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MONDRIAN GLOBAL LISTED INFRASTRUCTURE FUND

mutual fund
MGIFX
Payout Change
Pending
Price as of:
$11.5 +0.02 +0.17%
primary theme
Infrastructure Industry Equity
share class
MGIFX (Mutual Fund)

MONDRIAN GLOBAL LISTED INFRASTRUCTURE FUND

Payout Change
Pending
Price as of:
$11.5 +0.02 +0.17%
primary theme
Infrastructure Industry Equity
share class
MGIFX (Mutual Fund)

MONDRIAN GLOBAL LISTED INFRASTRUCTURE FUND

Payout Change
Pending
Price as of:
$11.5 +0.02 +0.17%
primary theme
Infrastructure Industry Equity
share class

Name

As of 10/04/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$11.50

$1.83 M

2.88%

$0.33

6.68%

Vitals

YTD Return

9.6%

1 yr return

28.3%

3 Yr Avg Return

6.3%

5 Yr Avg Return

6.5%

Net Assets

$1.83 M

Holdings in Top 10

43.2%

52 WEEK LOW AND HIGH

$11.5
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 6.68%

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 10/04/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$11.50

$1.83 M

2.88%

$0.33

6.68%

MGIFX - Profile

Distributions

  • YTD Total Return 9.6%
  • 3 Yr Annualized Total Return 6.3%
  • 5 Yr Annualized Total Return 6.5%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 2.36%
DIVIDENDS
  • Dividend Yield 2.9%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    MONDRIAN GLOBAL LISTED INFRASTRUCTURE FUND
  • Fund Family Name
    Mondrian
  • Inception Date
    Dec 17, 2018
  • Shares Outstanding
    152206
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Jonathan Spread

Fund Description

Under normal circumstances, the Fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities of infrastructure companies listed on a domestic or foreign exchange. This 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. 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 on a consolidated basis, 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.

The Fund defines an infrastructure company as any company that derives at least 50% of its revenue, profits or market value from the ownership, management, construction, operation, use or financing of infrastructure assets. Infrastructure assets are the basic physical and organizational structures and facilities needed for the effective operation of a society or enterprise (including, but not limited to, toll roads; bridges and tunnels; airports; seaports; electricity generation including, but not limited to, renewable energy generation assets; electricity transmission

lines and distribution; gathering, treating, processing, fractionation, transportation and storage of hydrocarbon products (e.g., oil and gas); water and sewage treatment and distribution pipelines; communication towers and satellites; railroads; solid waste collection, treatment and disposal; schools; universities; student accommodations; prisons; parking lots; hospitals and other health care facilities; and convention, entertainment and recreational facilities).

Equity securities include, but are not limited to, common stocks, preferred stocks, convertible securities, private placements, rights and warrants, master limited partnerships (“MLPs”), 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 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 companies with any market capitalization and, to the extent that the Fund invests in convertible securities, those securities may have any credit rating. Typically, the Fund will hold 25-40 issuers at any given time.

The Fund may invest in securities issued in any currency and may utilize derivatives, principally forward foreign currency exchange contracts, to seek to hedge (i.e. offset) currency risk. 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 up to 30% of its net assets in emerging market companies. The Fund considers a company to be an emerging market company if: (1) the company’s principal securities trading market is in an emerging market country; (2) while traded in any market, alone or on a consolidated basis, the company derives 50% or more of its annual revenues or annual profits from either goods produced, sales made or services performed in emerging market countries; (3) the company has 50% or more of its assets located in an emerging market country; or (4) the company is organized under the laws of, and has a principal office in, an emerging market country. The Fund considers an “emerging market country” to be any country except those in the MSCI World Index. From time to time, the Fund may focus its investments in a particular country or geographic region.

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 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.

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 capital appreciation over a market cycle, taking into consideration movements in the price of the individual security and the impact of currency fluctuation. 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 capital appreciation. The 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 Adviser’s general management strategy for the Fund 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.

