Exhibit
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Exhibit No.
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Instance Document
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EX-101.INS
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Schema Document
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EX-101.SCH
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Calculation Linkbase Document
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EX-101.CAL
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Definition Linkbase Document
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EX-101.DEF
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Label Linkbase Document
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EX-101.LAB
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Presentation Linkbase Document
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EX-101.PRE
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Label | Element | Value | |||||||||||||
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Risk/Return: | rr_RiskReturnAbstract | ||||||||||||||
Risk/Return [Heading] | rr_RiskReturnHeading | Brandes Emerging Markets Fund | |||||||||||||
Objective [Heading] | rr_ObjectiveHeading | Investment Objective | |||||||||||||
Objective, Primary [Text Block] | rr_ObjectivePrimaryTextBlock | The Brandes Emerging Markets Fund (the “Emerging Markets Fund”), formerly named the Brandes Institutional Emerging Markets Fund, seeks long-term capital appreciation. |
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Expense [Heading] | rr_ExpenseHeading | Fees and Expenses of the Fund | |||||||||||||
Expense Narrative [Text Block] | rr_ExpenseNarrativeTextBlock | This table describes the fees and expenses that you may pay if you buy and hold shares of the Emerging Markets Fund. You may qualify for sales charge discounts if you or your family invest, or agree to invest in the future, at least $25,000 in the Brandes Funds. More information about these and other discounts is available from your financial professional and in the section titled “Shareholder Information” on page 38 of the Prospectus and “Additional Purchase and Redemption Information” on page B-77 of the Fund’s Statement of Additional Information. |
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Shareholder Fees Caption [Text] | rr_ShareholderFeesCaption | Shareholder Fees (fees paid directly from your investment) | |||||||||||||
Operating Expenses Caption [Text] | rr_OperatingExpensesCaption | Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) | |||||||||||||
Fee Waiver or Reimbursement over Assets, Date of Termination | rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination | 2014-01-31 | |||||||||||||
Portfolio Turnover [Heading] | rr_PortfolioTurnoverHeading | Portfolio Turnover | |||||||||||||
Portfolio Turnover [Text Block] | rr_PortfolioTurnoverTextBlock | The Emerging Markets Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 28.59% of the average value of its portfolio. |
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Portfolio Turnover, Rate | rr_PortfolioTurnoverRate | 28.59% | |||||||||||||
Expense Breakpoint Discounts [Text] | rr_ExpenseBreakpointDiscounts | You may qualify for sales charge discounts if you or your family invest, or agree to invest in the future, at least $25,000 in the Brandes Funds. | |||||||||||||
Expense Breakpoint, Minimum Investment Required [Amount] | rr_ExpenseBreakpointMinimumInvestmentRequiredAmount | $ 25,000 | |||||||||||||
Expense Example [Heading] | rr_ExpenseExampleHeading | Example | |||||||||||||
Expense Example Narrative [Text Block] | rr_ExpenseExampleNarrativeTextBlock | This Example is intended to help you compare the costs of investing in the Emerging Markets Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (taking into account the contractual expense limitation for 1 year). |
