The Brandes Core Plus Fixed Income Fund seeks to maximize long-term total return, consisting of both current income and capital appreciation.
Timothy M. Doyle is a Fixed Income Portfolio Manager and Analyst primarily responsible for strategy development, portfolio management and trading. He is a member of the Fixed Income Investment Committee. Before joining Brandes, Mr. Doyle was Assistant Vice President and Portfolio Manager with Scudder Kemper Investments (which later became Deutsche Asset Management). He earned his MBA in finance and economics from Loyola University, and BS in finance from Marquette University. Mr. Doyle’s experience began in 1985 and he joined Brandes Investment Partners in 2000.
David J. Gilson is an Associate Portfolio Manager and Analyst for the Brandes Fixed Income Group. His responsibilities include corporate bond research, strategy development, portfolio management and trading. Mr. Gilson is a member of the Fixed Income Investment Committee. Prior to joining Brandes, he was President of VALUE Restoration (consulting to corporations in turnaround situations). Mr. Gilson earned his BBA from Baylor University. His experience began in 1988, and he joined Brandes Investment Partners in 2002.
Charles S. Gramling oversees all areas of the Brandes Fixed Income Group, including strategy development, portfolio management and trading. He is a member of the Fixed Income Investment Committee. Before joining Brandes, he was a Senior Vice President and Portfolio Manager with Scudder Kemper Investments (which later became Deutsche Asset Management). Mr. Gramling earned his BS in accounting from Marquette University. His experience began in 1993 and he joined Brandes Investment Partners in 1999.
| Expenses | Class I |
|---|---|
| Total Annual Fund Operating Expenses †
Expenses that you pay each year as a percentage of the value of your investment.
|
0.69% |
| Less: Fee Waiver and/or Expense Reimbursement | -0.38% |
| Net Expense Ratio | 0.31% |
Data displayed as of Sep 30, 2024
| Characteristic | Brandes Core Plus Fixed Income Fund | Aggregate Index |
|---|---|---|
|
Average Maturity (yrs)
This figure is computed by weighting the maturity of each security in the portfolio by the market value of the security, then averaging these weighted figures.
|
7.9 | 8.3 |
|
Average Yield to Maturity %
The rate of return anticipated on a bond if held until the maturity date. YTM is considered a long-term bond yield expressed as an annual rate.
|
4.3 | 4.2 |
|
Current Yield %
Annualized income from the investment (dividends, interest, etc.) divided by the current market price of the investment.
|
3.6 | 3.6 |
|
Average Coupon %
The annual rate, as a percentage of par that the issuer has agreed to pay the bondholder.
|
3.4 | 3.4 |
|
Average Duration (yrs)
Duration is a time measure of a bond's interest-rate sensitivity, based on the weighted average of the time periods over which a bond's cash flows accrue to the bondholder.
|
5.5 | 6.0 |
| Number of Holdings | 68 | -- |
|
SEC 30 Day Yield (subsidized) %
As of 11/30/2024 | SEC 30-Day Yield This calculation is based on a 30-day period ending on the last day of the month shown. It is computed by dividing the net investment income per share earned during the period by the maximum offering price per share on the last day of the period. The yield figure reflects the dividends and interest earned during the period, after the deduction of the fund’s expenses. A subsidized yield takes into consideration the expenses paid by the advisor.
|
4.42 | -- |
|
SEC 30 Day Yield (unsubsidized) %
As of 11/30/2024 | SEC 30-Day Yield This calculation is based on a 30-day period ending on the last day of the month shown. It is computed by dividing the net investment income per share earned during the period by the maximum offering price per share on the last day of the period. The yield figure reflects the dividends and interest earned during the period, after the deduction of the fund’s expenses. A subsidized yield takes into consideration the expenses paid by the advisor.
|
4.14 | -- |
| Issuer | % | Coupon | Maturity |
|---|---|---|---|
| Ford Motor Credit Co LLC | 1.9 | 3.375 | Nov 13, 2025 |
| Bank of America Corp | 1.8 | 4.450 | Mar 03, 2026 |
| Citigroup Inc | 1.7 | 4.400 | Jun 10, 2025 |
| Prime Security Services | 1.6 | 5.750 | Apr 15, 2026 |
| Netflix Inc | 1.6 | 4.375 | Nov 15, 2026 |
| USB Capital IX | 1.6 | 6.583 | Apr 15, 2049 |
| Charles Schwab Corp | 1.4 | 5.375 | Sep 01, 2170 |
| Range Resources Corp | 1.4 | 4.875 | May 15, 2025 |
| VMware LLC | 1.2 | 3.900 | May 15, 2025 |
| Goldman Sachs Group Inc | 1.2 | 3.800 | Nov 10, 2169 |
| % of Fund | 15.4 | ||
| Portfolio holdings are subject to change at any time at the discretion of the investment manager. | |||
| Type |
Record Date
Date on which a shareholder must officially own shares in order to be entitled to a dividend. After the date of record, the stock is said to be ex-dividend.
|
Ex-Date
Date on which a fund begins trading without the benefit of the dividend. Typically, a fund's price moves up by the dollar amount of the dividend as the ex-dividend date approaches, then falls by the amount of the dividend after that date.
|
Payable Date
Date on which a declared fund dividend or a bond interest payment is scheduled to be paid.
|
Amount |
|---|---|---|---|---|
|
Income Dividend
Payout to shareholders of interest, dividends, or other income received by the Fund, net of operating expenses. By law, all such income must be distributed to shareholders, who may choose to take the money in cash or reinvest it in more shares of the Fund.
|
Daily | Daily | Nov 29, 2024 | $0.028046 |
|
Short-Term Capital Gain
Profit or loss from the sale of a capital asset that was held for one year or less.
|
Dec 1, 2016 | Dec 2, 2016 | Dec 2, 2016 | $0.024480 |
|
Long-Term Capital Gain
Gain on the sale of a security where the holding period was more than 12 months and the profit was subject to the long-term capital gains tax.
|
Dec 3, 2015 | Dec 4, 2015 | Dec 4, 2015 | $0.007860 |
| Annual Fund Operating Expenses | Class I |
|---|---|
| Net Expense Ratio | 0.31% |
| Annual Management | 0.35% |
| Other Expenses | 0.33% |
| Acquired Fund Fees and Expenses | 0.01% |
| Service 12b-1 | None |
| Shareholder Servicing | None |
| Expenses that you pay each year as a percentage of the value of your investment. | |
† The Advisor has contractually agreed to limit the Management Fee of each share class of the Core Plus Fund to 0.30% pursuant to an Investment Advisory Fee Waiver Agreement in effect until July 15, 2026.
The Advisor has contractually agreed to limit the Core Plus Fund’s Class A, Class I and Class R6 annual operating expenses (exclusive of acquired fund fees and expenses, taxes, interest, brokerage commissions, expenses incurred in connection with any merger or reorganization or extraordinary expenses such as litigation), including repayment of previous waivers, to the following percentages of the Fund’s average daily net assets attributable to the specific classes through July 15, 2026: 0.50%, 0.30% and 0.30%, respectively (the “Expense Caps”). The Expense Caps may be terminated at any time by the Board of Trustees upon 60 days’ notice to the Advisor. The Advisor is permitted, with Board approval, to be reimbursed for fee reductions and/or expense payments made in the prior 36 months following the waiver or reimbursement with respect to any Class of the Fund. The Advisor may request reimbursement if the aggregate amount paid by the Fund toward operating expenses for the Class for such period (taking into account any reimbursement) does not exceed the lesser of the Expense Cap in effect at the time of waiver or at the time of reimbursement.