INVESTMENT CAPABILITIES

Global Debt Opportunities

This strategy invests in treasury, government-related, and corporate bonds from both developed and emerging markets issuers. The strategy is typically benchmarked to a customized blend between the Citigroup World Government Bond Index or JPMorgan Global Government Bond Index and the JPMorgan Global Bond Index – Emerging Markets Global Diversified.

Why Mondrian for Fixed Income?

Some of the longest track records in the industry – also, some of the strongest

*Please refer to www.unpri.org for the Principles for Responsible Investments (“PRI”) assessment methodology. Mondrian’s full Assessment Report and Transparency Report may be requested via the PRI Data Portal.

Performance

As of September 30, 2020

Global Debt Opportunities Composite (USD)

Inception date: September 1, 2007.
Source: Mondrian Investment Partners/FTSE/JPMorgan
*Blended Index: From inception to March 31, 2011, the Portfolio’s investment performance was measured against a blend of the FTSE World Government Bond Index unhedged in U.S. dollars terms (80%) and the JPMorgan GBI-EM Broad Diversified Index (20%). Beginning April 1, 2011 the Portfolio’s investment performance has been measured against JPMorgan Global Government Bond Index unhedged in U.S. dollars terms (80%) and the JPMorgan GBI-EM Broad Diversified Index (20%). From July 1, 2016 to December 31, 2016 the Portfolio’s investment performance was measured against a blend of the JP Morgan Global Government Bond Index unhedged in U.S. dollars terms (80%) and the JP Morgan GBI-EM Global Diversified Index (20%). Effective January 1, 2017, the Portfolio’s investment performance shall be measured against a blend of the FTSE World Government Bond Index (80%) and the JP Morgan GBI-EM Global Diversified Index (20%). FTSE WGBI is formerly Citigroup WGBI.
Past performance is not a guide to future performance. The value of investments and income from then can fall as well as rise and investors may not get back the original amount invested. Performance results marked “Gross” do not reflect deduction of investment advisory fees but are net of transaction costs and withholding tax. Investment returns will be reduced accordingly. Performance returns marked “Net” reflect deduction of investment advisory fees and are calculated by deducting a quarterly indicative fee from the quarterly composite return. Please see important information below.
Periods over 12 months are annualized. 

Portfolio

As of September 30, 2020

Characteristic
Mondrian
Blended Index*
Yield to Maturity (%)
1.3
1.1
Modified Duration (years)
8.3
8.1
Average Maturity (years)
10.1
9.1
Average Credit Rating
AA-
AA-
Number of Issues
97
1,302
Information Ratio
0.85
-
Source: Mondrian Investment Partners/FTSE/JP Morgan
*Blended Index: From inception to March 31, 2011, the Portfolio’s investment performance was measured against a blend of the FTSE World Government Bond Index unhedged in U.S. dollars terms (80%) and the JPMorgan GBI-EM Broad Diversified Index (20%). Beginning April 1, 2011 the Portfolio’s investment performance has been measured against JPMorgan Global Government Bond Index unhedged in U.S. dollars terms (80%) and the JPMorgan GBI-EM Broad Diversified Index (20%). From July 1, 2016 to December 31, 2016 the Portfolio’s investment performance was measured against a blend of the JP Morgan Global Government Bond Index unhedged in U.S. dollars terms (80%) and the JP Morgan GBI-EM Global Diversified Index (20%). Effective January 1, 2017, the Portfolio’s investment performance shall be measured against a blend of the FTSE World Government Bond Index (80%) and the JP Morgan GBI-EM Global Diversified Index (20%). FTSE WGBI is formerly Citigroup WGBI.
Click here for important additional disclosure details of this composite. 

This introductory material is for informational purposes only and is not an offer or solicitation with respect to any securities. Any offer of securities can only be made by written offering materials, which are available solely upon request, on an exclusively private basis and only to qualified financially sophisticated investors residing in jurisdictions consistent with Mondrian’s regulatory authorizations. The information set forth herein is a summary only and does not set forth all of the risks associated with the investment strategy described herein.  
Views expressed were current as of the date indicated, are subject to change, and may not reflect current views. Views should not be considered a recommendation to buy, hold or sell any security and should not be relied on as research or investment advice.
These materials may include forward-looking statements. All statements other than statements of historical facts are forward-looking statements (including words such as “believe,” “estimate,” “anticipate,” “may,” “will,” “should,” “expect”). Although we believe that the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. Various factors could cause actual results or performance to differ materially from those reflected in such forward-looking statements.
Calculations for P/E, P/B, dividend yield, sector country allocations, market caps, yield to maturity, modified duration, average maturity, average quality and country allocations are based on generally accepted industry standards. All characteristics are based on a representative account and derived by first calculating the characteristics for each security, and then calculating the weighted average of these values. The details of exact calculations can be provided upon request. All characteristic data provided is produced using Mondrian’s accounting system data.
There can be no assurance that the investment objectives of the strategy will be achieved.
 
FTSE® is a trademark of the London Stock Exchange Group companies and is used by FTSE under license. All rights in the FTSE indices and / or FTSE ratings vest in FTSE and/or its licensors. Neither FTSE nor its licensors accept any liability for any errors or omissions in the FTSE indices and / or FTSE ratings or underlying data. No further distribution of FTSE Data is permitted without FTSE’s express written consent.
 
Information has been obtained from sources believed to be reliable but J.P. Morgan does not warrant its completeness or accuracy. The Index is used with permission. The Index may not be copied, used or distributed without J.P. Morgan’s prior written approval. Copyright, J.P. Morgan Chase & Co. All rights reserved.
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As a value manager, Mondrian Investment Partners has always believed in conducting analysis that captures all potential material risks and opportunities; understanding and integrating the impacts of ESG factors has therefore consistently been part of our investment process.

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© 2020 Mondrian Investment Partners Limited is authorised and regulated by the Financial Conduct Authority â€“ Firm Reference Number 149507.
All information is as of September 30, 2020 unless otherwise noted.

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