The US dollar is extremely overvalued and if history is any guide it is poised for a substantial multi-year fall. According to our Purchasing Power Parity (PPP) valuations, it is now overvalued against every major currency in the world.
The US dollar is extremely overvalued and if history is any guide it is poised for a substantial multi-year fall. According to our Purchasing Power Parity (PPP) valuations, it is now overvalued against every major currency in the world.
Since the Global Financial Crisis (“GFC”) in 2008, the composition of the emerging market (“EM”) equity index has been through considerable change.
Energy has been the worst performing sector in MSCI EAFE this year. So why do we believe there is long-term value in this sector?
The past decade has been a challenging period for value investors: record low interest rates and structural changes in the economy have caused investors to shun value stocks in favor of growth stocks.
Halfway through 2020, the world remains in the grip of a global pandemic, an economic shock of unprecedented scope and magnitude. Investors’ initial response was a flight to safety. …
Growth-oriented investments in equity markets have significantly outperformed value since the financial crisis.
Clive Gillmore, Group CIO and CEO recently joined a panel of experts to discuss geographical opportunities, long term ESG potential, and the impact of trade wars on global markets.
As a long-term value manager Mondrian Investment Partners has always believed in carrying out analysis which captures all potential material risks and opportunities; understanding and integrating the impacts of ESG factors has therefore consistently been part of our long-term modeling.
As a result of our thorough bottom-up analysis and incorporating all a variety of factors into our long-term dividend discount valuation, we concluded the stock was significantly undervalued with an attractive skew of returns and a reasonable worst case scenario.
Nearly a decade into an economic recovery marked by low yields and stock market volatility, wary investors are still struggling with where to allocate portfolio assets for stable, long-term returns.
Since the US stock market has outperformed international equities for nearly a decade, some investors may falsely believe that owning non-US stocks no longer offers the performance-enhancing advantage it once did.
Investors tend to overpay for growth when interest rates are held artificially low and monetary policy floods the markets with liquidity.
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.
Over the past couple of decades, Emerging Markets Debt (EMD) has matured into a large, diverse and growing asset class. We believe not only is the case for a long term strategic allocation to EMD compelling but the tactical case, given current valuations, suggests that the time is now ripe for entry.
© 2021 Mondrian Investment Partners Limited is authorised and regulated by the Financial Conduct Authority – Firm Reference Number 149507.
All information is as of December 31, 2020 unless otherwise noted.
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