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Expense Example by, Year, Caption [Text] | rr_ExpenseExampleByYearCaption | Although your actual costs may be higher or lower, based on these assumptions your costs would be: | |||||||||||||
Expense Example, No Redemption, By Year, Caption [Text] | rr_ExpenseExampleNoRedemptionByYearCaption | You would pay the following expenses if you did not redeem your Class C shares: | |||||||||||||
Strategy [Heading] | rr_StrategyHeading | Principal Investment Strategies | |||||||||||||
Strategy Narrative [Text Block] | rr_StrategyNarrativeTextBlock | Under normal market conditions, the Emerging Markets Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) measured at the time of purchase in equity securities of companies located in emerging markets. These companies may have market capitalizations of any size. Equity securities include common and preferred stocks, warrants and rights. Emerging markets include some or all of the countries located in each of the following regions: Asia, Europe, Central and South America, Africa and the Middle East. The Advisor considers an emerging market country to be any country which is in the Morgan Stanley Capital International Emerging Markets Index (“MSCI EM Index”) or that, in the opinion of the Advisor, is generally considered to be an emerging market country by the international financial community. Brandes Investment Partners, L.P., the investment advisor (the “Advisor”), uses the principles of value investing to analyze and select equity securities for the Emerging Markets Fund’s investment portfolio. When buying equity securities, the Advisor assesses the estimated “intrinsic” value of a company based on data such as a company’s earnings power, cash flow generation, and/or asset value of the underlying business. By choosing securities that are selling at a discount to the Advisor’s estimates of their share of the company’s intrinsic business value, the Advisor seeks to establish an opportunity for long-term capital appreciation. The Advisor may sell a security when its price reaches a target set by the Advisor, if the Advisor believes that other investments are more attractive, or for other reasons. |
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Risk [Heading] | rr_RiskHeading | Principal Investment Risks | |||||||||||||
Risk Narrative [Text Block] | rr_RiskNarrativeTextBlock | Because the values of the Emerging Markets Fund’s investments will fluctuate with market conditions, so will the value of your investment in the Emerging Markets Fund. You could lose money on your investment in the Emerging Markets Fund, or the Emerging Markets Fund could underperform other investments. Principal risks of the Emerging Markets Fund are as follows:
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Risk Lose Money [Text] | rr_RiskLoseMoney | You could lose money on your investment in the Emerging Markets Fund, or the Emerging Markets Fund could underperform other investments. | |||||||||||||
Bar Chart and Performance Table [Heading] | rr_BarChartAndPerformanceTableHeading | Performance | |||||||||||||
Performance Narrative [Text Block] | rr_PerformanceNarrativeTextBlock | The following performance information provides some indication of the risks of investing in the Emerging Markets Fund. The bar chart below illustrates how the Fund’s total returns have varied from year to year. The table below compares the Fund’s total return over time to a broad-based securities index. The chart and table assume reinvestment of dividends and distributions. Of course, past performance, before and after taxes, does not indicate how the Emerging Markets Fund will perform in the future. Updated performance is available on the Fund’s website www.brandesfunds.com. |
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Performance Information Illustrates Variability of Returns [Text] | rr_PerformanceInformationIllustratesVariabilityOfReturns | The following performance information provides some indication of the risks of investing in the Emerging Markets Fund. | |||||||||||||
