Brandes - U.S. Individuals - Emerging Markets Equity Strategy

Investment Strategies

Be at the Forefront of Opportunity

  • Pioneer — Brandes has been navigating emerging markets for over 30 years and managing a standalone Emerging Markets strategy for over 20 years.
  • Value — The strategy consistently applies a disciplined investment process focused on uncovering emerging-market companies with potentially attractive value attributes.
  • Flexibility — The strategy is an all-capitalization mandate with the ability and willingness to be different than the benchmark.

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 Emerging Markets Equity Strategy seeks long-term capital appreciation by investing primarily in equity securities of emerging and frontier country issuers. 

The strategy benchmark is the MSCI Emerging Markets Index. 

In September 2016 the strategy benchmark changed from gross of withholding tax to net of withholding tax, effective back to the inception date of the strategy. For periods where the net dividend returns are not available gross benchmark returns are used and linked to the net benchmark returns. The change was made to better reflect our expectation for an investor’s actual experience.

GIPS® Report:

Annualized Performance (Net)

THROUGH June 30, 2022 | REPORTING CURRENCY: USD
 
1 Year
3 Years
5 Years
7 Years
10 Years
15 Years
20 Years
Emerging Markets Equity
-24.96%
-5.43%
-1.77%
1.18%
1.23%
1.24%
8.03%
Primary Benchmark (a)
-25.28%
0.57%
2.18%
2.79%
3.06%
2.00%
8.43%
Relative Performance
0.32%
-6.00%
-3.95%
-1.61%
-1.83%
-0.76%
-0.40%

Annualized Performance (Gross)

THROUGH June 30, 2022 | REPORTING CURRENCY: USD
 
1 Year
3 Years
5 Years
7 Years
10 Years
15 Years
20 Years
Emerging Markets Equity
-24.58%
-4.90%
-1.13%
1.88%
1.97%
2.05%
8.90%
Primary Benchmark (a)
-25.28%
0.57%
2.18%
2.79%
3.06%
2.00%
8.43%
Relative Performance
0.70%
-5.47%
-3.31%
-0.91%
-1.09%
0.05%
0.47%

Annual Periods (Net)

THROUGH June 30, 2022 | REPORTING CURRENCY: USD
 
2021
2020
2019
2018
2017
2016
2015
Emerging Markets Equity
6.59%
-4.01%
18.08%
-14.94%
27.72%
25.15%
-20.23%
Primary Benchmark (a)
-2.54%
18.31%
18.42%
-14.57%
37.28%
11.19%
-14.92%
 
2014
2013
2012
2011
2010
2009
2008
Emerging Markets Equity
-7.83%
6.76%
15.70%
-20.24%
18.22%
110.89%
-46.98%
Primary Benchmark (a)
-2.19%
-2.60%
18.22%
-18.42%
18.88%
78.51%
-53.33%
 
2007
2006
2005
2004
2003
2002
Emerging Markets Equity
18.67%
30.02%
21.66%
32.01%
68.56%
-19.17%
Primary Benchmark (a)
39.42%
32.14%
34.00%
25.55%
55.82%
-6.17%

Quarterly Performance (Net And Gross)

