On June 7, 2016 an error was identified in the calculation of the daily price or net asset value (NAV) of the Brandes Global Small Cap Equity Fund. This error affected all transactions in the Fund with a trade date of June 7, 2016. No other transactions were impacted by this error. The miscalculation was the result of an administrative error by our fund valuation service provider.
On June 8, 2016 the error was corrected and NAV restated. All impacted unitholder accounts were corrected on June 8, 2016. Bridgehouse contacted each impacted dealer and representative to inform of the error and its correction. The impacted series are as follows:
|
Brandes Global Small Cap Equity Fund |
||
|
Fund Code |
Incorrect NAV ($) |
Revised NAV ($) |
|
BGSF D |
20.7298 |
12.908 |
|
BGSF A,B,C |
36.8313 |
22.934 |
|
BGSF F |
41.1774 |
25.641 |
|
BGSF I |
44.9980 |
28.020 |
|
BGSF L |
39.2702 |
24.453 |
|
BGSF M |
26.9647 |
16.791 |
|
BGSK K |
20.4560 |
12.738 |
Bridgehouse is currently working with our service provider to identify the cause of the error and to implement steps to prevent future errors. Bridgehouse is also reviewing our policies and procedures to ensure sufficient oversight measures are in place.
We apologize for this error and any inconvenience it may have caused. If you have any questions about your account, please contact our client service team at 866-791-8367.
Carol Lynde
President & COO
