Watch as Andrew Miller, CIO-Emerging Markets Equities, provides an outlook for emerging markets including views on China shareholder returns, current portfolio positioning and where we see opportunities going forward.
Senior Portfolio Manager, Nigel Bliss, reviews how the market and portfolio performed, including stand-out holdings, and our outlook in this quarterly update video.
Watch as Andrew Miller, CIO-Emerging Markets Equities, provides an outlook for emerging markets including views on China shareholder returns, current portfolio positioning and where we see opportunities going forward.
Central to Mondrian’s fixed income process is a measure called the Prospective Real Yield (PRY). A market’s PRY is defined as its 10-year government bond yield minus our proprietary inflation forecast for that market and sovereign credit risk.
China’s economic challenges have been well documented. The hoped for economic rally following the opening up of the country post the almost three years of Covid disruption has failed to materialize.
The most recent IMF forecasts for world growth estimate 3% real GDP growth for this year and next year, with the US economy avoiding a recession. While projected global growth is low against pre-pandemic history, most investors would be relieved to escape that easily.
Mondrian is an employee owned investment management firm with offices in London, Philadelphia and Singapore. We are value investors across the globe in both equity and fixed income asset classes. Founded in 1990, we have employed a rigorous fundamental research process that is the foundation of our success. Mondrian’s well resourced investment team manages assets on behalf of over 250 institutional clients.
© 2025 Mondrian Investment Partners Limited is authorized and regulated by the Financial Conduct Authority – Firm Reference Number 149507. All information is as of December 31, 2023 unless otherwise noted.
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