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BRANDES GLOBAL EQUITY FUND
BGVCX (Mutual Fund)
BRANDES GLOBAL EQUITY FUND
Name
As of 12/20/2024Price
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
11.3%
1 yr return
12.1%
3 Yr Avg Return
8.4%
5 Yr Avg Return
8.7%
Net Assets
$47 M
Holdings in Top 10
23.8%
52 WEEK LOW AND HIGH
$28.1
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 2.21%
SALES FEES
Front Load N/A
Deferred Load 1.00%
TRADING FEES
Turnover 20.46%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$2,500
IRA
$1,000
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/20/2024Price
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
BGVCX - Profile
Distributions
- YTD Total Return 11.3%
- 3 Yr Annualized Total Return 8.4%
- 5 Yr Annualized Total Return 8.7%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 1.50%
- Dividend Yield 0.6%
- Dividend Distribution Frequency None
Fund Details
-
Legal NameBRANDES GLOBAL EQUITY FUND
-
Fund Family NameBrandes Funds
-
Inception DateJan 31, 2013
-
Shares OutstandingN/A
-
Share ClassC
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerBrent Fredberg
Fund Description
The Global Equity Fund invests primarily in equity securities of U.S. and foreign companies. The Fund typically invests in 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 invests at least 80% of its net assets (plus any borrowings for investment purposes) measured at the time of purchase in equity securities. 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 Adviser considers an emerging market country to be any country which is in the MSCI EM Index or MSCI Frontier Markets Index or that, in the opinion of the Adviser, is generally considered to be an emerging market country by the international financial community. 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 Global 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 World (“MSCI World”) Index, measured at the time of purchase. As a result, the Fund may have significant exposure to any particular country.
The Global Equity Fund will invest in at least three different countries, and invest at least 40% of its total assets (measured at the time of purchase) outside of the United States or, if conditions are not favorable, invest at least 30% of its total assets (measured at the time of purchase) outside of the United States. For example, if the Adviser determines that non-U.S. markets are generally overvalued compared to U.S. markets, the Fund may invest up to 70% of its total assets within the United States.
The Global 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 Adviser’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 Global Equity Fund’s investment adviser (the “Adviser”), uses the principles of value investing to analyze and select equity securities for the Fund’s investment portfolio. When buying equity securities, the Adviser 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 Adviser’s estimates of the underlying company’s intrinsic value, the Adviser seeks to establish an opportunity for long-term capital appreciation. The Adviser may sell a security when its price reaches the Adviser’s estimate of the underlying company’s intrinsic value, the Adviser believes that other investments are more attractive, or for other reasons.
BGVCX - Performance
Return Ranking - Trailing
| Period | BGVCX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 11.3% | -35.6% | 29.2% | 4.25% |
| 1 Yr | 12.1% | 17.3% | 252.4% | 34.20% |
| 3 Yr | 8.4%* | -3.5% | 34.6% | 92.46% |
| 5 Yr | 8.7%* | 0.1% | 32.7% | 88.72% |
| 10 Yr | 6.3%* | -6.9% | 18.3% | 91.84% |
* Annualized
Return Ranking - Calendar
| Period | BGVCX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 15.7% | -24.3% | 957.1% | 87.12% |
| 2022 | -9.5% | -38.3% | 47.1% | 82.68% |
| 2021 | 13.6% | -54.2% | 0.6% | 58.95% |
| 2020 | -1.6% | -76.0% | 54.1% | 87.41% |
| 2019 | 14.3% | -26.1% | 47.8% | 20.41% |
Total Return Ranking - Trailing
| Period | BGVCX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 11.3% | -35.6% | 29.2% | 4.25% |
| 1 Yr | 12.1% | 11.4% | 252.4% | 32.61% |
| 3 Yr | 8.4%* | -3.5% | 34.6% | 90.51% |
| 5 Yr | 8.7%* | 0.1% | 32.7% | 87.52% |
| 10 Yr | 6.3%* | -6.9% | 18.3% | 91.09% |
* Annualized
Total Return Ranking - Calendar
| Period | BGVCX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 20.6% | -24.3% | 957.1% | 87.12% |
