UCITS FUND
Global Green Bond Fund EUR Hedged
The Mondrian Global Green Bond Fund (the Fund) aims to generate returns consistent with the preservation of principal and the generation of income and capital growth over the long term with a focus on investment in green bonds. The Fund intends to invest primarily in a broad range of fixed and/or floating rate debt securities (such as notes, bonds and treasury bills) of governments, their agencies, instrumentalities or political subdivisions and companies, which the Investment Manager classifies as green bonds.
Fund Overview
The Mondrian Global Green Bond Fund (the Fund) aims to generate returns consistent with the preservation of principal and the generation of income and capital growth over the long term with a focus on investment in green bonds. The Fund intends to invest primarily in a broad range of fixed and/or floating rate debt securities (such as notes, bonds and treasury bills) of governments, their agencies, instrumentalities or political subdivisions and companies, which the Investment Manager classifies as green bonds.
The Investment Manager defines green bonds as any type of bond instrument where the proceeds will be applied to finance or refinance in part or in full new and/or existing projects that the Investment Manager believes are beneficial to the environment which include but would not be limited to climate change mitigation, climate change adaptation, natural resource conservation, biodiversity conservation and pollution prevention and control. It is intended that in normal market conditions 100% of the Fund’s Net Asset Value will be invested in green bonds, as defined by the Investment Manager. Cash may also be held on behalf of the Fund.
Investment Philosophy
- A value-orientated, philosophy, which focuses on green bonds in global fixed income markets that offer high income in real (inflation adjusted) terms.
- Targets bonds considered by Mondrian to be genuinely green, as per our green analysis framework.
Literature
Swiss Prospectus
Account Opening Form
Annual Report
Interim Report
Swiss Annual Report
Fund Supplement
UK Country Supplement
Fund Facts
| ISIN | IE00BMHKTQ58 |
| Bloomberg Ticker | MOGGBEH |
| Sedol | BMHKTQ5 |
| Total Expense Ratio1 | 0.495% |
| Management Fee | 0.35% |
| Benchmark | Bloomberg MSCI Global Green Bond Index Hedged |
| Fund Inception Date | September 17, 2020 |
| Share Class Inception Date | September 17, 2020 |
| Entry/Exit Charge | 0.0%/0.0% |
| Minimum Initial Investment | EUR 5,000,000 |
| Minimum Subsequent Investment | EUR 1,000,000 |
| Base Currency | EUR |
| Hedged | Yes |
| Accumulation or Income | Accumulation |
| Fund Size | EUR 2.1 million |
| Share Class Size | EUR 0.5 million |
| Morningstar Rating™2 (June 30, 2024) | ★ |
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 June 30, 2024
Annualized
Inception Date: September 17, 2020
Source: Bloomberg
Past performance is not a guide to future performance. The value of investments and income from then can fall as well as rise and investors may not get back the original amount invested. Performance results marked “Gross” do not reflect deduction of investment advisory fees but are net of transaction costs and withholding tax. Investment returns will be reduced accordingly. Performance returns marked “Net” reflect deduction of investment advisory fees and are calculated by deducting a quarterly indicative fee from the quarterly composite return. Please see important information below.
Periods over 12 months are annualized.
Calendar Year
Fund launch date: November 2, 2020
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 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 USD terms. Past performance is not a guide to future performance.
Portfolio
As of June 30, 2024
Characteristics
| Characteristic | Mondrian Fund | Bloomberg MSCI Global Green Bond Index Hedged (EUR) |
|---|---|---|
| Yield to Maturity (%) | 4.2 | 3.9 |
| Modified Duration (years) | 7.4 | 6.7 |
| Average Maturity (years) | 9.0 | 8.1 |
| Average Credit Rating | AA- | A+ |
| Number of Issues | 38 | 1,432 |
| Information Ratio | -0.85 |
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 Bloomberg MSCI Green Bond Index is a multi-currency local debt index of investment grade fixed income securities which are classified by their environmental use of proceeds. 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). 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.
2Active 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 Bloomberg MSCI Green Bond Index is a multi-currency local debt index of investment grade fixed income securities which are classified by their environmental use of proceeds. 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). 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.
2Active 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 Bloomberg MSCI Green Bond Index is a multi-currency local debt index of investment grade fixed income securities which are classified by their environmental use of proceeds. 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). 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
Source: Mondrian Investment Partners/FTSE
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 Bloomberg MSCI Green Bond Index is a multi-currency local debt index of investment grade fixed income securities which are classified by their environmental use of proceeds. 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). 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
Mondrian UCITS Funds Range Now Available on the Allfunds Platform
Mondrian Investment Partners is excited to announce the Mondrian UCITS funds range is now available on the Allfunds platform.
ESG Investor — Greening the World’s Brown Businesses
As more green bond issuers detail their environmental impact, investors will get a clearer picture of what projects they are supporting and the tangible environmental benefit their investment creates.
Portfolio Institutional — Green Bonds: Questions and Answers
Demand for green bonds continues to rise as investors aim to cut climate risk in their portfolios. Mondrian’s Sarah Mitchell joined a panel hosted by Portfolio Institutional to look further into this growing asset class and to see how the market is developing.
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
All UCITS Funds
Sustainability-related Disclosures
Global Equity Fund
SFDR Article 10 Disclosure
SFDR Sustainability Policy
