Mondrian Global Equity Value Fund
Name
As of 11/01/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
9.5%
1 yr return
20.7%
3 Yr Avg Return
6.3%
5 Yr Avg Return
N/A
Net Assets
$172 M
Holdings in Top 10
26.5%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 0.86%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover N/A
Redemption Fee N/A
Min Investment
Standard (Taxable)
$50,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 11/01/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
MPGVX - Profile
Distributions
- YTD Total Return 9.5%
- 3 Yr Annualized Total Return 6.3%
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 1.29%
- Dividend Yield 1.6%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameMondrian Global Equity Value Fund
-
Fund Family NameMondrian
-
Inception DateJun 30, 2020
-
Shares Outstanding10207768
-
Share ClassOther
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerJames Francken
Fund Description
The Fund is a global fund and generally invests in equity securities of companies around the world, as described below, that, in the Adviser’s opinion, are undervalued at the time of purchase based on fundamental value analysis employed by the Adviser. Under normal circumstances, the Fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities. This 80% investment policy can be changed by the Fund upon 60 days’ prior written notice to shareholders. For purposes of the Fund’s 80% investment policy, equity securities do not include convertible securities that are not immediately convertible into equity securities.
Under normal circumstances, the Fund invests in at least three countries, including the U.S., and invests at least 40% of its total assets in securities of non-U.S. companies or, if conditions are not favorable, invests at least 30% of its total assets in securities of non-U.S. companies. The Fund considers a company to be a non-U.S. company if: (1) the company’s principal securities trading market is outside of the U.S.; (2) while traded in any market, alone or, with respect to a parent company, on a consolidated basis with its subsidiaries, the company derives 50% or more of its annual revenues or annual profits from either goods produced, sales made or services performed outside of the U.S.; (3) the company has 50% or more of its assets located outside of the U.S.; or (4) the company is organized under the laws of, and has a principal office in, a non-U.S. country.
Equity securities include, but are not limited to, common stocks, preferred stocks, convertible securities, private placements, rights, warrants, real
estate investment trusts (“REITs”) and American, European or Global depositary receipts, which are certificates typically issued by a bank or trust company that represent ownership interests in securities of non-U.S. or U.S. companies, or other securities representing underlying shares of non-U.S. issuers. Equity securities also include derivatives, master limited partnerships (“MLPs”) and other investment companies (including mutual funds, closed-end funds and exchange-traded funds (“ETFs”)) with economic characteristics similar to equity securities. The Fund may invest in securities of companies with any market capitalization and, to the extent that the Fund invests in convertible securities, those securities may have any credit rating.
The Fund may invest in securities issued in any currency and may hold foreign currency. The Fund may actively carry on hedging activities, and may utilize derivatives, principally forward foreign currency exchange contracts, to hedge currency risks associated with the purchase of individual securities denominated in a particular currency. In addition, the Fund may, from time to time, hold non-U.S. currencies in order to facilitate or expedite settlement of portfolio transactions, or to minimize the impact of currency value fluctuations.
The Fund may invest in securities of emerging market companies. The Fund considers an “emerging market country” to be any country except the United States, Canada, and those in the MSCI EAFE Index. In considering possible emerging market countries in which the Fund may invest, the Adviser will place particular emphasis on factors such as economic conditions (including growth trends, inflation rates, and trade balances), regulatory and currency controls, accounting standards, and political and social conditions.
The Fund may invest in A-Shares of companies based in China that trade on the Shanghai Stock Exchange and the Shenzhen Stock Exchange through the Shanghai – Hong Kong and Shenzhen – Hong Kong Stock Connect programs (“Stock Connect”). Stock Connect is a mutual stock market access program designed to, among other things, enable foreign investments in China.
Under normal circumstances, no more than 10% of the Fund’s assets will be invested in debt securities issued by governments or by their agencies, instrumentalities or political sub-divisions, or by corporate entities, all of which may be high-yield, high-risk fixed income securities rated lower than BBB by S&P and Baa by Moody’s or, if unrated, considered to be of equivalent quality by the Adviser.
