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Brandes International Equity Fund
mutual fund
BIIEX
Payout Change
Pending
Price as of:
$23.14
-0.04
-0.17%
primary theme
International Large-Cap Value Equity
share class
BIIEX (Mutual Fund)
Brandes International Equity Fund
Payout Change
Pending
Price as of:
$23.14
-0.04
-0.17%
primary theme
International Large-Cap Value Equity
share class
BIIEX (Mutual Fund)
Brandes International Equity Fund
Payout Change
Pending
Price as of:
$23.14
-0.04
-0.17%
primary theme
International Large-Cap Value Equity
share class
Name
As of 10/02/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
17.3%
1 yr return
32.7%
3 Yr Avg Return
11.6%
5 Yr Avg Return
11.4%
Net Assets
$769 M
Holdings in Top 10
25.1%
52 WEEK LOW AND HIGH
$23.2
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.93%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 30.41%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$100,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 10/02/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
BIIEX - Profile
Distributions
- YTD Total Return 17.3%
- 3 Yr Annualized Total Return 11.6%
- 5 Yr Annualized Total Return 11.4%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 3.25%
- Dividend Yield 6.3%
- Dividend Distribution Frequency Quarterly
Fund Details
-
Legal NameBrandes International Equity Fund
-
Fund Family NameBrandes Investment Trust
-
Inception DateFeb 18, 1997
-
Shares OutstandingN/A
-
Share ClassI
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerBrent Woods
Fund Description
The International Equity Fund invests primarily in equity securities of foreign companies. The Fund typically invests in foreign companies with market capitalizations (market value of publicly traded equity securities) greater than $5 billion at the time of purchase. A foreign company is determined to be “foreign” on the basis of its domicile, its principal place of business, its primary stock exchange listing, and/or the source of its revenues. Under normal market conditions, the Fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) measured at the time of purchase in equity securities of companies located in at least three countries outside the United States. Equity securities include common and preferred stocks, warrants and rights. The Fund may invest
up to 30% of its total assets, measured at the time of purchase, in securities of companies located in emerging markets(including frontier markets). The Fund may invest up to 5% of its total assets, measured at the time of purchase, in any one company. From time to time, the Fund may invest more than 20% of its assets in any market sector, such as the financial sector or health care sector.
The International Equity Fund may invest in companies located around the world. With respect to Fund investments in any particular country, the Fund may invest up to the greater of either (a) 20% of its total assets measured at the time of purchase or (b) 150% of the weighting of such country as represented in the Morgan Stanley Capital International Europe, Australasia, Far East (“MSCI EAFE”) Index, measured at the time of purchase. As a result, the Fund may have significant exposure to any particular country.
The International Equity Fund may invest from time to time in cash or short-term cash equivalent securities either as part of its overall investment strategy or for temporary defensive purposes in response to adverse market, economic, political or other conditions. The amount of such holdings will vary and will depend on the Advisor’s assessment of the quantity and quality of investment opportunities that exist at any given time, and may at times be relatively high.
Brandes Investment Partners, L.P., the International Equity Fund’s investment advisor (the “Advisor”), uses the principles of value investing to analyze and select equity securities for the Fund’s investment portfolio. When buying equity securities, the Advisor assesses the estimated “intrinsic” value of a company based on data such as a company’s earnings, cash flow generation, and/or asset value of the underlying business. By choosing securities that are selling at a discount to the Advisor’s estimates of the underlying company’s intrinsic value, the Advisor seeks to establish an opportunity for long-term capital appreciation. The Advisor may sell a security when its price reaches the Advisor’s estimate of the underlying company’s intrinsic value, the Advisor believes that other investments are more attractive, or for other reasons.
