Brandes
Brandes IP Global Equity Strategy
Jul 2026 → Sep 2026
Our archive holds 2 letters from this strategy, behind 5 investment theses and positions in 27 companies. Every quote below is copied verbatim from the letter it came from.
2 letters in a year — follow all of Brandes for every strategy.
Performance
as of Mar 31, 2026 · net of fees · USD · Brandes Global Equity Composite (net)
- 1Y+22.3%index +18.9%
- 5Y · /yr+13.2%index +10.3%
- 10Y · /yr+11.3%index +11.8%
- Inception · /yr+12.6%index +10.1%
Index: MSCI World Index
| 1Y | 5Yper year | 10Yper year | Since inceptionper year | |
|---|---|---|---|---|
| Brandes IP Global Equity Strategy | +22.3% | +13.2% | +11.3% | +12.6% |
| MSCI World Index | +18.9% | +10.3% | +11.8% | +10.1% |
Disclaimer
These figures are copied from the manager’s latest letter, as of Mar 31, 2026. They were extracted automatically, have not been verified by HF Best Ideas and may contain errors. They cover a single share class, in the currency and fee basis stated above; other share classes and your own returns will differ. This is not investment advice, nor an offer to buy or sell any fund. Past performance does not predict future returns.
Read full disclosures →What it bought and sold
During the quarter, we initiated positions in India-based HDFC Bank, France-based luxury goods company LVMH, and U.S.-based companies Omnicom Group and Intercontinental Exchange.
During the quarter, we initiated positions in India-based HDFC Bank, France-based luxury goods company LVMH, and U.S.-based companies Omnicom Group and Intercontinental Exchange.
During the quarter, we initiated positions in India-based HDFC Bank, France-based luxury goods company LVMH, and U.S.-based companies Omnicom Group and Intercontinental Exchange.
We also exited China-based Topsports International as changes in our assessment of its risk-reward profile made other opportunities more attractive.
- AddedSAP SESep 2026
We added to the position earlier in the year when investors were more focused on disruption risk.
During the quarter, we initiated positions in India-based HDFC Bank, France-based luxury goods company LVMH, and U.S.-based companies Omnicom Group and Intercontinental Exchange.
Also held
Its investment theses
- SAP SESep 2026SAP SE offers mission-critical enterprise software with high switching costs and cloud/AI adoption that may strengthen its installed base.
- HDFC BankSep 2026HDFC Bank is India's largest private bank with a strong deposit franchise, high asset quality and recovery potential after merger-related pressure.
- LVMH Moet Hennessy Louis Vuitton SESep 2026LVMH Moet Hennessy Louis Vuitton SE owns exceptional luxury brands with strong distribution and recovery potential at an attractive valuation.
- Omnicom Group Inc.Sep 2026Omnicom Group Inc. has greater scale and improved capabilities after the Interpublic deal, with attractive valuation and cash generation.
- Intercontinental Exchange, Inc.Sep 2026Intercontinental Exchange, Inc. combines exchange, data and mortgage-tech businesses with network effects, recurring revenue and strong free cash flow.