Brandes International Small Cap Equity Fund

Fund Holdings

Asset Allocation

% Long % Short % Net
Cash 0.28 0.0 0.28
Stocks 1.34 0.0 1.34
Bonds 0.0 0.0 0.0
Other 0.24 0.28 -0.04
Foreign Bonds 0.8 0.0 0.8
Foreign Stocks 97.63 0.0 97.63
Convertible 0.0 0.0 0.0
Preferred 0.0 0.0 0.0

Updated 12.31.2013

Top 10 Holdings

Performance as of 03.31.2014

Portfolio as of 12.31.2013

Ticker YTD Return % % Net Assets
Dorel Industries, Inc. Class B DIIBF -11.03 3.35
Consorcio Ara SAB de CV ARA --- 3.22
Fuji Machine Mfg. FMMFF 1.55 3.1
Chime Communications PLC CICPF 8.52 2.83
Lotte Chilsung Beverage Co Ltd 005300 --- 2.65
Reliance Infrastructure Ltd. RELINFRA --- 2.45
Micronas Semiconductor Holding AG MCNSF 5.74 2.34
Haw Par Corporation Limited HAWPF 2.19 2.33
Bongrain BNGRF 8.25 2.32
Iren S.p.A. IRDEF 23.42 2.27