MONDRIAN
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Featured Insights
International Equity Investment Outlook – Q1 2025
Over the past decade, the European equity market has significantly lagged behind its U.S. counterpart. This underperformance was particularly pronounced in the final quarter of 2024, in the immediate aftermath of the U.S. election.
Global Equity Investment Outlook – Q1 2025
In contrast to many commentators, we increasingly think Europe is a very interesting market. Expectations have generally been compressed by a pretty weak economic backdrop and an extended period of equity market underperformance.
Emerging Markets Investment Outlook – Q1 2025
Q1 2025 saw Emerging Markets (EM) rise 3% in a volatile quarter dominated by geopolitical concerns and trade tariff headlines. Amongst large markets, China was the standout performer, rising 15%.
Local Currency EMD Offers Excellent Value
According to our valuation standards, Local Currency EMD benefits from high PRYs and attractive currency valuations while Hard Currency EMD is tainted by very low credit spreads and an overvalued US dollar.
International Equities
International Equity Investment Outlook – Q1 2025
Over the past decade, the European equity market has significantly lagged behind its U.S. counterpart. This underperformance was particularly pronounced in the final quarter of 2024, in the immediate aftermath of the U.S. election.
Video: International Equities Update – Q4 2024
Watch as Senior Portfolio Manager, Nigel Bliss, reviews the case for international equity investing, considering current valuations and the compelling opportunities available outside the US.
International Equity Investment Outlook – Q4 2024
Increasingly, many investors are questioning the need to allocate capital to non-US equities. This raises a crucial question: are there compelling reasons to diversify internationally? In this paper, we will explore the arguments for investing in markets outside the US.
Global Equities
Global Equity Investment Outlook – Q1 2025
In contrast to many commentators, we increasingly think Europe is a very interesting market. Expectations have generally been compressed by a pretty weak economic backdrop and an extended period of equity market underperformance.
Global Equity Investment Outlook – Q4 2024
The recent performance of equity markets has been marked by a stark divergence between the US and the rest of the world, significantly inflating the premium attached to US equities.
Global Equity Investment Outlook – Q3 2024
The recent swings in equity markets have prompted some to question the Japanese equity market renaissance. In this article, we explore the reasoning behind our stance on Japan and assess whether any recent developments have shifted our perspective.
Emerging Markets Equities
Emerging Markets Investment Outlook – Q1 2025
Q1 2025 saw Emerging Markets (EM) rise 3% in a volatile quarter dominated by geopolitical concerns and trade tariff headlines. Amongst large markets, China was the standout performer, rising 15%.
Year End Emerging Markets Review and Outlook
While emerging markets face an uncertain economic and political landscape, we remain optimistic about long-term prospects, especially in undervalued markets.
China A-Shares: Why Now?
The last 15 years have been challenging for EM returns, especially when compared to the MSCI World Index, and even more so versus the S&P 500. However, there are several compelling reasons to consider EM equities.
Small Caps
Mondrian’s Purchasing Power Parity (PPP) Approach
Mondrian’s Purchasing Power Parity method (PPP) provides a consistent measure of value across all currencies – a process we have employed since the founding of our firm in 1990.
Video: Why Emerging Markets Small Cap
Head of Emerging Markets Small Cap, Graeme Coll, discusses the opportunities in the asset class, including how a large and relatively under-researched universe of stocks creates significant potential for active management to generate alpha.
Emerging Markets Small Cap Investment Outlook – Q4 2023
We believe an environment of protracted modest global growth drives the search for yield and investments providing growth. This favors investments in an inefficient asset class such as emerging markets small cap which offers structural growth.
Fixed Income
Video: US Dollar Overvaluation – A Historical Perspective
Watch as Senior Portfolio Manager, Matt Day, explores the overvaluation of the US Dollar from a historical perspective.
Local Currency EMD Offers Excellent Value
According to our valuation standards, Local Currency EMD benefits from high PRYs and attractive currency valuations while Hard Currency EMD is tainted by very low credit spreads and an overvalued US dollar.
Video: Global Disinflation Continues
In this video, Senior Portfolio Manager Matt Day explores how disinflation is shaping the global economy in 2024.
News & Announcements
Mondrian Wins Equities Manager of the Year: Pensions Age Awards
We are proud to share that we have been awarded Equities Manager of the Year at the 2025 Pensions Age Awards.