Performance Availability Website Address [Text] | rr_PerformanceAvailabilityWebSiteAddress | www.brandesfunds.com | |||||||||||||
Performance Past Does Not Indicate Future [Text] | rr_PerformancePastDoesNotIndicateFuture | Of course, past performance, before and after taxes, does not indicate how the Emerging Markets Fund will perform in the future. | |||||||||||||
Bar Chart [Heading] | rr_BarChartHeading | Brandes Emerging Markets Fund Year-by-Year Total Returns as of December 31, 2012 for Class I Shares* | |||||||||||||
Bar Chart Closing [Text Block] | rr_BarChartClosingTextBlock |
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Highest Quarterly Return, Label | rr_HighestQuarterlyReturnLabel | Best Quarter | |||||||||||||
Highest Quarterly Return, Date | rr_BarChartHighestQuarterlyReturnDate | Jun. 30, 2009 | |||||||||||||
Highest Quarterly Return | rr_BarChartHighestQuarterlyReturn | 43.09% | |||||||||||||
Lowest Quarterly Return, Label | rr_LowestQuarterlyReturnLabel | Worst Quarter | |||||||||||||
Lowest Quarterly Return, Date | rr_BarChartLowestQuarterlyReturnDate | Dec. 31, 2008 | |||||||||||||
Lowest Quarterly Return | rr_BarChartLowestQuarterlyReturn | (26.72%) | |||||||||||||
Index No Deduction for Fees, Expenses, Taxes [Text] | rr_IndexNoDeductionForFeesExpensesTaxes | (reflects no deduction for fees, expenses or taxes) | |||||||||||||
Performance Table Uses Highest Federal Rate | rr_PerformanceTableUsesHighestFederalRate | After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. | |||||||||||||
Performance Table Not Relevant to Tax Deferred | rr_PerformanceTableNotRelevantToTaxDeferred | Actual after-tax returns depend on an investor's tax situation and may differ from those shown, and after-tax returns shown are not relevant to investors who are exempt from tax or hold their Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. | |||||||||||||
Performance Table One Class of after Tax Shown [Text] | rr_PerformanceTableOneClassOfAfterTaxShown | After-tax returns are shown for Class I shares only. After-tax returns for other Classes will vary. | |||||||||||||
Performance Table Closing [Text Block] | rr_PerformanceTableClosingTextBlock | Prior to January 31, 2011, the Fund was a private investment fund managed by the Advisor with policies, guidelines and restrictions that were, in all material respects, equivalent to those of the Fund. Class A and Class I shares commenced operations on January 31, 2011, while Class C shares commenced operations on January 31, 2013. Prior to January 31, 2013, Class A shares were known as Class S shares. (Class A shares have the same operating expenses as Class S shares.) The Class I performance information shown for periods prior to January 31, 2011 is that of the private investment fund managed by the Advisor that is the predecessor of the Fund, not adjusted for Fund expenses. Performance shown prior to January 31, 2011 for Class A shares reflects the performance of the private investment fund shares adjusted to reflect Class A expenses. Performance shown prior to the inception of Class C shares reflects the performance of the private investment fund for periods prior to January 31, 2011 and the performance of Class I shares for the period from February 1, 2011 to January 30, 2013. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to investors who are exempt from tax or hold their Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. After-tax returns are shown for Class I shares only. After-tax returns for other Classes will vary. |
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Caption | rr_AverageAnnualReturnCaption | Brandes Emerging Markets Fund Average Annual Total Returns For periods ending December 31, 2012 | |||||||||||||
MSCI Emerging Markets Index (reflects no deduction for fees, expenses or taxes)
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Risk/Return: | rr_RiskReturnAbstract | ||||||||||||||
Average Annual Returns, 1 Year | rr_AverageAnnualReturnYear01 | 18.63% | |||||||||||||
Average Annual Returns, 5 Years | rr_AverageAnnualReturnYear05 | (0.61%) | |||||||||||||
