UCITS FUND
Global Equity Fund
The Mondrian Global Equity Fund (the Fund) aims to achieve long-term total return. Investments will be made mainly in listed securities of companies located in developed countries. The Fund may also invest up to 10% in the securities of emerging markets companies.
Fund Overview
The Mondrian Global Equity Fund (the Fund) aims to achieve long-term total return. Investments will be made mainly in listed securities of companies located in developed countries. The Fund may also invest up to 10% in the securities of emerging markets companies. The Fund’s investment approach focuses on future anticipated dividends and discounts the value of those forecasted dividends back to what they would be worth if they were being received today. The Investment Manager’s general management strategy emphasizes long-term holding of securities, although securities may be sold at the Investment Manager’s discretion without regard to the length of time they have been held.
Investment Philosophy
- A value-oriented, dividend discount methodology that focuses on future anticipated dividends and discounts the value of those dividends back to today’s present value
- An approach that focuses on providing a rate of return meaningfully greater than the client’s domestic rate of inflation
- Client portfolios that seek to preserve capital during protracted global market declines
- Portfolio performance that has been typically less volatile than the MSCI World Index and most other global managers
Literature
Prospectus
Swiss Prospectus
Account Opening Form
Annual Report
Interim Report
Swiss Annual Report
Fund Supplement
UK Country Supplement
Fund Facts
| ISIN | IE00BSVYGT76 |
| Bloomberg Ticker | MFPGEUS |
| Sedol | BSVYGT7 |
| Ongoing Charge1 | 0.70% |
| Management Fee | 0.55% |
| Benchmark | MSCI World (NDR) Index |
| Inception Date | December 29, 2014 |
| Entry/Exit Charge | 0.25%/0.15% |
| Min. Initial Investment | USD 5,000,000 |
| Min. Subsequent Investment | USD 1,000,000 |
| Base Currency | USD |
| Hedged | No |
| Accumulation or Income | Accumulation |
| Fund Size | USD 19.7 million |
| Morningstar Rating™2 (June 30, 2024) | ★★★★ |
1The Ongoing Charge is estimated and includes the management fee and administrative expenses. The Ongoing Charge includes an administrative expenses cap of 0.15%. This cap does not include transaction related expenses and any non-recurring expenses.
2© 2024 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Fund ratings represent an opinion only and are not a recommendation to buy or sell any fund.
Performance
As of September 30, 2024
Annualized
Mondrian Global Equity Fund (USD)
Fund launch date: December 29, 2014
Fund NAV performance returns shown. Past performance of the Share Class is calculated in USD. Performance is calculated after the deduction of ongoing charges and is inclusive of gross income reinvested. The Fund’s investment performance is measured against the MSCI World Index. Past performance is not a guide to future performance. Index returns are shown with net dividends reinvested.
Calendar Year
Mondrian Global Equity Fund (USD)
Fund NAV performance returns shown. Past performance of the Share Class is calculated in USD. Performance is calculated after the deduction of ongoing charges and is inclusive of gross income reinvested. The Fund’s investment performance is measured against the MSCI World Index. Past performance is not a guide to future performance. Index returns are shown with net dividends reinvested.
Defensive Characteristics
As of September 30, 2024
Mondrian Global Equity Fund (USD)
Fund NAV performance returns shown. Past performance of the Share Class is calculated in USD. Performance is calculated after the deduction of ongoing charges and is inclusive of gross income reinvested. The Fund’s investment performance is measured against the MSCI World Index. Past performance is not a guide to future performance. Index returns are shown with net dividends reinvested.
Portfolio
As of September 30, 2024
Characteristics
| Characteristic | Mondrian Fund | MSCI World Index |
|---|---|---|
| P/E (trailing 12 months) | 17.6 | 22.7 |
| P/B (trailing 12 months) | 2.3 | 3.5 |
| Price/Cash Flow | 10.6 | 15.7 |
| Dividend Yield (%) | 2.6 | 1.8 |
| Number of Holdings | 46 | 1,410 |
| Weighted Average Market Cap (million, USD) | 247,807 | 671,263 |
| Median Market Cap (million, USD) | 61,272 | 21,357 |
| Information Ratio | 0.21 |
Further details, including risks, fees and expenses, are set out in the current Prospectus, Supplements and Key Investor Information Documents (KIIDs) below. Read carefully before investing.
Calculations for P/E, P/B, dividend yield and market caps are based on generally accepted industry standards. All Fund characteristics are derived by first calculating the characteristics for each security, and then calculating the weighted-average of these values for the Fund. The details of exact calculations can be provided upon request.
Past performance is not indicative of future results. An investment in the Fund involves the risk of loss. The investment return and value of interests in the Fund will fluctuate. When a withdrawal is made, the interests may be worth more or less than when originally purchased.
There can be no assurance that the investment objectives of the Fund will be achieved.