BIIEX - Performance
Return Ranking - Trailing
| Period | BIIEX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 17.3% | 0.9% | 19.3% | 2.61% |
| 1 Yr | 32.7% | 5.0% | 34.8% | 2.93% |
| 3 Yr | 11.6%* | -0.9% | 81.9% | 2.95% |
| 5 Yr | 11.4%* | 2.3% | 48.8% | 3.89% |
| 10 Yr | 6.7%* | 0.6% | 23.4% | 6.63% |
* Annualized
Return Ranking - Calendar
| Period | BIIEX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 26.9% | 1.0% | 26.9% | 0.64% |
| 2022 | -11.8% | -27.8% | 166.1% | 35.69% |
| 2021 | 8.7% | -66.6% | 64.4% | 37.91% |
| 2020 | -4.1% | -23.1% | 17.3% | 75.09% |
| 2019 | 10.1% | 4.4% | 31.6% | 91.58% |
Total Return Ranking - Trailing
| Period | BIIEX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 17.3% | 0.9% | 19.3% | 2.61% |
| 1 Yr | 32.7% | 5.0% | 34.8% | 2.93% |
| 3 Yr | 11.6%* | -0.9% | 81.9% | 2.95% |
| 5 Yr | 11.4%* | 2.3% | 48.8% | 3.89% |
| 10 Yr | 6.7%* | 0.6% | 23.4% | 6.63% |
* Annualized
Total Return Ranking - Calendar
| Period | BIIEX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 30.9% | 5.4% | 31.0% | 0.64% |
| 2022 | -7.3% | -19.9% | 344.3% | 30.55% |
| 2021 | 13.1% | -0.2% | 75.3% | 35.95% |
| 2020 | -1.2% | -20.4% | 18.9% | 78.84% |
| 2019 | 15.3% | 11.2% | 32.1% | 83.86% |
NAV & Total Return History
BIIEX - Holdings
Concentration Analysis
| BIIEX | Category Low | Category High | BIIEX % Rank | |
|---|---|---|---|---|
| Net Assets | 769 M | 2.04 M | 46.7 B | 42.81% |
| Number of Holdings | 72 | 2 | 2513 | 64.86% |
| Net Assets in Top 10 | 204 M | 435 K | 13.8 B | 46.01% |
| Weighting of Top 10 | 25.09% | 7.2% | 100.0% | 56.41% |
Top 10 Holdings
- Northern Inst Fds TREAS PRT PRMR 3.15%
- Takeda Pharmaceutical Co Ltd. NPV 3.06%
- Alibaba Group Holding Ltd. USD0.000003125 2.70%
- Sanofi EUR2 2.55%
- Heineken Holding N.V. EUR1.60 2.51%
- SAP SE ORD NPV 2.32%
- Taiwan Semiconductor Manufacturing Co., Ltd. TWD10 2.25%
- Henkel AG Co. KGaA NPV(BR) 2.21%
- Rolls-Royce Holdings PLC ORD GBP0.20 2.19%
- Intesa Sanpaolo S.p.A. NPV 2.16%
Asset Allocation
| Weighting | Return Low | Return High | BIIEX % Rank | |
|---|---|---|---|---|
| Stocks | 95.29% | 7.74% | 105.58% | 80.51% |
| Preferred Stocks | 3.52% | 0.00% | 4.41% | 2.24% |
| Cash | 3.15% | 0.00% | 13.78% | 35.14% |
| Other | 0.00% | -0.05% | 43.33% | 89.78% |
| Convertible Bonds | 0.00% | 0.00% | 0.15% | 87.86% |
| Bonds | 0.00% | 0.00% | 81.81% | 87.86% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | BIIEX % Rank | |
|---|---|---|---|---|
| Consumer Defense | 19.44% | 0.00% | 31.84% | 5.48% |
| Financial Services | 18.67% | 0.00% | 42.76% | 61.61% |
| Healthcare | 18.32% | 0.00% | 23.28% | 7.42% |
| Consumer Cyclical | 11.02% | 0.00% | 27.46% | 34.52% |
| Communication Services | 10.66% | 0.29% | 22.75% | 18.06% |
| Energy | 8.68% | 0.00% | 26.59% | 36.13% |
| Basic Materials | 5.75% | 0.00% | 30.76% | 80.65% |
| Real Estate | 2.67% | 0.00% | 17.06% | 28.06% |
| Industrials | 2.53% | 1.03% | 36.79% | 95.48% |
| Utilities | 2.26% | 0.00% | 27.46% | 60.00% |
| Technology | 0.00% | 0.00% | 24.16% | 99.68% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | BIIEX % Rank | |
|---|---|---|---|---|
| Non US | 89.96% | 0.00% | 99.55% | 64.86% |
| US | 5.34% | 0.00% | 100.40% | 51.76% |
BIIEX - Expenses
Operational Fees
| BIIEX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.93% | 0.01% | 5.99% | 56.87% |
| Management Fee | 0.75% | 0.00% | 1.25% | 69.55% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | 0.03% | 0.03% | 0.47% | 11.90% |
Sales Fees
