Mondrian’s international team since 2014, replaced Platt as comanager on the fund. The managers combine in-depth research of individual companies with top-down evaluations of country factors and currency levels. Currency levels are primarily used to inform company evaluations; active currency hedging is rare. The team’s longterm focus shows in the fund’s annual turnover rate, which is consistently lower than 30%. By putting an emphasis on companies that are healthy and well-positioned enough to consistently pay decent dividends, the managers aim to build a portfolio that can withstand market turmoil better than most competitors and indexes do. The fund has typically lost less than its average peer and relevant indexes in market declines, as shown by its downside-capture ratios for the five- and 10- year periods through Oct. 31, 2019. (True to form, it lost less than the foreign large-value Morningstar Category average in the fourth quarter of 2018.) Although it tends to lag in in strong rallies, it should continue to outperform overall, especially versus the category and value indexes.
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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.