| 2022 | -6.4% | -33.1% | 47.1% | 83.06% |
| 2021 | 20.2% | -44.4% | 1.8% | 42.53% |
| 2020 | 1.3% | -6.5% | 54.1% | 87.99% |
| 2019 | 16.4% | -14.4% | 47.8% | 20.57% |
NAV & Total Return History
BGVCX - Holdings
Concentration Analysis
| BGVCX | Category Low | Category High | BGVCX % Rank | |
|---|---|---|---|---|
| Net Assets | 47 M | 199 K | 133 B | 82.68% |
| Number of Holdings | 70 | 1 | 9075 | 51.54% |
| Net Assets in Top 10 | 12.6 M | -18 M | 37.6 B | 83.81% |
| Weighting of Top 10 | 23.75% | 9.1% | 100.0% | 69.79% |
Top 10 Holdings
- Sanofi EUR2 2.85%
- Erste Group Bank AG NPV 2.78%
- GSK plc ORD GBP0.3125 2.51%
- Rolls-Royce Holdings PLC ORD GBP0.20 2.47%
- Embraer S.A. COM NPV 2.39%
- UBS Group AG USD0.10 2.29%
- Heidelberg Materials AG NPV 2.21%
- Bank of America Corp. COM USD0.01 2.12%
- Shell PLC SPON ADS 2.09%
- Fiserv Inc. COM USD0.01 2.04%
Asset Allocation
| Weighting | Return Low | Return High | BGVCX % Rank | |
|---|---|---|---|---|
| Stocks | 98.25% | 61.84% | 125.47% | 59.91% |
| Cash | 1.73% | -174.70% | 23.12% | 36.23% |
| Preferred Stocks | 0.16% | -0.01% | 5.28% | 80.84% |
| Other | 0.00% | -13.98% | 19.14% | 82.27% |
| Convertible Bonds | 0.00% | 0.00% | 4.46% | 78.85% |
| Bonds | 0.00% | -1.50% | 161.67% | 79.52% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | BGVCX % Rank | |
|---|---|---|---|---|
| Financial Services | 24.60% | 0.00% | 38.42% | 5.07% |
| Healthcare | 22.65% | 0.00% | 35.42% | 8.26% |
| Consumer Cyclical | 10.76% | 0.00% | 40.94% | 53.63% |
| Energy | 10.45% | 0.00% | 21.15% | 1.76% |
| Industrials | 8.23% | 0.00% | 44.06% | 75.00% |
| Technology | 6.61% | 0.00% | 49.87% | 96.48% |
| Communication Services | 5.67% | 0.00% | 57.66% | 81.61% |
| Consumer Defense | 5.61% | 0.00% | 73.28% | 35.13% |
| Basic Materials | 2.52% | 0.00% | 38.60% | 30.07% |
| Real Estate | 1.70% | 0.00% | 39.48% | 47.03% |
| Utilities | 1.18% | 0.00% | 29.12% | 64.54% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | BGVCX % Rank | |
|---|---|---|---|---|
| Non US | 53.98% | 0.58% | 99.46% | 19.60% |
| US | 44.27% | 0.13% | 103.82% | 75.44% |
BGVCX - Expenses
Operational Fees
| BGVCX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 2.21% | 0.01% | 44.27% | 12.54% |
| Management Fee | 0.80% | 0.00% | 1.82% | 76.37% |
| 12b-1 Fee | 0.75% | 0.00% | 1.00% | 75.83% |
| Administrative Fee | 0.03% | 0.01% | 0.76% | 13.03% |
Sales Fees
| BGVCX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 2.50% | 5.75% | N/A |
| Deferred Load | 1.00% | 1.00% | 5.00% | 85.00% |
Trading Fees
| BGVCX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 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.
| BGVCX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 20.46% | 0.00% | 395.00% | 13.88% |
BGVCX - Distributions
Dividend Yield Analysis
| BGVCX | Category Low | Category High | BGVCX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.60% | 0.00% | 3.26% | 78.77% |
Dividend Distribution Analysis
| BGVCX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | None | Annually | Annually | Annually |
Net Income Ratio Analysis
| BGVCX | Category Low | Category High | BGVCX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 1.50% | -4.27% | 12.65% | 47.16% |
Capital Gain Distribution Analysis
| BGVCX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Semi-Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 11, 2024 | $0.017 | CapitalGainShortTerm |
| Dec 11, 2024 | $2.065 | CapitalGainLongTerm |
| Sep 30, 2024 | $0.042 | OrdinaryDividend |
| Mar 28, 2024 | $0.042 | OrdinaryDividend |
| Dec 29, 2023 | $0.069 | OrdinaryDividend |
| Dec 11, 2023 | $0.773 | CapitalGainLongTerm |
| Sep 29, 2023 | $0.044 | OrdinaryDividend |
| Jun 30, 2023 | $0.167 | OrdinaryDividend |
| Mar 31, 2023 | $0.048 | OrdinaryDividend |
| Dec 09, 2022 | $0.327 | CapitalGainLongTerm |
| Sep 30, 2022 | $0.090 | OrdinaryDividend |
| Jun 30, 2022 | $0.167 | OrdinaryDividend |
| Mar 31, 2022 | $0.071 | OrdinaryDividend |
| Dec 31, 2021 | $0.133 | OrdinaryDividend |
| Dec 10, 2021 | $0.897 | OrdinaryDividend |
| Sep 30, 2021 | $0.058 | OrdinaryDividend |
| Jun 30, 2021 | $0.210 | OrdinaryDividend |
| Mar 31, 2021 | $0.133 | OrdinaryDividend |
| Dec 31, 2020 | $0.046 | OrdinaryDividend |
| Dec 11, 2020 | $0.303 | OrdinaryDividend |
