Investment Capabilities
Mondrian is an active defensive manager. All of our investment products utilize income-oriented value disciplines that have been successfully applied since our founding in 1990.
Equity Philosophy
In the management of equity assets, we invest in securities where rigorous dividend discount analysis identifies value in terms of the long-term flow of income. Dividend yield and future real growth play a central role in our decision making process and over time the dividend component is expected to be a meaningful portion of the expected total return. Our methodology is applied consistently to individual securities across all markets and industries. Mondrian’s investment approach seeks to generate three specific investment benefits:
- An approach that seeks to provide a rate of return meaningfully greater than the client’s domestic rate of inflation
- Client portfolios that aim to preserve capital during protracted global market decline
- Portfolio performance that has been less volatile than the relevant benchmark and most peers in the universe
Fixed Income Philosophy
We invest in global bond markets that best compensate for inflation and sovereign credit risks, measured by a market’s Prospective Real Yield (PRY). We define PRY as the 10-year government bond yield minus Mondrian’s inflation forecast minus Mondrian’s sovereign credit adjustment. Our approach to currency is based on Purchasing Power Parity (PPP) supplemented by our sovereign credit analysis. For non-government sectors, we use our valuation metrics to appraise opportunities in credit sectors, sub-sectors and individual issues.
- For over three decades, our disciplined investment philosophy and process has delivered strong long-term performance with clear characteristics
- Stable, well-resourced team with expert knowledge of our asset classes
- A quantitative-led approach within all of our research areas – inflation, sovereign credit, PPP and corporate credit – provides structure and discipline to our investment process
ESG Integration
At Mondrian, we would consider any security within a given universe if we feel it offers compelling long-term risk-adjusted returns. Mondrian’s long-term, fundamental research process has always demanded that analysts strive to consider all material risks that could influence a security or market’s valuation, including those factors rooted in environmental, social, and governance concerns.
Investment Vehicles
Concentrated China A Equity
- MSCI China A Onshore Index
- Year of inception: 2022
- Benchmark: MSCI EAFE Index
- Year of inception: 1991
- Benchmark: MSCI EAFE Index
- Year of inception: 2009
- Benchmark: MSCI AC World ex-US Index
- Year of inception: 2006
- Benchmark: MSCI China All Shares Index
- Year of inc.: 2019
- Benchmark: MSCI EM ex-China Index
- Year of inception: 2023
- Benchmark: Bloomberg Barclays US Aggregate Index
- Year of inception: 2009
- Benchmark: Bloomberg Barclays World Government Bond Inflation-Linked Bond Index
- Year of inception: 2010
- Benchmark: 80% FTSE World Government Bond Index 20% JP Morgan GBI-EM Global Diversified
- Year of inception: 2007
- Benchmark: Bloomberg Barclays Global Agg. Bond Index
- Year of inception: 2003
- Benchmark: Bloomberg Barclays Global Aggregate Bond ex-US Index
- Year of inception: 2003
- Benchmark: JP Morgan GBI-EM Global Diversified
- Year of inception: 2006
Other Investment Vehicles
Collective Investment Trusts (CITs)
Limited Partnerships
