Brandes - U.S. Individuals - Global Balanced Strategy

Investment Strategies

Consider More Upside with Potentially Less Downside

  • Flexibility — Designed for investors seeking long-term capital appreciation, plus income, from a diversified managed portfolio that may have potentially lower volatility than an all equity portfolio.
  • Focus — Primarily invests in global equity securities, including emerging markets, and high quality debt issued by the U.S. Treasury and U.S. government agencies. May also hold a position in the Brandes Separately Manged Account Reserve Trust (SMART).

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.

**SMART: Brandes Separately Managed Account Reserve Trust is a registered investment company offered by Brandes.

The Brandes Global Balanced Strategy seeks long-term capital appreciation and current income by investing primarily in a combination of undervalued equity securities and fixed income securities of both U.S. and non-U.S. issuers. It primarily invests in equity securities of issuers whose equity market capitalization exceeds $1 billion, short- to intermediate-maturity bonds, and cash equivalents. The strategy will typically have between 40% and 75% of its total assets invested in equity securities (determined at the time of purchase), depending upon Brandes’ ability to find individual companies meeting its investment criteria.

The World Balanced Index is composed of 70% MSCI World Index with net dividends and 30% FTSE US Broad Investment Grade Bond Index. The MSCI World Index captures large and mid cap representation of developed markets. The FTSE US Broad Investment Grade Bond Index tracks the performance of U.S. dollar-denominated bonds issued in the U.S. investment-grade bond market. Prior to April 1, 2015, the World Balanced index was composed of a 50 percent allocation to each benchmark in the blend. Brandes Investment Partners believes the rebalance of the benchmark’s allocation better represents the Global Balanced strategy’s asset allocation to equities and fixed income.



GIPS® Compliant Presentation:

Annualized Performance (Net)

THROUGH September 30, 2019 | REPORTING CURRENCY: USD
 
1 Year
3 Years
5 Years
7 Years
10 Years
15 Years
20 Years
Global Balanced
-3.79%
2.97%
1.37%
4.32%
3.81%
3.02%
4.13%
Primary Benchmark (a)
4.69%
8.15%
6.21%
6.85%
6.96%
6.26%
5.49%
Relative Performance
-8.48%
-5.18%
-4.84%
-2.53%
-3.15%
-3.24%
-1.36%

Annualized Performance (Gross)

THROUGH September 30, 2019 | REPORTING CURRENCY: USD
 
1 Year
3 Years
5 Years
7 Years
10 Years
15 Years
20 Years
Global Balanced
-3.16%
3.64%
2.06%
5.20%
4.83%
4.07%
5.16%
Primary Benchmark (a)
4.69%
8.15%
6.21%
6.85%
6.96%
6.26%
5.49%
Relative Performance
-7.85%
-4.51%
-4.15%
-1.65%
-2.13%
-2.19%
-0.33%

Annual Periods (Net)

THROUGH September 30, 2019 | REPORTING CURRENCY: USD
 
2018
2017
2016
2015
2014
2013
2012
Global Balanced
-7.91%
10.89%
8.25%
-5.06%
-0.75%
22.25%
7.84%
Primary Benchmark (a)
-5.97%
16.46%
6.18%
-0.37%
5.50%
11.55%
10.13%
 
2011
2010
2009
2008
2007
2006
2005
Global Balanced
-4.50%
5.70%
17.68%
-32.92%
0.69%
21.24%
3.32%
Primary Benchmark (a)
1.35%
9.65%
17.56%
-19.52%
8.27%
12.02%
6.04%
 
2004
2003
2002
2001
2000
1999
Global Balanced
12.81%
33.18%
-13.25%
-0.68%
18.92%
10.02%
Primary Benchmark (a)
9.58%
18.07%
-5.44%
-4.48%
-1.32%
11.53%

Quarterly Performance (Net And Gross)

