The Brandes Global Small Cap Equity Strategy seeks long-term capital appreciation by investing primarily in equity securities of U.S. and non-U.S. issuers with equity market capitalizations of $5 billion or less at the time of purchase.
Bryan Barrett is a Director, Investments Group and a Senior Analyst on the Industrials and Financial Institutions Research Teams. He covers companies in the global capital goods and commercial services industries, as well as global banks, insurance, holding companies and capital-market firms. Mr. Barrett is a member of the Small-Cap Investment Committee and Corporate Governance and Proxy Voting Committee. Additionally, he is an Advisory Board Member of The Brandes Center at the Rady School of Management, UC San Diego. He is a limited partner of the firm’s parent company.
Prior to his current role, Mr. Barrett was part of the firm’s Research Associate program. He earned a BA in philosophy (with honors) and a BA in economics from the University of Southern California. His relevant experience began in 2008, when he joined Brandes Investment Partners.
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.
Mark Costa is a Director, Investments Group and a Senior Analyst on the Industrials Team, covering aerospace and defense, industrial conglomerates and industrial machinery/engineering. He is a member of the Small- Cap Investment Committee, where he also serves as a Product Coordinator. Mr. Costa is a limited partner of the firm’s parent company. He holds a BS in finance with distinction from San Diego State University. Mr. Costa joined Brandes Investment Partners in 2000.
Luiz Sauerbronn is a Director, Investments Group, a Senior Analyst on the Industrials Research Team and a member of the International Large-Cap and Small-Cap Investment Committees. Additionally, he is a member of the ESG Oversight Committee and a limited partner of the firm’s parent company.
Before joining the firm, Mr. Sauerbronn was a Summer Associate with J.P. Morgan and Manager of the Mergers and Acquisitions Advisory Team of Brazil-based Banco Brascan (part of Brookfield Asset Management). He also worked with Royal Dutch Shell. Mr. Sauerbronn earned his BS in economics from the Federal University of Rio de Janeiro and his MBA from the Haas School of Business at the University of California, Berkeley. His relevant experience began in 1995 and he joined Brandes Investment Partners in 2001.
As of Sep 30, 2024 | Reporting Currency: USD
Data displayed as of Sep 30, 2024
| Characteristic | Global Small Cap Equity | MSCI ACWI Small Cap Index |
|---|---|---|
|
Price/Book (x)
Price per share divided by book value per share.
|
1.0 | 1.8 |
|
Price/Earnings (x)
Price per share divided by earnings per share.
|
9.9 | 23.5 |
|
Price/Cash Flow (x)
Price per share divided by cash flow per share.
|
5.6 | 11.5 |
|
Dividend Yield %
Dividends per share divided by price per share.
|
2.7 | 2.1 |
|
Active Share %
A measure of the percentage of stock holdings in a manager’s portfolio that differs from the benchmark index.
|
99.3 | -- |
| Number of Holdings | 73 | -- |
| Weighted Average Mkt. Cap ($bil) | 4.4 | 4.6 |
|
Portfolio Turnover (TTM) %
(Trailing Twelve Months)
|
46.0 | -- |
| Company | % | Country | Industry |
|---|---|---|---|
| Embraer SA | 5.0 | Brazil | Aerospace & Defense |
| NETGEAR Inc | 2.9 | United States | Communications Equipment |
| CAE Inc | 2.9 | Canada | Aerospace & Defense |
| Millicom International Cellular SA | 2.8 | Luxembourg | Wireless Telecommunication Services |
| C&C Group PLC | 2.7 | Ireland | Beverages |
| Rolls-Royce Holdings PLC | 2.7 | United Kingdom | Aerospace & Defense |
| Innovex International Inc | 2.5 | United States | Energy Equipment & Services |
| Grifols SA | 2.4 | Spain | Biotechnology |
| Nova Ljubljanska Banka dd | 2.4 | Slovenia | Banks |
| PAX Global Technology Ltd | 2.4 | Hong Kong | Electronic Equipment, Instruments & Components |
| % of Portfolio | 28.7 | ||
| Portfolio holdings are subject to change at any time at the discretion of the investment manager. | |||
| Market Classification | Global Small Cap Equity | MSCI ACWI Small Cap Index |
|---|---|---|
| Developed Markets | 82.3 | 85.4 |
| Emerging Markets | 16.7 | 14.6 |
The Brandes Global Small Cap Equity Composite seeks to achieve long-term capital appreciation by investing primarily in equity securities of U.S. and non-U.S. issuers with equity market capitalizations of $2.5 billion or less at the time of purchase. Generally, no more than 30% of the value of the composite’s total assets, measured at the time of purchase, may be invested in securities of companies located in emerging and frontier countries throughout the world. Small capitalization securities involve greater issuer risk than large capitalization securities, and the markets for such securities may be more volatile and less liquid.
The MSCI ACWI Small Cap Value Index captures small cap securities across developed and emerging markets countries exhibiting overall value style characteristics, defined using book value to price, 12-month forward earnings to price, and dividend yield.
Index inception: June 1, 2007. Data prior to the launch date is back-tested (i.e., calculations of how the index might have performed over that time period had the index existed). There are frequently material differences between back-tested performance and actual results.
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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