The Fund is managed in accordance with the investment objective and guidelines and other terms and conditions described in the Prospectus and Supplement, as each may be amended or modified from time to time in accordance with their terms. The Fund is not managed in accordance with the individual guidelines of any one investor.
The Total Assets of the Fund and the Fund Return are calculated using the official Net Asset Value data of the Fund. All other information has been calculated using Mondrian’s accounting system data, which may differ from official Net Asset Value data of the Fund, for example because of timing of the accounting of Administrative Expenses and pricing for securities.
All performance provided is net of Transaction Expenses, Administrative Expenses and Management Fees but gross of Subscription Charges and Redemption Charges (each as described in the Prospectus and Supplement). Subscription Charges and Redemption Charges are automatically deducted from subscription payments and redemption proceeds. Investor returns will be reduced by Subscription Charges and Redemption Charges paid.
The MSCI World Index Net data are presented. The MSCI World Net Index assumes the reinvestment of dividends after the deduction of withholding tax and approximates the minimum possible dividend re-investment.
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.
This information is confidential and only for the use of participants in the Fund and their advisers. It may not be redistributed or reproduced, in whole or in part.
Views expressed were current as of the date indicated, are subject to change, and may not reflect current views. Views should not be considered a recommendation to buy, hold or sell any security and should not be relied on as research or investment advice.
We may include forward-looking statements. All statements other than statements of historical facts are forward- looking statements (including words such as “believe,” “estimate,” “anticipate,” “may,” “will,” “should,” “expect”). Although we believe that the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. Various factors could cause actual results or performance to differ materially from those reflected in such forward-looking statements.
Sector Allocation
Mondrian Global Equity Fund (USD)
Further details, including risks, fees and expenses, are set out in the current Prospectus, Supplements and Key Investor Information Documents (KIIDs) below. Read carefully before investing.
Calculations for P/E, P/B, dividend yield and market caps are based on generally accepted industry standards. All Fund characteristics are derived by first calculating the characteristics for each security, and then calculating the weighted-average of these values for the Fund. The details of exact calculations can be provided upon request.
Past performance is not indicative of future results. An investment in the Fund involves the risk of loss. The investment return and value of interests in the Fund will fluctuate. When a withdrawal is made, the interests may be worth more or less than when originally purchased.
There can be no assurance that the investment objectives of the Fund will be achieved.
The Fund is managed in accordance with the investment objective and guidelines and other terms and conditions described in the Prospectus and Supplement, as each may be amended or modified from time to time in accordance with their terms. The Fund is not managed in accordance with the individual guidelines of any one investor.
The Total Assets of the Fund and the Fund Return are calculated using the official Net Asset Value data of the Fund. All other information has been calculated using Mondrian’s accounting system data, which may differ from official Net Asset Value data of the Fund, for example because of timing of the accounting of Administrative Expenses and pricing for securities.
All performance provided is net of Transaction Expenses, Administrative Expenses and Management Fees but gross of Subscription Charges and Redemption Charges (each as described in the Prospectus and Supplement). Subscription Charges and Redemption Charges are automatically deducted from subscription payments and redemption proceeds. Investor returns will be reduced by Subscription Charges and Redemption Charges paid.
The MSCI World Index Net data are presented. The MSCI World Net Index assumes the reinvestment of dividends after the deduction of withholding tax and approximates the minimum possible dividend re-investment.
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.
This information is confidential and only for the use of participants in the Fund and their advisers. It may not be redistributed or reproduced, in whole or in part.
Views expressed were current as of the date indicated, are subject to change, and may not reflect current views. Views should not be considered a recommendation to buy, hold or sell any security and should not be relied on as research or investment advice.
We may include forward-looking statements. All statements other than statements of historical facts are forward- looking statements (including words such as “believe,” “estimate,” “anticipate,” “may,” “will,” “should,” “expect”). Although we believe that the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. Various factors could cause actual results or performance to differ materially from those reflected in such forward-looking statements.
Country Allocation
Mondrian Global Equity Fund (USD)
Further details, including risks, fees and expenses, are set out in the current Prospectus, Supplements and Key Investor Information Documents (KIIDs) below. Read carefully before investing.
Calculations for P/E, P/B, dividend yield and market caps are based on generally accepted industry standards. All Fund characteristics are derived by first calculating the characteristics for each security, and then calculating the weighted-average of these values for the Fund. The details of exact calculations can be provided upon request.
Past performance is not indicative of future results. An investment in the Fund involves the risk of loss. The investment return and value of interests in the Fund will fluctuate. When a withdrawal is made, the interests may be worth more or less than when originally purchased.
There can be no assurance that the investment objectives of the Fund will be achieved.
The Fund is managed in accordance with the investment objective and guidelines and other terms and conditions described in the Prospectus and Supplement, as each may be amended or modified from time to time in accordance with their terms. The Fund is not managed in accordance with the individual guidelines of any one investor.