| BIIEX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 3.50% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 1.00% | N/A |
Trading Fees
| BIIEX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 0.25% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| BIIEX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 30.41% | 2.00% | 158.16% | 34.31% |
BIIEX - Distributions
Dividend Yield Analysis
| BIIEX | Category Low | Category High | BIIEX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 6.30% | 0.00% | 13.19% | 75.00% |
Dividend Distribution Analysis
| BIIEX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Quarterly | Annual | Quarterly | Quarterly |
Net Income Ratio Analysis
| BIIEX | Category Low | Category High | BIIEX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 3.25% | 0.18% | 7.85% | 17.26% |
Capital Gain Distribution Analysis
| BIIEX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 29, 2023 | $0.119 | OrdinaryDividend |
| Sep 29, 2023 | $0.041 | OrdinaryDividend |
| Jun 30, 2023 | $0.347 | OrdinaryDividend |
| Dec 30, 2022 | $0.067 | OrdinaryDividend |
| Sep 30, 2022 | $0.101 | OrdinaryDividend |
| Jun 30, 2022 | $0.361 | OrdinaryDividend |
| Mar 31, 2022 | $0.039 | OrdinaryDividend |
| Dec 31, 2021 | $0.222 | OrdinaryDividend |
| Sep 30, 2021 | $0.078 | OrdinaryDividend |
| Jun 30, 2021 | $0.276 | OrdinaryDividend |
| Mar 31, 2021 | $0.112 | OrdinaryDividend |
| Dec 31, 2020 | $0.031 | OrdinaryDividend |
| Sep 30, 2020 | $0.025 | OrdinaryDividend |
| Jun 30, 2020 | $0.171 | OrdinaryDividend |
| Mar 31, 2020 | $0.082 | OrdinaryDividend |
| Dec 31, 2019 | $0.119 | OrdinaryDividend |
| Sep 30, 2019 | $0.148 | OrdinaryDividend |
| Jun 28, 2019 | $0.275 | OrdinaryDividend |
| Mar 29, 2019 | $0.109 | OrdinaryDividend |
| Dec 31, 2018 | $0.120 | OrdinaryDividend |
| Sep 28, 2018 | $0.085 | OrdinaryDividend |
| Jun 29, 2018 | $0.229 | OrdinaryDividend |
| Mar 29, 2018 | $0.011 | OrdinaryDividend |
| Sep 29, 2017 | $0.071 | OrdinaryDividend |
| Jun 30, 2017 | $0.177 | OrdinaryDividend |
| Mar 31, 2017 | $0.073 | OrdinaryDividend |
| Dec 30, 2016 | $0.245 | OrdinaryDividend |
| Sep 30, 2016 | $0.076 | OrdinaryDividend |
| Jun 30, 2016 | $0.191 | OrdinaryDividend |
| Mar 31, 2016 | $0.053 | OrdinaryDividend |
| Dec 31, 2015 | $0.069 | OrdinaryDividend |
| Sep 30, 2015 | $0.091 | OrdinaryDividend |
| Jun 30, 2015 | $0.155 | OrdinaryDividend |
| Mar 31, 2015 | $0.067 | OrdinaryDividend |
| Dec 31, 2014 | $0.013 | OrdinaryDividend |
| Sep 30, 2014 | $0.059 | OrdinaryDividend |
| Jun 30, 2014 | $0.196 | OrdinaryDividend |
| Mar 31, 2014 | $0.093 | OrdinaryDividend |
| Dec 31, 2013 | $0.018 | OrdinaryDividend |
| Sep 30, 2013 | $0.069 | OrdinaryDividend |
| Jun 28, 2013 | $0.279 | OrdinaryDividend |
| Dec 06, 2012 | $0.496 | OrdinaryDividend |
| Dec 06, 2011 | $0.658 | OrdinaryDividend |
| Dec 31, 2010 | $0.347 | OrdinaryDividend |
| Dec 30, 2009 | $0.262 | OrdinaryDividend |
| Dec 29, 2008 | $0.108 | CapitalGainShortTerm |
| Dec 29, 2008 | $1.069 | CapitalGainLongTerm |
| Dec 29, 2008 | $0.469 | OrdinaryDividend |
| Dec 27, 2007 | $0.249 | CapitalGainShortTerm |
| Dec 27, 2007 | $3.039 | CapitalGainLongTerm |
| Dec 27, 2007 | $0.453 | OrdinaryDividend |
| Dec 19, 2006 | $0.445 | CapitalGainShortTerm |
| Dec 19, 2006 | $1.834 | CapitalGainLongTerm |
| Dec 19, 2006 | $0.316 | OrdinaryDividend |
| Dec 16, 2005 | $0.309 | CapitalGainShortTerm |
| Dec 16, 2005 | $1.119 | CapitalGainLongTerm |
| Dec 16, 2005 | $0.278 | OrdinaryDividend |
| Dec 16, 2004 | $0.791 | CapitalGainLongTerm |
| Dec 16, 2004 | $0.221 | OrdinaryDividend |
