The COVID-19 crisis of 2020 was not a systemic crisis. The scale and speed of fiscal and monetary stimulus led by the US Federal Reserve drove global markets to bounce, registering strong gains for the full year.
INVESTMENT CAPABILITIES
U.S. Small Cap
This strategy invests in US securities below USD 4 billion in market capitalization. The portfolio ranges from 30 to 60 companies, and clients typically benchmark the strategy to the Russell 2000 Index.
Why Mondrian for U.S. Small Cap Equities?
- A value approach which emphasizes yield and future real growth in dividends
- Consistent dividend discount methodology which compares value across all securities and sectors
- Analysis of central, best and worst case scenarios
- In-depth fundamental research
- Seek to produce meaningfully high real returns
- Aim to preserve capital during market declines
- Long-term Purchasing Power Parity approach to currency analysis
- Focused portfolios with strong value characteristic
- Long-term focus has resulted in low turnover and reduced transaction costs
Performance
As of September 30, 2021
Annualized
Calendar Year
Defensive Characteristics
Mondrian U.S. Small Cap Equity Composite (USD)
Inception date: January 1, 1998
Index returns are shown with net dividends reinvested.
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.Â
As of September 30, 2021
Characteristics
Sector Allocation
Top 10
| Characteristic | ||
|---|---|---|
| P/E (trailing 12 months) | ||
| P/B (trailing 12 months) | ||
| Price/Cash Flow | ||
| Dividend Yield (%) | ||
| Number of Holdings | ||
| Weighted Average Market Cap (million, USD) | ||
| Median Market Cap (million, USD) | ||
| Information Ratio (3 years) |
Source: Mondrian Investment Partners/Russell
Mondrian Investment Partners Limited (“Mondrian”) claims compliance with the Global Investment Performance Standards (GIPS®). GIPS® is a registered trademark of CFA Institute. CFA Institute does not endorse or promote this organization, nor does it warrant the accuracy or quality of the content contained herein. A GIPS Composite Report is available on request from mondrian.website@mondrian.com.
This introductory material is for informational purposes only and is not an offer or solicitation with respect to any securities. Any offer of securities can only be made by written offering materials, which are available solely upon request, on an exclusively private basis and only to qualified financially sophisticated investors residing in jurisdictions consistent with Mondrian’s regulatory authorizations. The information set forth herein is a summary only and does not set forth all of the risks associated with the investment strategy described herein. Â
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.
These materials 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.
Calculations for P/E, P/B, dividend yield, sector country allocations, market caps, yield to maturity, modified duration, average maturity, average quality and country allocations are based on generally accepted industry standards. All characteristics are based on a representative account and derived by first calculating the characteristics for each security, and then calculating the weighted average of these values. The details of exact calculations can be provided upon request. All characteristic data provided is produced using Mondrian’s accounting system data.
There can be no assurance that the investment objectives of the strategy will be achieved.
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The Russell data contained herein is a trademark of the Frank Russell Company. Russell® is a trademark of the Frank Russell Company.
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All information is as of June 30, 2021 unless otherwise noted.