AT A GLANCE
| Brandes Fund | Availability | Objective | Strategy | Inception Date | Ticker Symbol | Total Net Assets (as of 9/30/11) |
|---|---|---|---|---|---|---|
| Institutional International Equity Fund | Open | Long-term capital appreciation | The Fund invests in common and preferred stock of foreign companies | 01/03/1997 | BIIEX | $456.8 Million |
| Separately Managed Account Reserve Trust (SMART) | Open | Maximize total long-term return | The Fund primarily invests in a diversified portfolio of debt securities | 10/03/2005 | SMARX | $152.0 Million |
| Institutional Core Plus Fixed Income Fund | Open | Maximize total return, consisting of both current income and capital appreciation | The Fund is comprised of bonds issued by U.S. and non-U.S. companies, as well as U.S. and non-U.S. governments | 12/28/2007 | BCPIX | $28.0 Million |
| Institutional Global Equity Fund | Open | Long-term capital appreciation | The Fund invests in common and preferred stock of foreign and domestic companies | 10/06/2008 | BGVIX | $37.1 Million |
| Institutional Emerging Markets Equity Fund | Open | Long-term total return, including income and capital appreciation | The Fund normally invests at least 80% of its net assets in equity securities of companies located in emerging markets | 08/20/1996 | BEMIX | $110.6 Million |
Mutual fund investing involves risk; principal loss is possible. The Brandes Funds will invest in foreign securities and emerging markets, which involve risks such as currency fluctuation, immature economic structures and legal systems, and political instability. Investment by the Brandes Separately Managed Account Reserve Trust Fund, Institutional Core Plus Fixed Income Fund, and Institutional Enhanced Income Fund in lower-rated and non-rated securities presents a greater risk of loss to principal and interest than higher-rated securities. Investments in debt securities typically decrease in value when interest rates rise. This risk is usually greater for longer-term debt securities. The Funds may also use options and future contracts, which have the risks of unlimited losses of the underlying holdings due to unanticipated market movements and failure to correctly predict the direction of securities prices, interest rates and currency exchange rates. The investment in options is not suitable for all investors.