| Dec 16, 2003 | $0.132 | OrdinaryDividend |
| Dec 16, 2002 | $0.429 | CapitalGainLongTerm |
| Dec 16, 2002 | $0.180 | OrdinaryDividend |
| Dec 14, 2001 | $0.072 | CapitalGainShortTerm |
| Dec 14, 2001 | $0.666 | CapitalGainLongTerm |
| Dec 14, 2001 | $0.226 | OrdinaryDividend |
BIIEX - Fund Manager Analysis
Managers
Brent Woods
Start Date
Tenure
Tenure Rank
Dec 31, 1997
24.43
24.4%
As CEO, Brent Woods leads the firm’s Senior Management Team, which is responsible for day-to-day operations and long-term strategic direction. He is also a member of the International Large-Cap Investment Committee and the ESG Oversight Committee. Mr. Woods is also a limited partner of the firm’s parent company. Previously, he worked as Managing Director of the Investments Group. Mr. Woods earned his AB from Princeton, his Master’s in international studies from Cambridge University, England, and his JD (cum laude) from Harvard. His relevant experience began in 1995, when he joined Brandes.
Amelia Morris
Start Date
Tenure
Tenure Rank
Dec 31, 1998
23.43
23.4%
Amelia Morris oversees equity research activities in the consumer sector and covers the European retail and telecom services industries. She is a member of the International Large-Cap Investment Committee and a limited partner of the firm’s parent company. Previously she’s been a member of the Emerging Markets Investment Committee, Investment Oversight Committee and Brandes Institute Advisory Board. Ms. Morris earned her AB from UC Davis and MBA from Booth-Chicago. She holds the CFA Institute Certificate in ESG Investing. Her relevant experience began in 1986, and joined Brandes in 1998.
Jeffrey Germain
Start Date
Tenure
Tenure Rank
Dec 31, 2009
12.42
12.4%
Jeff Germain, a limited partner of the firm’s parent company, is a Senior Analyst on the Basic Materials Research Team and a member of the International Large-Cap Investment Committee. Prior to joining Brandes, he was a Financial Analyst with Harcourt and the CFO of Golf Destinations. Mr. Germain earned his BS in business administration with a concentration in finance from the University of North Carolina at Chapel Hill. His relevant experience began in 2001, when he joined Brandes Investment Partners.
Luiz Sauerbronn
Start Date
Tenure
Tenure Rank
Jan 31, 2013
9.33
9.3%
Luiz Sauerbronn is a Senior Analyst on the Industrials Research Team and a member of the International Large-Cap and Small-Cap Investment Committees. He is also a member of the ESG Oversight Committee as well as a limited partner of the firm’s parent company. Prior to Brandes, he worked at J.P. Morgan, Banco Brascan (part of Brookfield) in Brazil, and Royal Dutch Shell. Earned his BS in economics from the Federal University of Rio de Janeiro and his MBA from Haas (UC Berkeley). His relevant experience began in 1995, and he joined Brandes in 2001.
Shingo Omura
Start Date
Tenure
Tenure Rank
Jan 31, 2013
9.33
9.3%
Shingo Omura is a Senior Analyst and leader of the Health Care Research Team, with a primary emphasis on pharmaceutical companies. Member of the International Large-Cap Investment Committee and primary Product Coordinator for the Japan Equity strategy. He is also a member of the ESG Oversight Committee and a limited partner of the firm’s parent company. Prior to Brandes, Mr. Omura worked as a sell-side Research Analyst in Japan. Earned his BA from Keio University in Tokyo, Japan, and MBA from Haas (UC Berkeley). His relevant experience began in 2001, and joined Brandes in 2005.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.25 | 29.68 | 7.77 | 0.54 |
