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Name

As of 12/31/2024

Price

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

BRANDES INTERNATIONAL EQUITY FUND

BIEAX | Fund

$20.80

$769 M

0.00%

1.13%

Vitals

YTD Return

0.0%

1 yr return

6.7%

3 Yr Avg Return

8.3%

5 Yr Avg Return

6.6%

Net Assets

$769 M

Holdings in Top 10

24.1%

52 WEEK LOW AND HIGH

$21.0
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.13%

SALES FEES

Front Load 5.75%

Deferred Load N/A

TRADING FEES

Turnover 30.41%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$2,500

IRA

$1,000

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 12/31/2024

Price

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

BRANDES INTERNATIONAL EQUITY FUND

BIEAX | Fund

$20.80

$769 M

0.00%

1.13%

BIEAX - Profile

Distributions

  • YTD Total Return 0.0%
  • 3 Yr Annualized Total Return 8.3%
  • 5 Yr Annualized Total Return 6.6%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 3.03%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    BRANDES INTERNATIONAL EQUITY FUND
  • Fund Family Name
    Brandes Funds
  • Inception Date
    Feb 01, 2011
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Brent 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 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 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 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 International 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.
Read More

BIEAX - Performance

Return Ranking - Trailing

Period BIEAX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.0% -6.5% 13.2% 57.81%
1 Yr 6.7% -12.7% 15.9% 31.23%
3 Yr 8.3%* -5.3% 76.9% 2.34%
5 Yr 6.6%* -0.6% 43.7% 11.03%
10 Yr 5.8%* -0.2% 22.8% 13.66%

* Annualized

Return Ranking - Calendar

Period BIEAX Return Category Return Low Category Return High Rank in Category (%)
2024 4.1% -18.9% 18.3% 69.71%
2023 26.7% -27.8% 166.1% 1.96%
2022 -12.0% -66.6% 64.4% 78.67%
2021 8.6% -17.0% 20.3% 8.71%
2020 -4.1% -15.2% 31.6% 89.75%

Total Return Ranking - Trailing

Period BIEAX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.0% -6.5% 13.2% 57.81%
1 Yr 6.7% -12.7% 15.9% 31.23%
3 Yr 8.3%* -5.3% 76.9% 2.34%
5 Yr 6.6%* -0.6% 43.7% 11.03%
10 Yr 5.8%* -0.2% 22.8% 13.66%

* Annualized

Total Return Ranking - Calendar

Period BIEAX Return Category Return Low Category Return High Rank in Category (%)
2024 6.4% -12.7% 22.9% 75.90%
2023 30.4% -19.2% 344.3% 1.96%
2022 -7.5% -19.9% 75.3% 80.33%
2021 12.7% -10.2% 29.5% 10.10%
2020 -1.4% -11.8% 32.1% 90.11%

NAV & Total Return History

BIEAX - Holdings

Concentration Analysis

BIEAX Category Low Category High BIEAX % Rank
Net Assets 769 M 3.42 M 46.7 B 39.74%
Number of Holdings 70 2 2488 66.78%
Net Assets in Top 10 233 M 628 K 14.6 B 44.63%
Weighting of Top 10 24.15% 6.2% 100.0% 57.52%

Top 10 Holdings

  1. Alibaba Group Holding Ltd. USD0.000003125 3.44%
  2. Takeda Pharmaceutical Co Ltd. NPV 2.87%
  3. Sanofi EUR2 2.57%
  4. Heineken Holding N.V. EUR1.60 2.48%
  5. Northern Institutional Funds TREAS PRT PRMR 2.26%
  6. UBS Group AG USD0.10 2.25%
  7. The Swatch Group Ltd. CHF0.45 2.17%
  8. Carrefour S.A. EUR2.50 2.08%
  9. Rolls-Royce Holdings PLC ORD GBP0.20 2.02%
  10. Henkel AG Co. KGaA NPV(BR) 2.01%

Asset Allocation

Weighting Return Low Return High BIEAX % Rank
Stocks 		92.94% 6.62% 104.54% 95.44%
Preferred Stocks 		3.92% 0.00% 3.92% 0.33%
Cash 		3.14% 0.00% 16.68% 23.78%
Other 		0.00% -1.10% 29.32% 37.46%
Convertible Bonds 		0.00% 0.00% 0.15% 1.63%
Bonds 		0.00% 0.00% 100.21% 8.79%

Stock Sector Breakdown

Weighting Return Low Return High BIEAX % Rank
Consumer Defense 		19.44% 0.00% 31.84% 4.61%
Financial Services 		18.67% 0.00% 42.76% 60.86%
Healthcare 		18.32% 0.00% 23.28% 6.58%
Consumer Cyclical 		11.02% 0.00% 27.46% 33.55%
Communication Services 		10.66% 0.29% 22.75% 17.11%
Energy 		8.68% 0.00% 26.59% 34.54%
Basic Materials 		5.75% 0.00% 30.76% 79.61%
Real Estate 		2.67% 0.00% 17.06% 26.97%
Industrials 		2.53% 1.03% 36.79% 94.41%
Utilities 		2.26% 0.00% 27.46% 58.55%
Technology 		0.00% 0.00% 24.16% 94.74%

Stock Geographic Breakdown

Weighting Return Low Return High BIEAX % Rank
Non US 		86.30% 0.00% 99.66% 78.83%
US 		6.63% 0.00% 99.94% 38.44%

BIEAX - Expenses

Operational Fees

BIEAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.13% 0.01% 5.99% 37.79%
Management Fee 0.75% 0.00% 1.25% 62.09%
12b-1 Fee 0.25% 0.00% 1.00% 28.77%
Administrative Fee 0.03% 0.03% 0.47% 1.20%

Sales Fees

BIEAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 5.75% 3.50% 5.75% 2.56%
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

BIEAX 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.

BIEAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 30.41% 2.00% 158.16% 33.46%

BIEAX - Distributions

Dividend Yield Analysis

BIEAX Category Low Category High BIEAX % Rank
Dividend Yield 0.00% 0.00% 13.19% 78.10%

Dividend Distribution Analysis

BIEAX Category Low Category High Category Mod
Dividend Distribution Frequency None Annual Quarterly Annual

Net Income Ratio Analysis

BIEAX Category Low Category High BIEAX % Rank
Net Income Ratio 3.03% 0.18% 7.85% 25.58%

Capital Gain Distribution Analysis

BIEAX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

View More +

BIEAX - 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 7.74 0.54

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