkt. Cap (€bil) | 50.7 | 553.5 |
|
Portfolio Turnover (TTM) %
(Trailing Twelve Months)
|
16.3 | -- |
| Company | % | Country | Industry |
|---|---|---|---|
| Embraer SA | 3.7 | Brazil | Aerospace & Defense |
| Nova Ljubljanska Banka dd | 2.9 | Slovenia | Banks |
| Alibaba Group Holding Ltd | 2.8 | China | Broadline Retail |
| Erste Group Bank AG | 2.5 | Austria | Banks |
| Banco Latinoamericano de Comercio Exterior SA | 2.5 | Panama | Financial Services |
| Magyar Telekom Telecommunications PLC | 2.2 | Hungary | Diversified Telecommunication Services |
| NETGEAR Inc | 2.1 | United States | Communications Equipment |
| SAP SE | 2.0 | Germany | Software |
| Samsung Electronics Co Ltd | 1.9 | South Korea | Technology Hardware, Storage & Peripherals |
| Linea Directa Aseguradora SA | 1.9 | Spain | Insurance |
| % of Portfolio | 24.5 | ||
| Portfolio holdings are subject to change at any time at the discretion of the investment manager. | |||
| Market Classification | Global Opportunities Value | MSCI ACWI Index |
|---|---|---|
| Developed Markets | 71.4 | 89.4 |
| Emerging Markets | 26.7 | 10.6 |
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.
The MSCI ACWI with net dividends captures large and mid cap representation of developed and emerging markets. The benchmark returns are not covered by the report of independent verifiers.
The MSCI ACWI Value Index captures large and mid cap securities across developed and emerging markets exhibiting value style characteristics, defined using book value to price, 12 month forward earnings to price and dividend yield.
The portfolio characteristics shown relate to a single account deemed by Brandes to be generally representative of the strategy as of date noted. Not every account will have these exact characteristics. The actual characteristics with respect to any particular account will vary based on a number of factors including but not limited to: (i) the size of t he account; (ii) investment restrictions applicable to the account, if any; and (iii) market exigencies at the time of investment. Data is updated on a quarterly basis.
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.
Market Capitalization, Price/Book, Price/Earnings, Price/Cash Flow, and Dividend Yield for each security provided by Bloomberg, L.P. Please note that Bloomberg does not provide negative numbers in the data feed. Index fundamentals are calculated from holdings data as provided by the relevant index or by FactSet Fundamentals, excluding negative numbers for consistency. Thus, index fundamentals calculated by Brandes may differ from those computed and published by index providers.
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