Brandes Separately Managed Account Reserve Trust - Performance
| Monthly Returns as of: 2012-04-30 | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Fund Name | Ticker | Inception | Month | 3-Month | YTD | 1 year | 3 year | 5 year | 10 year | Since Inception |
| SMART | SMARX | 10/03/2005 | 0.83% | 3.16% | 6.80% | 5.83% | 20.90% | 5.25% | -- | 5.89% |
| Barclays Capital U.S. Aggregate Index1 |
1.11% | 0.53% | 1.41% | 7.54% | 7.06% | 6.37% | -- | 5.94% | ||
| Average Annual Total Returns as of Quarter-End: 2012-03-31 | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Fund Name | Ticker | Inception | Month | 3-Month | YTD | 1 year | 3 year | 5 year | 10 year | Since Inception |
| SMART | SMARX | 10/03/2005 | 0.63% | 5.90% | 5.90% | 6.66% | 24.14% | 5.15% | -- | 5.83% |
| Barclays Capital U.S. Aggregate Index1 |
-0.55% | 0.30% | 0.30% | 7.71% | 6.83% | 6.25% | -- | 5.84% | ||
SMARX Total Annual Operating Expenses 0.87%
SMARX Net Annual Operating Expenses 0.00%2
SEC 30-Day Yield (subsidized): 5.37%
SEC 30-Day Yield (unsubsidized): 5.37%
Performance data quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance of the Funds may be lower or higher than the performance quoted. All performance is historical and includes reinvestment of dividends and capital gains. Performance data current to the most recent month end may be obtained by calling 800.395.3807.
The Brandes Separately Managed Account Reserve Trust Fund may invest in foreign securities, which involve greater volatility and political, economic, and currency risks and differences in accounting methods. Investment by the Brandes Separately Managed Account Reserve Trust 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 Fund 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.
Please refer to the SMART 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.
Shares of the Brandes Separately Managed Account Reserve Trust Fund may be purchased by or on behalf of clients of "wrap account" programs sponsored by broker-dealers which have an agreement with the Advisor. The Board of Trustees may from time to time allow other persons or entities to purchase shares of the Fund, including employee benefit plans and Trustees and employees of the Advisor.
1. The Barclays Capital U.S. Aggregate Bond Index is an unmanaged index consisting of U.S. dollar- denominated, fixed-rate, taxable bonds. The U.S. Aggregate Bond Index is a broad-based benchmark that measures the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, MBS (agency fixed-rate and hybrid ARM passthroughs), ABS, and CMBS. The U.S. Aggregate rolls up into other Barclays Capital flagship indices such as the multi-currency Global Aggregate Index and the U.S. Universal Index, which includes high yield and emerging markets debt. The U.S. Aggregate Index was created in 1986, with index history backfilled to January 1, 1976. The index is a total return index which reflects the price changes and interest of each bond in the index.
2. The Advisor has contractually agreed to indefinitely pay or reimburse all expenses of the Fund other than extraordinary expenses. The "Total Annual Operating Expenses" is the current maximum annual fee that the Fund would charge its clients for fiduciary, trust and/or advisory services if the Fund did not agree to such waiver.