The Adviser’s approach in selecting investments for the Fund is primarily oriented to individual stock selection and is value driven. In selecting stocks for the Fund, the Adviser identifies those stocks that it
believes will provide high total return over a market cycle, taking into consideration movements in the price of the individual security and the impact of currency fluctuation on a United States domiciled, dollar-based investor. The Adviser conducts fundamental research on a global basis in order to identify securities that, in the Adviser’s opinion, have the potential for long-term total return. This research effort generally centers on a value-oriented dividend discount methodology with respect to individual securities and market analysis that isolates value across country boundaries. The approach focuses on future anticipated dividends, and discounts the value of those dividends back to what they would be worth if they were being received today. In addition, the analysis typically includes a comparison of the values and current market prices of different possible investments. The Adviser’s general management strategy emphasizes long-term holding of securities, although securities may be sold in the Adviser’s discretion without regard to the length of time that they have been held. The Adviser considers material environmental, social, and governance (“ESG”) risks and opportunities as an integrated part of the investment process.
The Fund is considered “non-diversified”, which means that it may invest in the securities of relatively few issuers.
MPGVX - Performance
Return Ranking - Trailing
Period | MPGVX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 9.5% | -35.6% | 29.2% | 45.64% |
1 Yr | 20.7% | 17.3% | 252.4% | N/A |
3 Yr | 6.3%* | -3.5% | 34.6% | N/A |
5 Yr | N/A* | 0.1% | 32.7% | N/A |
10 Yr | N/A* | -6.9% | 18.3% | N/A |
* Annualized
Return Ranking - Calendar
Period | MPGVX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 20.3% | -24.3% | 957.1% | N/A |
2022 | -11.7% | -38.3% | 47.1% | N/A |
2021 | 9.2% | -54.2% | 0.6% | N/A |
2020 | N/A | -76.0% | 54.1% | N/A |
2019 | N/A | -26.1% | 47.8% | N/A |
Total Return Ranking - Trailing
Period | MPGVX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 9.5% | -35.6% | 29.2% | 46.53% |
1 Yr | 20.7% | 11.4% | 252.4% | N/A |
3 Yr | 6.3%* | -3.5% | 34.6% | N/A |
5 Yr | N/A* | 0.1% | 32.7% | N/A |
10 Yr | N/A* | -6.9% | 18.3% | N/A |
* Annualized
Total Return Ranking - Calendar
Period | MPGVX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 22.4% | -24.3% | 957.1% | N/A |
2022 | -9.5% | -33.1% | 47.1% | N/A |
2021 | 10.9% | -44.4% | 1.8% | N/A |
2020 | N/A | -6.5% | 54.1% | N/A |
2019 | N/A | -14.4% | 47.8% | N/A |
NAV & Total Return History
MPGVX - Holdings
Concentration Analysis
MPGVX | Category Low | Category High | MPGVX % Rank | |
---|---|---|---|---|
Net Assets | 172 M | 199 K | 133 B | 88.05% |
Number of Holdings | 57 | 1 | 9075 | 59.80% |
Net Assets in Top 10 | 54.7 M | -18 M | 37.6 B | 88.00% |
Weighting of Top 10 | 26.49% | 9.1% | 100.0% | 59.95% |
Top 10 Holdings
- FUJITSU LIMITED COMMON STOCK 2.89%
- ENEL SPA COMMON STOCK 2.77%
- ABBVIE INC COMMON STOCK 2.75%
- KONINKLIJKE PHILIPS NV COMMON STOCK 2.70%
- SONY GROUP CORP COMMON STOCK 2.68%
- HCA HEALTHCARE INC COMMON STOCK 2.59%
- DUPONT DE NEMOURS INC COMMON STOCK 2.56%
- L3HARRIS TECHNOLOGIES INC COMMON STOCK 2.56%
- WELLS FARGO CO COMMON STOCK 2.50%
- META PLATFORMS INC COMMON STOCK 2.50%
Asset Allocation
Weighting | Return Low | Return High | MPGVX % Rank | |
---|---|---|---|---|
Stocks | 96.23% | 61.84% | 125.47% | 96.26% |
Preferred Stocks | 2.31% | -0.01% | 5.28% | 87.22% |
Cash | 1.48% | -174.70% | 23.12% | 2.42% |
Convertible Bonds | 0.00% | 0.00% | 4.46% | 86.12% |
Bonds | 0.00% | -1.50% | 161.67% | 86.67% |
Other | -0.01% | -13.98% | 19.14% | 88.55% |
Stock Sector Breakdown
Weighting | Return Low | Return High | MPGVX % Rank | |
---|---|---|---|---|
Healthcare | 22.79% | 0.00% | 35.42% | 1.54% |
Financial Services | 16.83% | 0.00% | 38.42% | 54.30% |