| Sep 30, 2020 | $0.023 | OrdinaryDividend |
| Jun 30, 2020 | $0.074 | OrdinaryDividend |
| Mar 31, 2020 | $0.088 | OrdinaryDividend |
| Dec 31, 2019 | $0.075 | OrdinaryDividend |
| Sep 30, 2019 | $0.034 | OrdinaryDividend |
| Jun 28, 2019 | $0.184 | OrdinaryDividend |
| Mar 29, 2019 | $0.074 | OrdinaryDividend |
| Dec 31, 2018 | $0.025 | OrdinaryDividend |
| Dec 07, 2018 | $0.006 | CapitalGainShortTerm |
| Dec 07, 2018 | $1.043 | CapitalGainLongTerm |
| Sep 28, 2018 | $0.026 | OrdinaryDividend |
| Jun 29, 2018 | $0.129 | OrdinaryDividend |
| Dec 29, 2017 | $0.091 | OrdinaryDividend |
| Dec 08, 2017 | $0.001 | CapitalGainShortTerm |
| Dec 08, 2017 | $0.508 | CapitalGainLongTerm |
| Sep 29, 2017 | $0.024 | OrdinaryDividend |
| Jun 30, 2017 | $0.137 | OrdinaryDividend |
| Mar 31, 2017 | $0.001 | OrdinaryDividend |
| Dec 30, 2016 | $0.074 | OrdinaryDividend |
| Sep 30, 2016 | $0.021 | OrdinaryDividend |
| Jun 30, 2016 | $0.158 | OrdinaryDividend |
| Mar 31, 2016 | $0.006 | OrdinaryDividend |
| Dec 31, 2015 | $0.070 | OrdinaryDividend |
| Dec 04, 2015 | $0.276 | CapitalGainShortTerm |
| Dec 04, 2015 | $1.017 | CapitalGainLongTerm |
| Sep 30, 2015 | $0.027 | OrdinaryDividend |
| Jun 30, 2015 | $0.125 | OrdinaryDividend |
| Mar 31, 2015 | $0.023 | OrdinaryDividend |
| Dec 05, 2014 | $0.247 | CapitalGainShortTerm |
| Dec 05, 2014 | $1.374 | CapitalGainLongTerm |
| Sep 30, 2014 | $0.024 | OrdinaryDividend |
| Jun 30, 2014 | $0.194 | OrdinaryDividend |
| Mar 31, 2014 | $0.050 | OrdinaryDividend |
| Dec 31, 2013 | $0.030 | OrdinaryDividend |
| Dec 06, 2013 | $0.094 | CapitalGainShortTerm |
| Dec 06, 2013 | $0.661 | CapitalGainLongTerm |
| Sep 30, 2013 | $0.030 | OrdinaryDividend |
| Jun 28, 2013 | $0.310 | OrdinaryDividend |
BGVCX - Fund Manager Analysis
Managers
Brent Fredberg
Start Date
Tenure
Tenure Rank
Oct 06, 2008
13.66
13.7%
Brent Fredberg, a limited partner of the firm’s parent company, is a Senior Analyst and leader of the Technology Research Team. He is also on the Consumer Products Research Team, with a primary focus on household durables companies and is a member of the Global Large-Cap Investment Committee. Prior to Brandes, he worked for Raytheon/Amana Appliances as a Financial Analyst and Controller. Earned his MBA from Kellogg (Northwestern) and his BS in finance from the University of Iowa. Mr. Fredberg is a CMA (inactive). His experience began in 1994, and joined Brandes in 1999.
Brian Matthews
Start Date
Tenure
Tenure Rank
Jan 31, 2013
9.33
9.3%
Brian Matthews, a limited partner of the firm’s parent company, is a Senior Analyst on the Telecommunications Research Team and a member of the Global Large-Cap Investment Committee. He was previously a member of the Small-Cap Investment Committee. Prior to joining Brandes, he worked as an Investment Banking Analyst with Merrill Lynch. Mr. Matthews earned his BS with concentrations in finance and management (summa cum laude) from the Wharton (Pennsylvania). His relevant experience began in 2000, and he joined Brandes in 2002.
Kenneth Little
Start Date
Tenure
Tenure Rank
Jan 31, 2013
9.33
9.3%
Ken Little, a limited partner of the firm’s parent company, oversees the firm’s research efforts and investment committees. He is a member of the All-Cap and Global Large-Cap Investment Committees and is leader of the Basic Materials and Utilities Research Teams. Mr. Little is a member of the firm’s Senior Management Team and ESG Oversight Committee. Prior to Brandes, he was a Senior Accountant with KPMG. Earned BS from the University of La Verne and his MBA from Fuqua School of Business at Duke and is a CPA (inactive). His investment experience began in 1996, when he joined Brandes.
Ted Kim
Start Date
Tenure
Tenure Rank
Jan 31, 2013
9.33
9.3%
Ted Kim is a Senior Analyst and leader of the Industrials Research Team, specializing in coverage of the automotive and capital goods industries. He is a member of the Global Large-Cap Investment Committee and a limited partner of the firm’s parent company. Prior to joining Brandes, he worked as a Product and Manufacturing Engineer at a major U.S. automobile company. Earned his MBA from Kellogg (Northwestern) and an MS and a BS, both from the Massachusetts Institute of Technology. His experience began in 2000 when he joined Brandes.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.01 | 35.82 | 6.24 | 1.25 |
