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 Fund invests in international markets that offer high income in real (inflation-adjusted) terms, measured by a market’s Prospective Real Yield (PRY). We define PRY as the 10 year government bond yield minus Mondrian’s inflation forecast.
The investment objective of the Fund is to seek long-term total return consistent with its value-oriented investment approach.
Ticker
Net Expense Ratio*
Gross Expense Ratio
Sales Charge
Inception Date
MPIFX
0.60%
1.02%
None
11/02/2007
Benchmark
Minimum Initial Investment
Minimum Subsequent Investment
CUSIP
FTSE non-US WGBI Index
$50,000
$100
36381Y306
CIO Global Fixed Income and Currency
Years with Mondrian: 18
Years with Industry: 27
Mr. Wakefield joined Mondrian in 2001. He took both a BSc and an MSc in Economics from the University of Warwick. Prior to joining Mondrian, Mr. Wakefield was an economic adviser to the Monetary Policy Committee of the Bank of England, and formerly an economic adviser to the UK Treasury Department, specializing in inflation forecasting in both positions. At Mondrian, he is the team’s Chief Investment Officer and chairs the Global Fixed Income and Currency Committee meetings, where he utilizes his extensive inflation forecasting experience. Mr. Wakefield is a CFA Charterholder and is a member of the CFA Institute.
Senior Portfolio Manager
Years with Mondrian: 12
Years with Industry: 18
Mr. Day joined the Mondrian Global Fixed Income & Currency Team in 2007. Prior to this, Mr. Day worked in actuarial consulting, specializing in the development of stochastic asset and liability models for UK pension schemes at Buck Consultants. At Mondrian, Mr. Day has a quantitative research focus and is responsible for the continuing development of the company’s proprietary inflation and mortgage backed securities models. Mr. Day has a BSc in Economics with Actuarial Studies from the University of Southampton and is a Fellow of the Institute of Actuaries.
Mondrian International Government Fixed Income Fund (USD)
Mondrian International Government Fixed Income Fund (USD)
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Mondrian International Government Fixed Income Fund (USD)
Mondrian International Government Fixed Income Fund (USD)
Mondrian International Government Fixed Income Fund (USD)
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.
Mondrian’s CEO/Group CIO, Clive Gillmore, was one of three featured presenters on P&I’s Managing Volatility Amid the Coronavirus webinar in early May. The panelists discussed the recent spike in the markets and economic volatility, what investors might expect for the long term and the implications of corporate bailouts for investors.
This website is intended for persons in the United States only.
To determine if the Fund is an appropriate investment for you, carefully consider the Fund’s investment objectives, risk, and charges and expenses. This and other information can be found in the Fund’s full and summary prospectus which can be obtained by calling 888-832-4386 or by visiting www.mondrian.com/mutualfunds. Please read the prospectus carefully before investing.
Investing involves risk, including the possible loss of principal. International investments entail risks not ordinarily associated with U.S. investments including fluctuation in currency values, differences in accounting principles, or economic or political instability in other nations. Emerging markets involve heightened risks related to the same factors, as well as increased volatility and lower trading volume. In addition to the normal risks associated with investing, investments in smaller companies typically exhibit higher volatility. Concentration in infrastructure-related securities involves sector risk and concentration risk, particularly greater exposure to adverse economic, regulatory, political, legal, liquidity, and tax risks associated with MLPs and REITs. The Fund may invest in derivatives, which are often more volatile than other investments and may magnify the Fund’s gains or losses.
The Mondrian Investment Partners Limited Funds are distributed by SEI Investments Distribution Co. (SIDCO). SIDCO is not affiliated with the advisor, Mondrian Investment Partners Limited.
The FTSE non-US Dollar World Government Bond Index A market capitalization index that measures the total rate of return performance for the government bonds of 22 countries, excluding the U.S., with a remaining maturity of at least 1 year.
© 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.
Mr. Wakefield joined Mondrian in 2001. He took both a BSc and an MSc in Economics from the University of Warwick. Prior to joining Mondrian, Mr. Wakefield was an economic adviser to the Monetary Policy Committee of the Bank of England, and formerly an economic adviser to the UK Treasury Department, specializing in inflation forecasting in both positions. At Mondrian, he is the team’s Chief Investment Officer and chairs the Global Fixed Income and Currency Committee meetings, where he utilizes his extensive inflation forecasting experience. Mr. Wakefield is a CFA Charterholder and is a member of the CFA Institute.
Mr. Day joined the Mondrian Global Fixed Income & Currency Team in 2007. Prior to this, Mr. Day worked in actuarial consulting, specializing in the development of stochastic asset and liability models for UK pension schemes at Buck Consultants. At Mondrian, Mr. Day has a quantitative research focus and is responsible for the continuing development of the company’s proprietary inflation and mortgage backed securities models. Mr. Day has a BSc in Economics with Actuarial Studies from the University of Southampton and is a Fellow of the Institute of Actuaries.
Weighted Average Market Cap – The portfolio-weighted average market capitalizations of all equity securities.
Portfolio Turnover – A measure of how frequently assets within a fund are bought and sold by the managers.
Price-to-Earnings – The Price to Earnings Ratio is a stock’s current price divided by the company’s trailing 12-month earnings per share from continuous operations.
Price-to-Book – The Price to Book Ratio links the stock/share price of a company with the book or accounting value of shareholders’ equity per share.
Dividend Yield – The Dividend Yield is the portfolio-weighted average of the annualized gross dividend per share figure of all portfolio holdings.
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United States