UCITS FUND

Global Fixed Income Fund EUR Hedged

The Mondrian Global Fixed Income Fund (the Fund) aims to generate current income consistent with the preservation of principal. The Fund intends to invest primarily in a global portfolio of fixed and/or floating rate debt securities denominated in any currency and issued by governmental and supranational issuers located throughout the world that may provide the potential for capital appreciation.

Fund Overview

The Mondrian Global Fixed Income Fund (the Fund) aims to generate current income consistent with the preservation of principal. The Fund intends to invest primarily in a global portfolio of fixed and/or floating rate debt securities denominated in any currency and issued by governmental and supranational issuers located throughout the world that may provide the potential for capital appreciation. The debt securities the Fund invests in will generally be rated BBB- or better by Standard & Poor’s or Baa3 or better by Moody’s Investors Service or if unrated, be deemed to be of comparable quality by the Investment Manager. The Fund may invest in a broad range of debt securities, including government, municipal, sovereign, and supranational bonds and other debt securities, instruments and obligations issued by governments, their agencies, instrumentalities or political subdivisions and supranational entities. Types of bonds the Fund may invest in but is not limited to are zero coupon bonds and inflation-linked bonds.

Investment Philosophy

Fund Facts

ISIN IE00BD87QT41
Bloomberg Ticker MONGFIE
Sedol BD87QT4
Ongoing Charge1 0.595%
Management Fee 0.45%
Benchmark FTSE WGBI Hedged EUR
Fund Inception Date November 24, 2016
Share Class Inception Date November 24, 2016
Entry/Exit Charge 0.0%/0.0%
Minimum Initial Investment USD 5,000,000
Minimum Subsequent Investment USD 1,000,000
Base Currency EUR
Hedged Yes
Accumulation or Income Accumulation
Fund size EUR 99.3 million
Share Class Size EUR 58.3 million
Morningstar Rating™2 ★★★

1 The Ongoing Charge is estimated and includes the management fee and administrative expenses. The Ongoing Charge includes an administrative expenses cap of 0.145%. 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 March 31, 2024

Annualized

Fund launch date: November 24, 2016
Fund NAV performance returns shown. Past performance of the Share Class is calculated in EUR. Performance is calculated after the deduction of ongoing charges and is inclusive of gross income reinvested. The Fund’s performance is measured against the Citigroup World Government Bond Index hedged in Euro terms, also known as the FTSE World Government Bond Index hedged in Euro terms. Past performance is not a guide to future performance.

Calendar Year

Fund launch date: November 24, 2016
Fund NAV performance returns shown. Past performance of the Share Class is calculated in EUR. Performance is calculated after the deduction of ongoing charges and is inclusive of gross income reinvested. The Fund’s performance is measured against the Citigroup World Government Bond Index hedged in Euro terms, also known as the FTSE World Government Bond Index hedged in Euro terms. Past performance is not a guide to future performance.

Portfolio

As of March 31, 2024

Characteristics

Characteristic Mondrian Fund FTSE World Government Bond Index (EUR) H
Yield to Maturity (%) 3.7 3.4
Modified Duration (years) 7.8 7.2
Average Maturity (years) 9.6 9.7
Average Credit Rating AA AA
Number of Issues 53 1,263
Information Ratio 0.10

Source: Mondrian Investment Partners/Bloomberg

Further details, including risks, fees and expenses, are set out in the current Prospectus, Supplements and Key Investor Information Documents (KIIDs), which can be obtained by visiting www.mondrian/ucits-funds/. Read carefully before investing.

Calculations for Average Coupon, Average Maturity, Modified Duration, Average Quality, and Yield to Maturity 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 Shares in the Fund will fluctuate. When a redemption is made, the Shares 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 Fund Supplement. 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 information is net of Transaction Expenses, Administrative Expenses and Management Fees (each as described in the Supplement to the Prospectus).

The FTSE World Government Bond Index is a market weighted index of world government fixed income securities in which the total market value of the constituent countries is at least $25 billion.

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 Active Bond Positions

1Allocation in representative account. Absent client restrictions, allocations are consistent across all client portfolios with the same mandate type. Bond exposures are calculated in duration weighted terms. Where bond exposure is shown, this represents the portfolio’s exposure to bonds issued by each country. Where currency exposure is shown, this represents the portfolio’s exposure to bonds, cash and forward.
2 Active weight exposure (Mondrian weight minus index weight).
Further details, including risks, fees and expenses, are set out in the current Prospectus, Supplements and Key Investor Information Documents (KIIDs), which can be obtained by visiting www.mondrian/ucits-funds/. Read carefully before investing.

Calculations for Average Coupon, Average Maturity, Modified Duration, Average Quality, and Yield to Maturity 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 Shares in the Fund will fluctuate. When a redemption is made, the Shares 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 Fund Supplement. 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 information is net of Transaction Expenses, Administrative Expenses and Management Fees (each as described in the Supplement to the Prospectus).

The FTSE World Government Bond Index is a market weighted index of world government fixed income securities in which the total market value of the constituent countries is at least $25 billion.

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 Active Currency Positions

1Allocation in representative account. Absent client restrictions, allocations are consistent across all client portfolios with the same mandate type. Bond exposures are calculated in duration weighted terms. Where bond exposure is shown, this represents the portfolio’s exposure to bonds issued by each country. Where currency exposure is shown, this represents the portfolio’s exposure to bonds, cash and forward.
2 Active weight exposure (Mondrian weight minus index weight).
Further details, including risks, fees and expenses, are set out in the current Prospectus, Supplements and Key Investor Information Documents (KIIDs), which can be obtained by visiting www.mondrian/ucits-funds/. Read carefully before investing.

Calculations for Average Coupon, Average Maturity, Modified Duration, Average Quality, and Yield to Maturity 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 Shares in the Fund will fluctuate. When a redemption is made, the Shares 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 Fund Supplement. 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 information is net of Transaction Expenses, Administrative Expenses and Management Fees (each as described in the Supplement to the Prospectus).

The FTSE World Government Bond Index is a market weighted index of world government fixed income securities in which the total market value of the constituent countries is at least $25 billion.

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

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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

Sustainability-related Disclosures

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