Investment Objective
The Fund seeks to outperform the MSCI All-Country World Free Index over a full market cycle while maintaining below benchmark
risk. The goal is to purchase the best global value opportunities without bias to countries and industries. The Fund will attempt to
invest in stocks of businesses which have determinable value, but which are unpopular or overlooked or undervalued at the moment.
The Sub-Advisor
Brandes Investment Partners, L.P. (BIP) was founded in 1974 and is based in San Diego. BIP manages over $56.8 billion in
assets. Templeton Portfolio Advisors (TPA) was founded in 1940 and currently manages assets over $1.4 billion¹. They are
currently based in San Mateo, CA.
Sector Allocation Brandes
SECTOR
% PORTFOLIO
Telecommunication
25.4
Financials
19.4
Information Technology
15.3
Health Care
9.9
Consumer Discretionary
7.8
Consumer Staples
6.7
Energy
5.9
Materials
3.1
Industrials
2.2
Miscellaneous Equity
2.2
Other
2.1
Sector Allocation Templeton
SECTOR
% PORTFOLIO
Miscellaneous Equity
13.9
Health Care
13.3
Financials
13.3
Information Technology
12.8
Energy
9.6
Telecommunication
9.2
Consumer Discretionary
8.5
Industrials
5.7
Other
5.6
Consumer Staples
4.8
Cash Equivalents
3.3
Note: The underlying data has been obtained from sources considered to be reliable but its accuracy and completeness cannot be assured. This evaluation is for informational purposes only and is not intended to be an offer,
solicitation, or recommendation with respect to the purchase or sale of any security or a recommendation of the services supplied by any money management organization. Past performance is not a guarantee of future results.
* The Annual Return represents the fund’s actual return net of all monthly fees and expenses.
¹ AUM as of September 30, 2009.