THROUGH September 30, 2019 | REPORTING CURRENCY: USD
Year
 
1Q
2Q
3Q
4Q
YTD
2019
NET
GROSS
Primary Benchmark (a)
-00 4.57%
-00 4.74%
-00 9.59%
00 -0.26%
00 -0.10%
-00 3.84%
00 -0.97%
00 -0.80%
-00 1.11%
-0000000
-0000000
-0000000
-00 3.29%
-00 3.79%
-0 15.06%
2018
NET
GROSS
Primary Benchmark (a)
00 -0.46%
00 -0.29%
00 -1.28%
00 -1.24%
00 -1.08%
-00 1.16%
-00 0.56%
-00 0.72%
-00 3.48%
00 -6.85%
00 -6.70%
00 -9.01%
00 -7.91%
00 -7.31%
00 -5.97%
2017
NET
GROSS
Primary Benchmark (a)
-00 3.89%
-00 4.06%
-00 4.70%
-00 1.34%
-00 1.50%
-00 3.26%
-00 3.99%
-00 4.16%
-00 3.63%
-00 1.29%
-00 1.46%
-00 3.95%
-0 10.89%
-0 11.62%
-0 16.46%
2016
NET
GROSS
Primary Benchmark (a)
-00 1.22%
-00 1.39%
-00 0.75%
00 -0.28%
00 -0.11%
-00 1.39%
-00 3.59%
-00 3.76%
-00 3.55%
-00 3.51%
-00 3.68%
-00 0.39%
-00 8.25%
-00 8.95%
-00 6.18%
2015
NET
GROSS
Primary Benchmark (a)
-00 1.10%
-00 1.27%
-00 2.05%
-00 0.66%
-00 0.83%
00 -0.27%
00 -7.79%
00 -7.64%
00 -5.61%
-00 1.17%
-00 1.33%
-00 3.72%
00 -5.06%
00 -4.44%
00 -0.37%
2014
NET
GROSS
Primary Benchmark (a)
-00 1.86%
-00 2.17%
-00 1.60%
-00 3.32%
-00 3.63%
-00 3.44%
00 -4.52%
00 -4.23%
00 -1.00%
00 -1.23%
00 -0.93%
-00 1.39%
00 -0.75%
-00 0.46%
-00 5.50%
2013
NET
GROSS
Primary Benchmark (a)
-00 5.80%
-00 6.13%
-00 3.75%
-00 2.74%
-00 3.06%
00 -0.82%
-00 7.69%
-00 8.02%
-00 4.36%
-00 4.43%
-00 4.75%
-00 3.87%
-0 22.25%
-0 23.77%
-0 11.55%
2012
NET
GROSS
Primary Benchmark (a)
-00 7.26%
-00 7.59%
-00 5.81%
00 -4.59%
00 -4.29%
00 -1.41%
-00 3.06%
-00 3.38%
-00 4.14%
-00 2.25%
-00 2.57%
-00 1.36%
-00 7.84%
-00 9.18%
-0 10.13%
2011
NET
GROSS
Primary Benchmark (a)
-00 2.96%
-00 3.29%
-00 2.57%
-00 1.22%
-00 1.54%
-00 1.40%
0 -12.18%
0 -11.89%
00 -6.69%
-00 4.35%
-00 4.68%
-00 4.42%
00 -4.50%
00 -3.27%
-00 1.35%
2010
NET
GROSS
Primary Benchmark (a)
-00 1.54%
-00 1.87%
-00 2.48%
00 -9.27%
00 -8.95%
00 -4.65%
-00 9.56%
-00 9.91%
-00 8.12%
-00 4.72%
-00 5.05%
-00 3.78%
-00 5.70%
-00 7.10%
-00 9.65%
2009
NET
GROSS
Primary Benchmark (a)
0 -10.08%
00 -9.76%
00 -5.79%
-0 14.82%
-0 15.19%
-0 10.79%
-0 12.24%
-0 12.60%
-0 10.37%
-00 1.56%
-00 1.90%
-00 2.05%
-0 17.68%
-0 19.26%
-0 17.56%
2008
NET
GROSS
Primary Benchmark (a)
00 -9.94%
00 -9.64%
00 -3.27%
00 -4.45%
00 -4.13%
00 -1.29%
0 -10.82%
0 -10.51%
00 -7.82%
0 -12.59%
0 -12.27%
00 -8.55%
0 -32.92%
0 -31.99%
0 -19.52%
2007
NET
GROSS
Primary Benchmark (a)
-00 1.99%
-00 2.33%
-00 2.01%
-00 5.03%
-00 5.38%
-00 2.93%
00 -1.21%
00 -0.88%
-00 2.73%
00 -4.86%
00 -4.55%
-00 0.38%
-00 0.69%
-00 2.01%
-00 8.27%
2006
NET
GROSS
Primary Benchmark (a)
-00 6.11%
-00 6.29%
-00 2.94%
-00 0.24%
-00 0.48%
00 -0.28%
-00 7.27%
-00 7.49%
-00 4.16%
-00 6.25%
-00 6.47%
-00 4.77%
-0 21.24%
-0 22.23%
-0 12.02%
2005
NET
GROSS
Primary Benchmark (a)
00 -2.04%
00 -1.85%
00 -0.77%
-00 0.76%
-00 0.97%
-00 1.78%
-00 5.59%
-00 5.79%
-00 3.10%
00 -0.87%
00 -0.59%
-00 1.84%
-00 3.32%
-00 4.22%
-00 6.04%
2004
NET
GROSS
Primary Benchmark (a)
-00 3.15%
-00 3.35%
-00 2.66%
-00 1.37%
-00 1.59%
00 -0.79%
00 -1.58%
00 -1.38%
-00 1.13%
-00 9.61%
-00 9.84%
-00 6.39%
-0 12.81%
-0 13.73%
-00 9.58%
2003
NET
GROSS
Primary Benchmark (a)
00 -6.27%
00 -6.00%
00 -1.86%
-0 18.56%
-0 18.75%
-00 9.67%
-00 5.37%
-00 5.56%
-00 2.35%
-0 13.74%
-0 13.96%
-00 7.18%
-0 33.18%
-0 34.28%
-0 18.07%
2002
NET
GROSS
Primary Benchmark (a)
00 -0.32%
00 -0.09%
-00 0.28%
00 -5.12%
00 -4.88%
00 -2.91%
0 -14.56%
0 -14.36%
00 -7.28%
-00 7.35%
-00 7.50%
-00 4.75%
0 -13.25%
0 -12.51%
00 -5.44%
2001
NET
GROSS
Primary Benchmark (a)
00 -1.99%
00 -1.74%
00 -5.04%
-00 2.80%
-00 3.00%
-00 1.61%
00 -6.07%
00 -5.83%
00 -5.06%
-00 4.96%
-00 5.12%
-00 4.28%
00 -0.68%
-00 0.19%
00 -4.48%
2000
NET
GROSS
Primary Benchmark (a)
00 -4.21%
00 -3.96%
-00 1.68%
-00 6.09%
-00 6.38%
00 -0.93%
-00 5.44%
-00 5.71%
00 -1.00%
-0 10.99%
-0 11.21%
00 -1.05%
-0 18.92%
-0 20.11%
00 -1.32%
1999
NET
GROSS
Primary Benchmark (a)
-00 2.28%
-00 2.50%
-00 1.55%
-00 9.52%
-00 9.81%
-00 1.94%
00 -4.11%
00 -3.86%
00 -0.38%
-00 2.43%
-00 2.76%
-00 8.15%
-0 10.02%
-0 11.19%
-0 11.53%