Average Annual Returns, 10 Years | rr_AverageAnnualReturnYear10 | 16.88% | |||||||||||||
Average Annual Returns, Since Inception | rr_AverageAnnualReturnSinceInception | 7.81% | |||||||||||||
Class A
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Risk/Return: | rr_RiskReturnAbstract | ||||||||||||||
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) | rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice | 5.75% | |||||||||||||
Maximum Deferred Sales Charge (Load) | rr_MaximumDeferredSalesChargeOverOfferingPrice | none | [1] | ||||||||||||
Management Fees | rr_ManagementFeesOverAssets | 0.95% | |||||||||||||
Distribution (12b-1) Fees | rr_DistributionAndService12b1FeesOverAssets | 0.25% | |||||||||||||
Shareholder Servicing Fees | rr_Component1OtherExpensesOverAssets | none | |||||||||||||
Other Expenses | rr_Component2OtherExpensesOverAssets | 0.40% | |||||||||||||
Total Other Expenses | rr_OtherExpensesOverAssets | 0.40% | |||||||||||||
Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 1.60% | |||||||||||||
Less: Fee Waiver and/or Expense Reimbursement | rr_FeeWaiverOrReimbursementOverAssets | (0.23%) | |||||||||||||
Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement | rr_NetExpensesOverAssets | 1.37% | [2] | ||||||||||||
Expenses Deferred Charges [Text Block] | rr_ExpensesDeferredChargesTextBlock | Investments of $1 million or more are not subject to a front-end sales charge but generally will be subject to a deferred sales charge of 1.00% if redeemed within one year from the date of purchase. | |||||||||||||
Expense Example, with Redemption, 1 Year | rr_ExpenseExampleYear01 | 706 | |||||||||||||
Expense Example, with Redemption, 3 Years | rr_ExpenseExampleYear03 | 1,030 | |||||||||||||
Expense Example, with Redemption, 5 Years | rr_ExpenseExampleYear05 | 1,375 | |||||||||||||
Expense Example, with Redemption, 10 Years | rr_ExpenseExampleYear10 | 2,348 | |||||||||||||
Average Annual Returns, 1 Year | rr_AverageAnnualReturnYear01 | 11.83% | |||||||||||||
Average Annual Returns, 5 Years | rr_AverageAnnualReturnYear05 | 3.55% | |||||||||||||
Average Annual Returns, 10 Years | rr_AverageAnnualReturnYear10 | 17.63% | |||||||||||||
Average Annual Returns, Since Inception | rr_AverageAnnualReturnSinceInception | 8.84% | |||||||||||||
Class C
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Risk/Return: | rr_RiskReturnAbstract | ||||||||||||||
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) | rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice | none | |||||||||||||
Maximum Deferred Sales Charge (Load) | rr_MaximumDeferredSalesChargeOverOfferingPrice | 1.00% | [3] | ||||||||||||
Management Fees | rr_ManagementFeesOverAssets | 0.95% | |||||||||||||
Distribution (12b-1) Fees | rr_DistributionAndService12b1FeesOverAssets | 0.75% | |||||||||||||
Shareholder Servicing Fees | rr_Component1OtherExpensesOverAssets | 0.25% | |||||||||||||
Other Expenses | rr_Component2OtherExpensesOverAssets | 0.40% | |||||||||||||
Total Other Expenses | rr_OtherExpensesOverAssets | 0.65% | |||||||||||||
Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 2.35% | |||||||||||||
Less: Fee Waiver and/or Expense Reimbursement | rr_FeeWaiverOrReimbursementOverAssets | (0.23%) | |||||||||||||
Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement | rr_NetExpensesOverAssets | 2.12% | [2] | ||||||||||||
Expense Example, with Redemption, 1 Year | rr_ExpenseExampleYear01 | 315 | |||||||||||||
Expense Example, with Redemption, 3 Years | rr_ExpenseExampleYear03 | 711 | |||||||||||||
Expense Example, with Redemption, 5 Years | rr_ExpenseExampleYear05 | 1,235 | |||||||||||||
Expense Example, with Redemption, 10 Years | rr_ExpenseExampleYear10 | 2,669 | |||||||||||||
Expense Example, No Redemption, 1 Year | rr_ExpenseExampleNoRedemptionYear01 | 215 | |||||||||||||
Expense Example, No Redemption, 3 Years | rr_ExpenseExampleNoRedemptionYear03 | 711 | |||||||||||||
Expense Example, No Redemption, 5 Years | rr_ExpenseExampleNoRedemptionYear05 | 1,235 | |||||||||||||
