US MUTUAL FUNDS

Emerging Markets Value Equity Fund

Our emerging markets equity strategy dates back to 1996 and has utilized the same philosophy and process described below. In total, we manage over $7 billion in emerging markets assets.

Fund Objective

The Mondrian Emerging Markets Value Equity Fund (formerly Mondrian Emerging Markets Equity Fund) seeks long-term capital appreciation.

Fund Overview

Ticker MPEMX
Net Expense Ratio* 0.92%
Gross Expense Ratio 1.51%
Sales Charge None
Inception Date 11/02/2007
Benchmark MSCI Emerging Markets
Minimum Initial Investment $50,000
Minimum Subsequent Investment $100
CUSIP 36381Y207
Effective March 1, 2019, The Fund changed its name to the Mondrian Emerging Markets Value Equity Fund (formerly Mondrian Emerging Markets Equity Fund), the ticker to MPEMX (formerly LEMNX) and the minimum initial investment to $50,000 (formerly $1 million).
The Fund was previously the Laudus Mondrian Emerging Markets Fund and was reorganized into the Mondrian Emerging Markets Equity Fund effective September 24, 2018. The Fund continues to be managed in the same way.
*Effective September 24, 2018, Mondrian Investment Partners Limited (the “Advisor”) has contractually agreed to waive fees and reimburse expenses to the extent necessary to keep Total Annual Fund Operating Expenses (excluding interest, taxes, brokerage commissions, acquired fund fees and expenses and non-routine expenses from exceeding 0.92% of the Fund’s average daily net assets until February 28, 2027

Literature

Fact Sheet
Investment Outlook
Fund Holdings
2024 Capital Gains

Management Team

Asset management at Mondrian is carried out by a well-resourced, highly experienced and stable group of approximately 52 investment professionals in our London office. All of our investment staff work in a team structure and share a common investment philosophy and process.

Our Emerging Markets Equity Team is responsible for the management of the Mondrian Emerging Markets Value Equity Mutual Fund. Under the leadership of CIO Andrew Miller, seven seasoned professionals work together in a collegial environment utilizing income-oriented value disciplines that have been successfully applied for over two decades.

Within this broader team structure, the named portfolio managers below are primarily involved in the management of the Mondrian Emerging Markets Value Equity Fund.

Named Portfolio Managers

value investing

Andrew Miller

CIO Emerging Markets Equities, Managing Partner
equity growth

Ginny Chong

Head of Chinese Equities, Senior Portfolio Manager

Daniel Kelly

Senior Portfolio Manager, Partner

Performance

As of June 30, 2025

Annualized

Returns are annualized for periods over 1 year.
Fund Inception November 2, 2007.
The performance data quoted represents past performance. Past performance is no guarantee of future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost and current performance may be lower or higher than performance quoted. For performance data current to the most recent month end, please call 888-832-4386. NAV returns since inception of November 2nd, 2007 when the Fund was the Laudus Mondrian Emerging Markets Fund. The Fund was reorganized into the Mondrian Emerging Markets Equity Fund on September 24, 2018. It continues to be managed in the same way.
Gross expense ratio: 1.51%, net expense ratio: 0.92%. Effective September 24, 2018, Mondrian Investment Partners Limited (the “Advisor”) has contractually agreed to waive fees and reimburse expenses to the extent necessary to keep Total Annual Fund Operating Expenses (excluding interest, taxes, brokerage commissions, acquired fund fees and expenses and non-routine expenses from exceeding 0.92% of the Fund’s average daily net assets until February 28, 2027.
Effective March 1, 2019, The Fund changed its name to the Mondrian Emerging Markets Value Equity Fund (formerly Mondrian Emerging Markets Equity Fund).
The MSCI Emerging Markets Index is a free float-adjusted market capitalization weighted index that is designed to measure equity market performance in the global emerging markets. This series approximates the minimum possible dividend reinvestment. The returns are calculated applying dividend withholding rates applicable to non-resident persons who do not benefit from double taxation treaties.

Calendar Year

Returns are annualized for periods over 1 year.
Fund Inception November 2, 2007.
The performance data quoted represents past performance. Past performance is no guarantee of future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost and current performance may be lower or higher than performance quoted. For performance data current to the most recent month end, please call 888-832-4386. NAV returns since inception of November 2nd, 2007 when the Fund was the Laudus Mondrian Emerging Markets Fund. The Fund was reorganized into the Mondrian Emerging Markets Equity Fund on September 24, 2018. It continues to be managed in the same way.
Gross expense ratio: 1.51%, net expense ratio: 0.92%. Effective September 24, 2018, Mondrian Investment Partners Limited (the “Advisor”) has contractually agreed to waive fees and reimburse expenses to the extent necessary to keep Total Annual Fund Operating Expenses (excluding interest, taxes, brokerage commissions, acquired fund fees and expenses and non-routine expenses from exceeding 0.92% of the Fund’s average daily net assets until February 28, 2027.
Effective March 1, 2019, The Fund changed its name to the Mondrian Emerging Markets Value Equity Fund (formerly Mondrian Emerging Markets Equity Fund).
The MSCI Emerging Markets Index is a free float-adjusted market capitalization weighted index that is designed to measure equity market performance in the global emerging markets. This series approximates the minimum possible dividend reinvestment. The returns are calculated applying dividend withholding rates applicable to non-resident persons who do not benefit from double taxation treaties.

Defensive Characteristics

As of June 30, 2025
The below chart illustrates Mondrian’s consistent style of outperforming in most down markets, while capturing most of the upside in rising markets. This results in achieving outperformance over the long-term.