Composite Characteristics

THROUGH September 30, 2019 | REPORTING CURRENCY: USD
Year
#Accts
Assets
(mil)
Dispersion
% of non-fee
paying assets
Total Firm
Assets (mil)
2019
-000,0 32
-000,0 21
-000,
-000,
-0 21,138
2018
-000,0 41
-000,0 22
-00 0.57
-00 2
-0 22,106
2017
-000,0 47
-000,0 31
-00 0.77
-00 2
-0 25,578
2016
-000,0 57
-000,0 31
-00 0.79
-00 6
-0 22,971
2015
-000,0 69
-000,0 30
-00 0.69
-00 6
-0 20,666
2014
-000,0 81
-000,0 37
-00 0.73
-00 5
-0 20,722
2013
-000,0 78
-000,0 40
-00 0.87
-00 1
-0 21,464
2012
-000,0 92
-000,0 37
-00 0.89
-00 2
-0 22,171
2011
-000, 107
-000,0 40
-00 0.81
-00 2
-0 26,658
2010
-000, 143
-000,0 55
-00 0.73
-00 2
-0 38,659
2009
-000, 212
-000,0 70
-00 1.66
-00 2
-0 42,152
2008
-000, 278
-000,0 69
-00 0.98
-0 <1
-0 40,591
2007
-000, 316
-000, 143
-00 1.03
-0 <1
-0 83,242
2006
-000, 347
-000, 142
-00 1.13
-00 0
-0 85,974
2005
-000, 335
-000, 156
-00 1.63
-00 0
- 101,874
2004
-000, 326
-000, 129
-00 1.71
-00 0
-0 98,078
2003
-000, 340
-000, 117
-00 2.70
-00 0
-0 75,789
2002
-000, 365
-000, 129
-00 1.36
-00 0
-0 51,808
2001
-000, 366
-000, 118
-00 1.52
-00 0
-0 61,996
2000
-000, 321
-000, 139
-00 2.19
-00 0
-0 50,852
1999
-000, 378
-000, 127
-00 2.51
-00 0
-0 41,538
THROUGH September 30, 2019 | 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 Global Balanced Composite seeks to achieve long-term capital appreciation and current income by investing primarily in a combination of undervalued equity securities and fixed income securities of both U.S. and non-U.S. issuers. It primarily invests in equity securities whose equity market capitalization exceeds $1 billion, short to intermediate maturity bonds and cash equivalents. The composite will typically have between 40% and 75% of its total assets invested in equity securities, determined at time of purchase, depending on the firm’s ability to find individual companies meeting its investment criteria. Generally, no more than 30% of the composite total assets, measured at the time of purchase, may be invested in equity securities of companies located in emerging and frontier countries throughout the world.
 
(a) The World Balanced Index (rebalanced monthly) is composed of 70% MSCI World Index with net dividends and 30% U.S. Broad Investment Grade Corporate Bond Index. The MSCI World Index captures large and mid-cap representation of developed markets. The U.S. Broad Investment Grade Corporate Bond Index tracks the performance of U.S. dollar-denominated bonds issued in the U.S. investment-grade bond market. Prior to April 1, 2015, the World Balanced index was composed of a 50 percent allocation to each benchmark in the blend. Brandes Investment Partners believes the rebalance of the benchmark’s allocation better represents the Global Balanced strategy’s asset allocation to equities and fixed income. 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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