The Brandes Small Cap Value Fund is managed by the Small-Cap Investment Committee, which includes experienced professionals with over 17 years of experience at Brandes and extensive industry expertise. Key personnel include Mark Costa, CFA, who serves as Director and committee member, highlighting how small-cap stocks are currently undervalued with valuation ratios near 30-year lows. Luiz Sauerbronn serves as Director of the Investments Group with analyst responsibilities on the Industrials Research Team and membership on both International Large-Cap and Small-Cap Investment Committees. The management company, Brandes Investment Partners, was founded in 1974 by Charles Brandes after meeting Benjamin Graham, operating as a 100% employee-owned firm pioneering global value investing. The firm manages approximately $40.85 billion in total assets under management as of October 31, 2025. Brandes operates globally with offices in Dublin, Milwaukee, Singapore, and Toronto, in addition to its San Diego headquarters. The investment team brings collective expertise across various sectors and maintains a collaborative decision-making process. The fund's management demonstrates commitment to long-term value creation through low portfolio turnover of 23% and typical holding periods of two to five years.

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The Brandes Small Cap Value Fund employs the Graham and Dodd value investing philosophy that has guided Brandes Investment Partners since 1974. The fund seeks long-term capital appreciation by investing predominantly in U.S. equity securities of small-capitalization companies that the investment team believes are undervalued relative to their financial strength and upside potential. The investment approach centers on identifying securities selling at a discount to their estimated intrinsic value, using fundamental analysis to assess companies based on earnings, cash flow generation, and asset values. This disciplined, bottom-up investing approach seeks to take advantage of market irrationality and short-term security mispricing. The firm believes the gap between purchase price and intrinsic value provides a margin of safety, with greater margins offering enhanced protection for investments. Securities are typically held for two to five years to allow time for the market to correct mispricings. The investment process involves screening over 5,000 companies based on valuation metrics, followed by in-depth fundamental analysis. Senior investment committees assess valuation reports, establish target prices, and make collaborative buy/sell decisions. The fund maintains at least 80% allocation to U.S. small-cap companies with market capitalizations of $7.5 billion or less at time of purchase.

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