A bull market quarter is defined as one in which the index showed a positive return, and a bear market quarter when the index showed a negative return.

Since Inception November 2nd, 2007.

Returns are annualized for periods over 1 year.
Fund Inception November 2, 2007.
The performance data quoted represents past performance. Past performance is no guarantee of future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost and current performance may be lower or higher than performance quoted. For performance data current to the most recent month end, please call 888-832-4386. NAV returns since inception of November 2nd, 2007 when the Fund was the Laudus Mondrian Emerging Markets Fund. The Fund was reorganized into the Mondrian Emerging Markets Equity Fund on September 24, 2018. It continues to be managed in the same way.
Gross expense ratio: 1.51%, net expense ratio: 0.92%. Effective September 24, 2018, Mondrian Investment Partners Limited (the “Advisor”) has contractually agreed to waive fees and reimburse expenses to the extent necessary to keep Total Annual Fund Operating Expenses (excluding interest, taxes, brokerage commissions, acquired fund fees and expenses and non-routine expenses from exceeding 0.92% of the Fund’s average daily net assets until February 28, 2027.
Effective March 1, 2019, The Fund changed its name to the Mondrian Emerging Markets Value Equity Fund (formerly Mondrian Emerging Markets Equity Fund).
The MSCI Emerging Markets Index is a free float-adjusted market capitalization weighted index that is designed to measure equity market performance in the global emerging markets. This series approximates the minimum possible dividend reinvestment. The returns are calculated applying dividend withholding rates applicable to non-resident persons who do not benefit from double taxation treaties.

Portfolio

As of June 30, 2025

Characteristics

Characteristic Mondrian Fund MSCI EM Index
P/E (trailing 12 months) 11.8 15.1
P/B (trailing 12 months) 1.6 1.9
Price/Cash Flow 7.3 10.4
Dividend Yield (%) 4.1 2.6
Number of Holdings 58 1,203
Weighted Average Market Cap (million, USD) 175,762 179,424
Median Market Cap (million, USD) 22,904 6,121

* The above P/E includes positions with a negative P/E ratio resulting in distorted data. The Fund’s P/E excluding these positions is 12.4.

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.
Price to Cash Flow – The Price to Cash Flow Ratio is the ratio of a stocks price to its cash flow per share.
Weighted Average Market Cap – The portfolio-weighted average market capitalizations of all equity securities.
Median Market Cap – The median market capitalization of all equity securities.
Neither MSCI nor any other party involved in or related to compiling, computing or creating the MSCI data makes any express or implied warranties or representations with respect to such data (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability or fitness for a particular purpose with respect to any of such data. Without limiting any of the foregoing, in no event shall MSCI, any of its affiliates or any third party involved in or related to compiling, computing or creating the data have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages. No further distribution or dissemination of the MSCI data is permitted without MSCI’s express written consent.

Country Allocation

Neither MSCI nor any other party involved in or related to compiling, computing or creating the MSCI data makes any express or implied warranties or representations with respect to such data (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability or fitness for a particular purpose with respect to any of such data. Without limiting any of the foregoing, in no event shall MSCI, any of its affiliates or any third party involved in or related to compiling, computing or creating the data have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages. No further distribution or dissemination of the MSCI data is permitted without MSCI’s express written consent.

Sector Allocation

Neither MSCI nor any other party involved in or related to compiling, computing or creating the MSCI data makes any express or implied warranties or representations with respect to such data (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability or fitness for a particular purpose with respect to any of such data. Without limiting any of the foregoing, in no event shall MSCI, any of its affiliates or any third party involved in or related to compiling, computing or creating the data have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages. No further distribution or dissemination of the MSCI data is permitted without MSCI’s express written consent.

Top 10

Holdings are Subject to Change. If you would like to see all of the portfolio holdings, please see below.

Neither MSCI nor any other party involved in or related to compiling, computing or creating the MSCI data makes any express or implied warranties or representations with respect to such data (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability or fitness for a particular purpose with respect to any of such data. Without limiting any of the foregoing, in no event shall MSCI, any of its affiliates or any third party involved in or related to compiling, computing or creating the data have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages. No further distribution or dissemination of the MSCI data is permitted without MSCI’s express written consent.

News & Insights

pexels-caio-45917

US Dollar Weakness Bolsters Emerging Market Equities

A weakening US dollar historically creates a fertile backdrop for emerging market assets, driven by enhanced capital flows, commodity tailwinds, and improved debt dynamics.
View article US Dollar Weakness Bolsters Emerging Market Equities
Miller_thumbnail Q12025

Video: Emerging Markets Investment Outlook – Q1 2025

Watch as Andrew Miller, CIO-Emerging Market Equities, discusses the investment opportunity for EM investors in China particularly as the narrative of U.S. exceptionalism continues to come under pressure.
View article Video: Emerging Markets Investment Outlook – Q1 2025
EM Outlook_Q1 2025_V2_pexels-zhangkaiyv-1139556_1000x667

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%.
View article Emerging Markets Investment Outlook – Q1 2025

Regulatory Documents

SAI
Summary Prospectus
Fund Prospectus
Additional Quarterly Holdings
Annual Report
Semi-Annual Report

Applications

IRA Application
Change of Account Ownership
New Account Application
IRA Distribution Election Form
IRA Asset Transfer Direct Rollover Request

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.

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North America

201 King of Prussia Road
Suite 620
Radnor, PA 19087 
United States

Europe, the Middle East & Africa

Tenth Floor
Sixty London Wall
London EC2M 5TQ
United Kingdom

Asia-Pacific

6 Battery Road
Unit 27–04
Singapore
049909