SMARX Fund Facts

Brandes Separately Managed Account Reserve Trust - SMART as of 6/30/10 (Reporting Currency - USD)

Fund Facts

Summary:

Ticker Symbol:

SMARX
NAV:

8.08
Total Net Assets:

$154.5mm
Inception Date:

10/03/05
Dividend Frequency:

Monthly

Sector Allocation*:

U.S. Treasuries & Agencies

0.0%
Corporate Securities

82.4%
Mortgage-Backed Securities

9.2%
Asset Backed Securities

 7.2%
Cash

1.2%
Total

100.0%

Credit Quality Exposure:

Aaa (including cash)

4.0%
Aa

1.4%
A

12.1%
Baa

29.3%
Less than Baa

53.2%
Total

100.0%
Rating Agency: Moody's

Risk Measures:

 

Portfolio   

  Barclays U.S. Aggregate*
Average Maturity

5.38

7.48
Average Duration

3.74 

4.68
Current Yield

6.6 

5.32
Average Coupon

5.67%

5.36%
Average Price

91.33

100.74
Average Yield to Maturity

8.70%

5.10%
Number of Holdings

68

9,469
Rating Agency: Moody's

Top 10 Holdings** (Excluding Treasuries and Agencies):

TYSON FOODS INC

INTERNATIONAL LEASE FIN

ONCOR ELEC DELIVERY CO

NEXTEL COMMUNICATIONS INC

NORSKE SKOG CDA LTD

TENET HEALTHCARE CORP

SLM CORP MTN BOOK ENTRY

TOLL BROS FIN CORP

FORD MOTOR CREDIT CO LLC

GMAC INC
Complete holdings can be viewed by clicking here.

 

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 Fund may be lower or higher than the performance quoted. Performance data current to the most recent month end may be obtained by calling 800.395.3807 or clicking below.

Click here for Standardized Performance and 30-Day SEC Yield.

*The Barclays U.S. Aggregate Index is an unmanaged index consisting of U.S. dollar-denominated, fixed-rate, taxable bonds. The Index includes bonds from the Treasury, Government-Related, Corporate, Mortgage-Backed Securities (agency fixed-rate and hybrid adjustable-rate mortgage passthroughs), Asset-Backed Securities and Commercial Mortgage-Backed Securities sectors. Securities must be rated investment grade (Baa3/BBB-/BBB- or above) by Moody's, S&P, and Fitch, respectively. When all three agencies rate an issue, a median or "two out of three" rating is used to determine Index eligibility by dropping the highest and lowest rating. When a rating from only two agencies is available, the lower ("most conservative") of the two is used. When a rating from only one agency is available, that rating is used to determine Index eligibility. Please note that all indices are unmanaged and are not available for direct investment.

**Fund Holdings and Sector Allocations are subject to change at any time and are not recommendations to buy or sell any security.

The Brandes Separately Managed Account Reserve Trust Fund may invest in foreign securities, which involve risks such as currency fluctuation and political instability. 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 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.

The Brandes Funds are distributed by Quasar Distributors, LLC.