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
Investment Vehicles
- Separate Account
- Commingled Vehicle
- US Mutual Fund
- UCITS
- Managed Account
International Equities
International Equity
Benchmark: MSCI EAFE Index · Year of inception: 1991
International Equity ESG
Benchmark: MSCI EAFE Index · Year of inception: 2016
Focused International Equity
Benchmark: MSCI EAFE Index · Year of inception: 2000
All Countries World ex US
Benchmark: MSCI EAFE Index · Year of inception: 1991
International Equity ADR (SMA)
Benchmark: MSCI EAFE Index · Year of inception: 2009
Focused All Countries World ex US
Benchmark: MSCI AC World ex-US Index · Year of inception: 2006
Global Equities
Global Equity
Benchmark: MSCI EAFE Index · Year of inception: 1991
Global Equity ESG
Benchmark: MSCI EAFE Index · Year of inception: 2019
Global All Countries World
Benchmark: MSCI AC World Index · Year of inception: 2002
U.S. Large Cap Equity
Benchmark: Russell 1000 Value Index · Year of inception: 2006
Emerging Markets Equities
Emerging Markets
Benchmark: MSCI EM Index · Year of inception: 1996
China Concentrated Equity
Benchmark: MSCI China All Shares Index · Year of inc.: 2019
Emerging Markets ADR
Benchmark: MSCI EM Index · Year of inception: 2019
Emerging Markets ESG
Benchmark: MSCI EM Index · Year of inception: 2021
Emerging Markets Ex-China
Benchmark: MSCI EM ex-China Index · Year of inception: 2023
Small Caps
International Small Cap
Benchmark: MSCI World ex-US SC Index · Year of inception: 1998
Emerging Markets Small Cap
Benchmark: MSCI EM Small Cap Index · Year of inception: 2011
Fixed Income
U.S. Core Fixed Income
Benchmark: Bloomberg Barclays US Aggregate Index
Year of inception: 2009
Global Fixed Income
Benchmark: FTSE World Government Bond Index
Year of inception: 1991
Global Inflation Linked
Benchmark: Bloomberg Barclays World Government Bond Inflation-Linked Bond Index · Year of inception: 2010
Global Debt Opportunities
Benchmark: 80% FTSE World Government Bond Index 20% JP Morgan GBI-EM Global Diversified · Year of inception: 2007
Global Aggregate
Benchmark: Bloomberg Barclays Global Agg. Bond Index
Year of inception: 2003
International Aggregate
Benchmark: Bloomberg Barclays Global Aggregate Bond ex-US Index · Year of inception: 2003
Global Green Bonds
Benchmark: Bloomberg Barclays MSCI Green Bond Index · Year of inception: 2020
Emerging Markets Local Currency Debt
Benchmark: JP Morgan GBI-EM Global Diversified
Year of inception: 2006
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Vehicle Type
Investment Capability
Investment Vehicles
- Benchmark: MSCI EAFE Index
- Year of inception: 2000
- 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: FTSE World Government Bond Index
- Year of inception: 1991
- 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)
CITs are similar to mutual funds, but have different fee structures and reporting requirements. CITs are a form of a bank trust and are only available to qualified pension plans in the US.
Limited Partnerships
We make most of our investment strategies available in privately offered institutional limited partnerships, which are a form of commingled or pooled funds.
Canadian Fund
Vehicles specific for Canadian investors are available for select strategies.