The Total Assets of the Fund and the Fund Return are calculated using the official Net Asset Value data of the Fund. All other information has been calculated using Mondrian’s accounting system data, which may differ from official Net Asset Value data of the Fund, for example because of timing of the accounting of Administrative Expenses and pricing for securities.
All performance provided is net of Transaction Expenses, Administrative Expenses and Management Fees but gross of Subscription Charges and Redemption Charges (each as described in the Prospectus and Supplement). Subscription Charges and Redemption Charges are automatically deducted from subscription payments and redemption proceeds. Investor returns will be reduced by Subscription Charges and Redemption Charges paid.
The MSCI World Index Net data are presented. The MSCI World Net Index assumes the reinvestment of dividends after the deduction of withholding tax and approximates the minimum possible dividend re-investment.
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.
This information is confidential and only for the use of participants in the Fund and their advisers. It may not be redistributed or reproduced, in whole or in part.
Views expressed were current as of the date indicated, are subject to change, and may not reflect current views. Views should not be considered a recommendation to buy, hold or sell any security and should not be relied on as research or investment advice.
We may include forward-looking statements. All statements other than statements of historical facts are forward- looking statements (including words such as “believe,” “estimate,” “anticipate,” “may,” “will,” “should,” “expect”). Although we believe that the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. Various factors could cause actual results or performance to differ materially from those reflected in such forward-looking statements.
Top 10
Mondrian Global Equity Fund (USD)
Further details, including risks, fees and expenses, are set out in the current Prospectus, Supplements and Key Investor Information Documents (KIIDs) below. Read carefully before investing.
Calculations for P/E, P/B, dividend yield and market caps are based on generally accepted industry standards. All Fund characteristics are derived by first calculating the characteristics for each security, and then calculating the weighted-average of these values for the Fund. The details of exact calculations can be provided upon request.
Past performance is not indicative of future results. An investment in the Fund involves the risk of loss. The investment return and value of interests in the Fund will fluctuate. When a withdrawal is made, the interests may be worth more or less than when originally purchased.
There can be no assurance that the investment objectives of the Fund will be achieved.
The Fund is managed in accordance with the investment objective and guidelines and other terms and conditions described in the Prospectus and Supplement, as each may be amended or modified from time to time in accordance with their terms. The Fund is not managed in accordance with the individual guidelines of any one investor.
The Total Assets of the Fund and the Fund Return are calculated using the official Net Asset Value data of the Fund. All other information has been calculated using Mondrian’s accounting system data, which may differ from official Net Asset Value data of the Fund, for example because of timing of the accounting of Administrative Expenses and pricing for securities.
All performance provided is net of Transaction Expenses, Administrative Expenses and Management Fees but gross of Subscription Charges and Redemption Charges (each as described in the Prospectus and Supplement). Subscription Charges and Redemption Charges are automatically deducted from subscription payments and redemption proceeds. Investor returns will be reduced by Subscription Charges and Redemption Charges paid.
The MSCI World Index Net data are presented. The MSCI World Net Index assumes the reinvestment of dividends after the deduction of withholding tax and approximates the minimum possible dividend re-investment.
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.
This information is confidential and only for the use of participants in the Fund and their advisers. It may not be redistributed or reproduced, in whole or in part.
Views expressed were current as of the date indicated, are subject to change, and may not reflect current views. Views should not be considered a recommendation to buy, hold or sell any security and should not be relied on as research or investment advice.
We may include forward-looking statements. All statements other than statements of historical facts are forward- looking statements (including words such as “believe,” “estimate,” “anticipate,” “may,” “will,” “should,” “expect”). Although we believe that the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. Various factors could cause actual results or performance to differ materially from those reflected in such forward-looking statements.
News & Insights
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.
Global Equity Investment Outlook – Q2 2024
In a year of political change, investors face uncertainty as fragmented allegiances and significant challenges shape the markets ahead of pivotal elections in Europe and the US.
Video: Mondrian’s Approach to US Large-Cap Equities
Senior Portfolio Manager, Charlie Hill, provides an overview of Mondrian’s approach to US large-cap equities, including our philosophy and process.
How to Invest
To invest in the fund, please download and read through the documents below and fill out the Account Opening Form.
KIID Document
Fund Supplement
Account Opening Form
You can buy or sell shares daily (but not on weekends or bank holidays in the UK or Ireland). Orders to buy can be made by submitting a request by 5:00p.m. (Irish time), 3 business days in advance, to the administrator. Orders to sell can be made by submitting a request by 5:00p.m. (Irish time) 2 business days in advance to the administrator.
Administrator:
Mondrian Funds plc
C/o Northern Trust International Fund Administration Services (Ireland) Limited
Investor Services Department
George’s Court
54-62 Townsend Street
Dublin 2
Ireland
Share Class Literature
Fund Overview
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Sustainability-related Disclosures
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