THROUGH June 30, 2022 | REPORTING CURRENCY: USD
Year
 
1Q
2Q
3Q
4Q
YTD
2022
NET
GROSS
Primary Benchmark (a)
0 -11.03%
0 -10.93%
00 -6.97%
0 -10.92%
0 -10.80%
0 -11.45%
-0000000
-0000000
-0000000
-0000000
-0000000
-0000000
0 -20.75%
0 -20.55%
0 -17.63%
2021
NET
GROSS
Primary Benchmark (a)
-00 3.98%
-00 4.12%
-00 2.29%
-00 8.25%
-00 8.39%
-00 5.05%
00 -4.79%
00 -4.66%
00 -8.09%
00 -0.54%
00 -0.43%
00 -1.31%
-00 6.59%
-00 7.13%
00 -2.54%
2020
NET
GROSS
Primary Benchmark (a)
0 -34.27%
0 -34.15%
0 -23.60%
-0 13.33%
-0 13.49%
-0 18.08%
-00 4.75%
-00 4.91%
-00 9.56%
-0 23.03%
-0 23.19%
-0 19.70%
00 -4.01%
00 -3.42%
-0 18.31%
2019
NET
GROSS
Primary Benchmark (a)
-00 8.56%
-00 8.76%
-00 9.92%
-00 4.30%
-00 4.49%
-00 0.61%
00 -4.82%
00 -4.64%
00 -4.25%
-00 9.57%
-00 9.73%
-0 11.84%
-0 18.08%
-0 18.92%
-0 18.42%
2018
NET
GROSS
Primary Benchmark (a)
00 -0.09%
-00 0.10%
-00 1.42%
00 -9.99%
00 -9.82%
00 -7.96%
00 -0.87%
00 -0.68%
00 -1.09%
00 -4.58%
00 -4.40%
00 -7.46%
0 -14.94%
0 -14.29%
0 -14.57%
2017
NET
GROSS
Primary Benchmark (a)
-0 10.72%
-0 10.94%
-0 11.44%
-00 2.71%
-00 2.91%
-00 6.27%
-00 9.62%
-00 9.84%
-00 7.89%
-00 2.45%
-00 2.64%
-00 7.44%
-0 27.72%
-0 28.71%
-0 37.28%
2016
NET
GROSS
Primary Benchmark (a)
-0 13.35%
-0 13.58%
-00 5.71%
-00 2.86%
-00 3.06%
-00 0.66%
-00 7.79%
-00 8.00%
-00 9.03%
00 -0.43%
00 -0.23%
00 -4.16%
-0 25.15%
-0 26.13%
-0 11.19%
2015
NET
GROSS
Primary Benchmark (a)
00 -5.23%
00 -5.05%
-00 2.24%
-00 0.91%
-00 1.11%
-00 0.69%
0 -19.07%
0 -18.91%
0 -17.90%
-00 3.06%
-00 3.26%
-00 0.66%
0 -20.23%
0 -19.61%
0 -14.92%
2014
NET
GROSS
Primary Benchmark (a)
00 -0.60%
00 -0.40%
00 -0.43%
-0 11.84%
-0 12.06%
-00 6.60%
00 -5.68%
00 -5.49%
00 -3.50%
0 -12.10%
0 -11.92%
00 -4.50%
00 -7.83%
00 -7.10%
00 -2.19%
2013
NET
GROSS
Primary Benchmark (a)
-00 3.05%
-00 3.27%
00 -1.62%
00 -8.12%
00 -7.92%
00 -8.08%
-00 9.51%
-00 9.75%
-00 5.77%
-00 2.97%
-00 3.19%
-00 1.83%
-00 6.76%
-00 7.69%
00 -2.60%
2012
NET
GROSS
Primary Benchmark (a)
-0 15.36%
-0 15.62%
-0 14.07%
00 -9.33%
00 -9.13%
00 -8.89%
-00 5.12%
-00 5.35%
-00 7.74%
-00 5.23%
-00 5.46%
-00 5.58%
-0 15.70%
-0 16.72%
-0 18.22%
2011
NET
GROSS
Primary Benchmark (a)
-00 3.04%
-00 3.28%
-00 2.05%
00 -1.57%
00 -1.33%
00 -1.15%
0 -24.80%
0 -24.63%
0 -22.56%
-00 4.58%
-00 4.81%
-00 4.42%
0 -20.24%
0 -19.50%
0 -18.42%
2010
NET
GROSS
Primary Benchmark (a)
-00 1.66%
-00 1.89%
-00 2.40%
00 -8.25%
00 -8.04%
00 -8.37%
-0 14.82%
-0 15.08%
-0 18.03%
-0 10.39%
-0 10.64%
-00 7.34%
-0 18.22%
-0 19.30%
-0 18.88%
2009
NET
GROSS
Primary Benchmark (a)
00 -1.47%
00 -1.23%
-00 0.95%
-0 42.71%
-0 43.04%
-0 34.73%
-0 33.44%
-0 33.74%
-0 20.91%
-0 12.39%
-0 12.65%
-00 8.55%
- 110.89%
- 112.85%
-0 78.51%
2008
NET
GROSS
Primary Benchmark (a)
00 -4.05%
00 -3.83%
0 -10.99%
00 -8.53%
00 -8.31%
00 -0.86%
0 -18.95%
0 -18.76%
0 -26.95%
0 -25.47%
0 -25.28%
0 -27.60%
0 -46.98%
0 -46.48%
0 -53.33%
2007
NET
GROSS
Primary Benchmark (a)
-00 4.00%
-00 4.25%
-00 2.26%
-0 18.16%
-0 18.43%
-0 14.98%
-00 2.08%
-00 2.31%
-0 14.42%
00 -5.40%
00 -5.18%
-00 3.63%
-0 18.67%
-0 19.77%
-0 39.42%
2006
NET
GROSS
Primary Benchmark (a)
-00 7.11%
-00 7.38%
-0 12.02%
00 -4.31%
00 -4.11%
00 -4.34%
-00 8.44%
-00 8.65%
-00 4.86%
-0 16.98%
-0 17.28%
-0 17.60%
-0 30.02%
-0 31.21%
-0 32.14%
2005
NET
GROSS
Primary Benchmark (a)
-00 0.71%
-00 0.93%
-00 1.80%
-00 4.47%
-00 4.72%
-00 4.12%
-00 8.79%
-00 9.13%
-0 17.95%
-00 6.29%
-00 6.62%
-00 7.18%
-0 21.66%
-0 22.96%
-0 34.00%
2004
NET
GROSS
Primary Benchmark (a)
-00 8.56%
-00 8.74%
-00 9.59%
00 -3.84%
00 -3.67%
00 -9.64%
-00 7.53%
-00 7.76%
-00 8.14%
-0 17.59%
-0 17.86%
-0 17.24%
-0 32.01%
-0 33.03%
-0 25.55%
2003
NET
GROSS
Primary Benchmark (a)
00 -4.55%
00 -4.47%
00 -6.00%
-0 29.70%
-0 29.81%
-0 23.29%
-0 15.66%
-0 15.78%
-0 14.15%
-0 17.71%
-0 17.94%
-0 17.78%
-0 68.56%
-0 69.32%
-0 55.82%
2002
NET
GROSS
Primary Benchmark (a)
-00 4.53%
-00 4.70%
-0 11.34%
0 -14.16%
0 -14.08%
00 -8.44%
0 -20.38%
0 -20.15%
0 -16.35%
-0 13.15%
-0 13.40%
-0 10.04%
0 -19.17%
0 -18.54%
00 -6.17%

