Brandes Institutional International Equity Fund - Overview
Investment Objective
The Fund seeks long-term capital appreciation.
Principal Investment Strategies of the Fund
The Fund invests principally in common and preferred stocks of foreign companies and securities that are convertible into such common stocks. These companies generally have market capitalizations (market value of publicly traded securities) greater than $1 billion. Under normal conditions, the Fund invests at least 80% of its net assets measured at the time of purchase in equity securities of issuers located in at least three countries outside the U.S. Up to 30% of the Fund's total assets, measured at the time of purchase, may be invested in securities of companies located in countries with emerging securities markets. Up to 10% of the Fund's total assets, measured at the time of purchase, may be invested in securities of small capitalization companies (those whose market value of publicly traded securities totals $1 billion or less measured at the time of purchase). The Investment Advisor uses the principles of value investing to analyze and select equity securities for the Fund's investment portfolio.
Additional information about the Fund's investments is available in the Fund's annual and semi-annual reports to shareholders. In the Fund's annual report, you will find a discussion of the market conditions and investment strategies that significantly affected the Fund's performance during the period of the report. You may obtain these reports at no cost by calling 1-800-331-2979 or by clicking on the Downloads link above.
Principal Risks of Investing in the Fund
General Stock Market Risks. The Fund's principal risks are those of investing in the stock market. The values of the Fund's investments fluctuate in response to the activities of individual companies and general stock market and economic conditions. That means they may experience sudden, unpredictable declines in value, as well as periods of poor performance. Because stock values fluctuate, when you sell your investment you may receive more or less money than you originally invested.
Foreign Securities. Foreign investments involve additional risks, including currency fluctuations, political instability, differences in financial reporting standards and less stringent regulation of securities markets. Emerging market countries involve greater risks, such as immature economic structures, national policies restricting investments by foreigners, and different legal systems.
The Fund may be appropriate for investors who are willing to ride out short-term stock market fluctuations in pursuit of potentially above-average long-term returns. By itself, the Fund does not constitute a complete investment plan.
Fees and Expenses
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.
| Class I | Class E | Class S | |
|---|---|---|---|
| Shareholder Fees (fees paid directy from your investment) |
None | None | None |
| Annual Fund Operating Expenses (fees paid from Fund assets) |
|||
| Management Fees | 1.00% | 1.00% | 1.00% |
| Distribution (rule 12b-1) Fees | None | None | 0.25% |
| Other Expenses | |||
| Shareholder Service Fees | N/A | 0.25% | None |
| Other Expenses | 0.13% | 0.13% | 0.13% |
| Total Other Expenses | 0.13% | 0.38% | 0.13% |
| Total Annual Fund Operating Expenses | 1.13% | 1.38% | 1.38% |
Please refer to the Prospectus for important information about the investment company including investment objectives, risks, charges and expenses. To obtain a hard copy Prospectus, please call the Mutual Fund Group at 800.395.3807.