Brandes Separately Managed Account Reserve Trust
Data updated: 2024-08-27
C000016693 — Brandes Separately Managed Account Reserve Trust. Intermediate Corporate Bond · $160.03M AUM. Holdings, fees, performance and SEC filings.
C000016693 Fund Overview
Brandes Separately Managed Account Reserve Trust is a US mutual fund managed by Brandes Investment Trust, categorised as Intermediate Corporate Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Brandes Investment Trust
- Category: Intermediate Corporate Bond
- Assets under management: $160.03M
- 1-year return: 8.0%
- SEC CIK: 0000926678
- SEC series ID: S000006075
- Share class ID: C000016693
C000016693 Investment Objective and Strategy
Brandes Separately Managed Account Reserve Trust describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Brandes Investment Trust.
Investment objective
The Separately Managed Account Reserve Trust (the Fund) seeks to maximize long-term total return.
Principal investment strategy
The Fund invests primarily in a diversified portfolio of debt securities. These include debt obligations issued or guaranteed by the U.S. Government and foreign governments and their agencies and instrumentalities, debt securities issued by U.S. and foreign companies, collateralized mortgage obligations, and U.S. and foreign mortgage-backed and asset-backed debt securities. The Fund may invest up to 60% of its total assets in non-U.S. dollar securities, and may engage in currency hedging. Brandes Investment Partners, L.P., the investment advisor to the Fund (the Advisor), uses the principles of value investing to analyze and select debt securities for the Funds investment portfolio. As part of this process, the Advisor reviews such measures as the issuers free cash flow, debt-to-equity ratio, earnings before interest, taxes, depreciation and amortization (EBITDA)-to-interest ratio, debt-to-EBITDA ratio, or other measures of credit worthiness in evaluating the securities of a particular issuer.
The Fund may invest in debt instruments of any maturity or with no maturity and it may invest in both investment-grade securities and non-investment grade securities (also known as high-yield bonds or junk bonds). (Up to 60% of the Fund s total debt securities may be junk bonds.) The Fund invests in debt securities that can be purchased at prices or yield premiums over U.S. Treasury securities (or other relatively risk free securities) which the Advisor believes to be attractive based on the Advisors assessment of each securitys intrinsic value. The Advisor will typically sell a security from the Funds portfolio when the Advisors research process identifies a significantly better investment opportunity. The Advisor may also sell certain portfolio securities from time to time in order to adjust the average maturity, duration or yield of the Funds portfolio or to meet requirements for redemption of Fund shares.
C000016693 Holdings
Top 10 holdings of Brandes Separately Managed Account Reserve Trust by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Northern Inst Fds | 9.63% |
| United States Treasury Bonds | 7.53% |
| United States Treasury Bonds | 5.90% |
| United States Treasury Bonds | 4.97% |
| USB Capital IX | 4.43% |
| Bank of America Corp. | 3.76% |
| Citigroup Inc. | 3.32% |
| United States Treasury Notes | 3.15% |
| Range Resources Corp. | 3.06% |
| Prime Securities Services Borrower, LLC and Prime Finance, Inc. | 3.02% |
C000016693 Portfolio Allocation
Asset-class allocation of Brandes Separately Managed Account Reserve Trust by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Fixed Income | 82.4% |
| Cash & Equivalents | 9.6% |
| Securitized | 7.3% |
C000016693 Performance
Total returns for C000016693 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 8.0% |
| 3 years (annualised) | 0.4% |
| 5 years (annualised) | 2.0% |
C000016693 Risk Information
Risk metrics for C000016693, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 7.2%
C000016693 Costs and Fees
C000016693 costs about $0 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.00%
- Gross expense ratio: 0.00%
- Portfolio turnover: 23%
- Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)
C000016693 Cashflows
Over the 12 months to 2024-06, Brandes Separately Managed Account Reserve Trust had net inflows of $30.11M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2024-06 | $1.47M |
| 2024-05 | $502.61K |
| 2024-04 | $3.19M |
| 2024-03 | −$1.02M |
| 2024-02 | −$4.90M |
| 2024-01 | −$1.40M |
C000016693 Debt Constituents
Largest debt holdings of Brandes Separately Managed Account Reserve Trust by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| United States Treasury Bonds | 7.53% |
| United States Treasury Bonds | 5.90% |
| United States Treasury Bonds | 4.97% |
| USB Capital IX | 4.43% |
| Bank of America Corp. | 3.76% |
| Citigroup Inc. | 3.32% |
| United States Treasury Notes | 3.15% |
| Range Resources Corp. | 3.06% |
| Prime Securities Services Borrower, LLC and Prime Finance, Inc. | 3.02% |
| Netflix, Inc. | 2.97% |
C000016693 Prospectus and SEC Filings
Official Brandes Separately Managed Account Reserve Trust filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2024-01-25
- Prospectus (485BPOS) — filed 2023-01-27
- Prospectus (485BPOS) — filed 2022-01-28
- Portfolio holdings (N-PORT) — filed 2024-08-27
- Portfolio holdings (N-PORT) — filed 2024-05-28
- Portfolio holdings (N-PORT) — filed 2024-02-26
- Annual census (N-CEN) — filed 2023-12-14
- Annual census (N-CEN) — filed 2022-12-14
Related Funds
Other Intermediate Corporate Bond funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.