Technology | 14.25% | 0.00% | 49.87% | 87.67% |
Consumer Defense | 13.53% | 0.00% | 73.28% | 32.82% |
Industrials | 11.37% | 0.00% | 44.06% | 26.43% |
Consumer Cyclical | 6.63% | 0.00% | 40.94% | 68.17% |
Communication Services | 6.35% | 0.00% | 57.66% | 88.77% |
Utilities | 3.18% | 0.00% | 29.12% | 9.14% |
Energy | 2.44% | 0.00% | 21.15% | 44.93% |
Real Estate | 1.96% | 0.00% | 39.48% | 27.75% |
Basic Materials | 0.66% | 0.00% | 38.60% | 98.79% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | MPGVX % Rank | |
---|---|---|---|---|
US | 50.46% | 0.13% | 103.82% | 80.95% |
Non US | 45.77% | 0.58% | 99.46% | 39.65% |
MPGVX - Expenses
Operational Fees
MPGVX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.86% | 0.01% | 44.27% | 2.51% |
Management Fee | 0.65% | 0.00% | 1.82% | 41.68% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.01% | 0.76% | N/A |
Sales Fees
MPGVX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 2.50% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
MPGVX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 1.00% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
MPGVX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | N/A | 0.00% | 395.00% | N/A |
MPGVX - Distributions
Dividend Yield Analysis
MPGVX | Category Low | Category High | MPGVX % Rank | |
---|---|---|---|---|
Dividend Yield | 1.62% | 0.00% | 3.26% | 86.54% |
Dividend Distribution Analysis
MPGVX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Annual | Annually | Annually | Annually |
Net Income Ratio Analysis
MPGVX | Category Low | Category High | MPGVX % Rank | |
---|---|---|---|---|
Net Income Ratio | 1.29% | -4.27% | 12.65% | 28.41% |
Capital Gain Distribution Analysis
MPGVX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Semi-Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Dec 28, 2023 | $0.242 | OrdinaryDividend |
Dec 29, 2022 | $0.136 | OrdinaryDividend |
Dec 22, 2022 | $0.148 | OrdinaryDividend |
Dec 30, 2021 | $0.084 | OrdinaryDividend |
Dec 22, 2021 | $0.111 | OrdinaryDividend |
Dec 30, 2020 | $0.074 | OrdinaryDividend |
Dec 22, 2020 | $0.114 | OrdinaryDividend |
MPGVX - Fund Manager Analysis
Managers
James Francken
Start Date
Tenure
Tenure Rank
Jun 30, 2020
1.92
1.9%
Mr. Francken is a graduate of Exeter College, Oxford University and Emmanuel College, Cambridge University and holds an MBA in Finance from London Business School. Prior to joining Mondrian in 2009, he worked for Investec Asset Management. Mr. Francken is a portfolio manager in the Global Team. Mr. Francken is a CFA Charterholder and a member of the CFA Institute and the CFA Society of the UK.
Aileen Gan
Start Date
Tenure
Tenure Rank
Jun 30, 2020
1.92
1.9%
Ms. Gan is a Commerce graduate from the University of Melbourne, Australia and holds a Masters of Commerce degree from the University of New South Wales, Australia. Prior to joining Mondrian in 2005, she was a consultant at Accenture, specialising in the financial services sector, firstly in Singapore and subsequently in the UK. Ms. Gan has extensive experience in developed markets working initially within Mondrian Non-US Equity Team, before her current role heading up the Global Equity team. Her research responsibilities include coverage of US, Singapore and Australian markets. Ms. Gan is a CPA (Australia) and CFA Charterholder. She is also a member of the CPA Australia, the CFA Institute and the CFA Society of the UK.
Charlie Hill
Start Date
Tenure
Tenure Rank
Jun 30, 2020
1.92
1.9%
Mr. Hill graduated from the University of Oxford in 2009 with a BA (Hons) in Classics. He started his career at Deloitte LLP, where he qualified as a Chartered Accountant in the Corporate International Tax practice. Prior to joining Mondrian’s Global Equity team in 2016, Mr. Hill also spent time as a Fund Manager at Neptune Investment Management. Mr. Hill is a CFA Charterholder and is a member of the CFA Institute and the Institute of Chartered Accountants of England and Wales.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.01 | 35.82 | 6.24 | 1.25 |