Composite Characteristics

THROUGH June 30, 2022 | REPORTING CURRENCY: USD
Year
#Accts
Assets
(mil)
Dispersion
% of non-fee
paying assets
Total Firm
Assets (mil)
2022
-000, 115
-00 1,293
-000,
-000,
-0 17,343
2021
-000, 132
-00 2,146
-00 1.00
-00 1
-0 20,179
2020
-000, 156
-00 2,194
-00 0.80
-00 1
-0 18,595
2019
-000, 196
-00 2,526
-00 1.08
-00 1
-0 21,451
2018
-000, 238
-00 2,354
-00 0.98
-0 <1
-0 22,106
2017
-000, 318
-00 2,388
-00 0.57
-0 <1
-0 25,578
2016
-000, 324
-00 1,885
-00 0.61
-0 <1
-0 22,971
2015
-000, 338
-00 1,773
-00 0.67
-0 <1
-0 20,666
2014
-000, 400
-00 3,434
-00 1.01
-00 2
-0 20,722
2013
-000, 272
-00 2,787
-00 0.84
-00 3
-0 21,464
2012
-000, 252
-00 2,226
-00 1.99
-00 2
-0 22,171
2011
-000, 227
-00 1,538
-00 1.35
-00 3
-0 26,658
2010
-000, 182
-000, 970
-00 0.46
-00 5
-0 38,659
2009
-000, 179
-000, 987
-0 10.49
-00 5
-0 42,152
2008
-000, 177
-000, 581
-00 1.37
-0 12
-0 40,591
2007
-000, 215
-00 1,516
-00 1.22
-00 3
-0 83,242
2006
-000, 243
-00 1,282
-00 2.05
-00 3
-0 85,974
2005
-000, 230
-000, 965
-00 1.32
-00 3
- 101,874
2004
-000, 109
-000,0 98
-00 1.96
-0 14
-0 98,078
2003
-000,0 80
-000,0 54
-00 5.93
-0 14
-0 75,789
2002
-000,0 87
-000, 198
-00 3.42
-00 3
-0 51,808
THROUGH June 30, 2022 | REPORTING CURRENCY: USD

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 Emerging Markets Equity Composite seeks to achieve long-term capital appreciation by investing primarily in equity securities of emerging and frontier country issuers in those emerging market and frontier countries in which the firm believes the economies are developing strongly and the markets are becoming more sophisticated, regardless of market capitalization. The firm intends to invest the composite primarily in issuers located in emerging market countries within some or all of Asia, Europe, Central and South America, Africa, and the Middle East. Emerging markets securities pose greater liquidity risks and other risks than securities of companies located in developed countries and traded in more established markets.
 
(a) The MSCI Emerging Markets Index with net dividends captures large and mid cap representation of emerging market countries. Data prior to 2001 is gross dividend and linked to the net dividend returns. 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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