Expense Example, No Redemption, 10 Years | rr_ExpenseExampleNoRedemptionYear10 | 2,669 | |||||||||||||
Average Annual Returns, 1 Year | rr_AverageAnnualReturnYear01 | 18.98% | |||||||||||||
Average Annual Returns, 5 Years | rr_AverageAnnualReturnYear05 | 5.01% | |||||||||||||
Average Annual Returns, 10 Years | rr_AverageAnnualReturnYear10 | 18.55% | |||||||||||||
Average Annual Returns, Since Inception | rr_AverageAnnualReturnSinceInception | 9.50% | |||||||||||||
Class I
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Risk/Return: | rr_RiskReturnAbstract | ||||||||||||||
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) | rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice | none | |||||||||||||
Maximum Deferred Sales Charge (Load) | rr_MaximumDeferredSalesChargeOverOfferingPrice | none | |||||||||||||
Management Fees | rr_ManagementFeesOverAssets | 0.95% | |||||||||||||
Distribution (12b-1) Fees | rr_DistributionAndService12b1FeesOverAssets | none | |||||||||||||
Shareholder Servicing Fees | rr_Component1OtherExpensesOverAssets | none | |||||||||||||
Other Expenses | rr_Component2OtherExpensesOverAssets | 0.45% | |||||||||||||
Total Other Expenses | rr_OtherExpensesOverAssets | 0.45% | |||||||||||||
Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 1.40% | |||||||||||||
Less: Fee Waiver and/or Expense Reimbursement | rr_FeeWaiverOrReimbursementOverAssets | (0.28%) | |||||||||||||
Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement | rr_NetExpensesOverAssets | 1.12% | [2] | ||||||||||||
Expense Example, with Redemption, 1 Year | rr_ExpenseExampleYear01 | 114 | |||||||||||||
Expense Example, with Redemption, 3 Years | rr_ExpenseExampleYear03 | 416 | |||||||||||||
Expense Example, with Redemption, 5 Years | rr_ExpenseExampleYear05 | 739 | |||||||||||||
Expense Example, with Redemption, 10 Years | rr_ExpenseExampleYear10 | $ 1,656 | |||||||||||||
Annual Return 2003 | rr_AnnualReturn2003 | 76.17% | |||||||||||||
Annual Return 2004 | rr_AnnualReturn2004 | 31.66% | |||||||||||||
Annual Return 2005 | rr_AnnualReturn2005 | 22.17% | |||||||||||||
Annual Return 2006 | rr_AnnualReturn2006 | 27.42% | |||||||||||||
Annual Return 2007 | rr_AnnualReturn2007 | 18.89% | |||||||||||||
Annual Return 2008 | rr_AnnualReturn2008 | (47.80%) | |||||||||||||
Annual Return 2009 | rr_AnnualReturn2009 | 113.82% | |||||||||||||
Annual Return 2010 | rr_AnnualReturn2010 | 18.24% | |||||||||||||
Annual Return 2011 | rr_AnnualReturn2011 | (18.68%) | |||||||||||||
Annual Return 2012 | rr_AnnualReturn2012 | 18.98% | |||||||||||||
Average Annual Returns, 1 Year | rr_AverageAnnualReturnYear01 | 18.98% | |||||||||||||
Average Annual Returns, 5 Years | rr_AverageAnnualReturnYear05 | 5.01% | |||||||||||||
Average Annual Returns, 10 Years | rr_AverageAnnualReturnYear10 | 18.55% | |||||||||||||
Average Annual Returns, Since Inception | rr_AverageAnnualReturnSinceInception | 9.50% | |||||||||||||
Class I | After Taxes on Distributions
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Risk/Return: | rr_RiskReturnAbstract | ||||||||||||||
Average Annual Returns, 1 Year | rr_AverageAnnualReturnYear01 | 18.29% | |||||||||||||
Average Annual Returns, 5 Years | rr_AverageAnnualReturnYear05 | 4.84% | |||||||||||||
Average Annual Returns, 10 Years | rr_AverageAnnualReturnYear10 | 18.45% | |||||||||||||
Average Annual Returns, Since Inception | rr_AverageAnnualReturnSinceInception | 9.45% | |||||||||||||
Class I | After Taxes on Distributions and Sale of Fund Shares
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Risk/Return: | rr_RiskReturnAbstract | ||||||||||||||
Average Annual Returns, 1 Year | rr_AverageAnnualReturnYear01 | 13.25% | |||||||||||||
Average Annual Returns, 5 Years | rr_AverageAnnualReturnYear05 | 4.32% | |||||||||||||
Average Annual Returns, 10 Years | rr_AverageAnnualReturnYear10 | 17.01% | |||||||||||||
Average Annual Returns, Since Inception | rr_AverageAnnualReturnSinceInception | 8.68% | |||||||||||||
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