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MGIFX - Performance

Return Ranking - Trailing

Period MGIFX Return Category Return Low Category Return High Rank in Category (%)
YTD 9.6% 2.4% 25.2% 83.00%
1 Yr 28.3% 14.5% 38.6% 72.00%
3 Yr 6.3%* -7.2% 17.1% 22.00%
5 Yr 6.5%* -1.1% 22.6% 29.27%
10 Yr N/A* 2.3% 9.3% N/A

* Annualized

Return Ranking - Calendar

Period MGIFX Return Category Return Low Category Return High Rank in Category (%)
2023 2.3% -17.5% 30.1% 35.00%
2022 -11.3% -28.1% -3.4% 49.00%
2021 4.1% -28.7% 35.7% 82.11%
2020 -6.6% -12.5% 28.8% 78.31%
2019 22.8% 9.9% 33.6% 50.00%

Total Return Ranking - Trailing

Period MGIFX Return Category Return Low Category Return High Rank in Category (%)
YTD 9.6% 2.4% 25.2% 83.00%
1 Yr 28.3% 14.5% 38.6% 72.00%
3 Yr 6.3%* -7.2% 17.1% 22.00%
5 Yr 6.5%* -1.1% 22.6% 29.27%
10 Yr N/A* 2.3% 9.3% N/A

* Annualized

Total Return Ranking - Calendar

Period MGIFX Return Category Return Low Category Return High Rank in Category (%)
2023 7.9% -15.6% 31.0% 17.00%
2022 -3.6% -27.1% -0.5% 12.00%
2021 11.7% -3.5% 36.4% 81.05%
2020 -0.7% -11.2% 29.9% 33.73%
2019 31.1% 16.7% 35.3% 3.66%

NAV & Total Return History


MGIFX - Holdings

Concentration Analysis

MGIFX Category Low Category High MGIFX % Rank
Net Assets 1.83 M 1.83 M 8.77 B 100.00%
Number of Holdings 27 26 233 99.00%
Net Assets in Top 10 823 K 823 K 5.05 B 100.00%
Weighting of Top 10 43.24% 7.6% 62.5% 47.00%

Top 10 Holdings

  1. AMERICAN TOWER CORP REIT 4.69%
  2. EDISON INTERNATIONAL COMMON STOCK 4.60%
  3. ENAV SPA COMMON STOCK 4.54%
  4. PROLOGIS INC REIT 4.44%
  5. CSX CORP COMMON STOCK 4.26%
  6. EVERSOURCE ENERGY COMMON STOCK 4.22%
  7. WESTPORTS HOLDINGS BHD COMMON STOCK 4.22%
  8. ENEL SPA COMMON STOCK 4.13%
  9. ENBRIDGE INC COMMON STOCK 4.08%
  10. CELLNEX TELECOM SA COMMON STOCK 4.07%

Asset Allocation

Weighting Return Low Return High MGIFX % Rank
Stocks
98.90% 86.92% 101.95% 34.00%
Cash
1.10% 0.00% 8.05% 66.00%
Preferred Stocks
0.00% 0.00% 2.81% 69.00%
Other
0.00% -0.33% 8.99% 74.00%
Convertible Bonds
0.00% 0.00% 2.46% 67.00%
Bonds
0.00% 0.00% 6.41% 67.00%

Stock Sector Breakdown

Weighting Return Low Return High MGIFX % Rank
Utilities
58.83% 3.71% 96.19% 18.00%
Industrials
29.65% 0.00% 68.24% 36.00%
Energy
4.41% 0.00% 32.46% 80.00%
Healthcare
3.83% 0.00% 6.54% 5.00%
Real Estate
3.28% 0.00% 23.51% 80.00%
Technology
0.00% 0.00% 25.65% 85.00%
Financial Services
0.00% 0.00% 17.28% 72.00%
Communication Services
0.00% 0.00% 27.53% 93.00%
Consumer Defense
0.00% 0.00% 0.99% 69.00%
Consumer Cyclical
0.00% 0.00% 10.02% 70.00%
Basic Materials
0.00% 0.00% 25.54% 80.00%

Stock Geographic Breakdown

Weighting Return Low Return High MGIFX % Rank
Non US
69.23% 0.00% 97.23% 2.00%
US
29.67% 2.02% 99.99% 97.00%

MGIFX - Expenses

Operational Fees

MGIFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 6.68% 0.30% 21.87% 4.00%
Management Fee 0.85% 0.30% 1.00% 71.00%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.04% 0.15% N/A

Sales Fees

MGIFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 4.50% 5.75% N/A
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

MGIFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 2.00% 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.

MGIFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 13.00% 128.00% 50.53%

MGIFX - Distributions

Dividend Yield Analysis

MGIFX Category Low Category High MGIFX % Rank
Dividend Yield 2.88% 0.00% 5.50% 1.00%

Dividend Distribution Analysis

MGIFX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annual Monthly Annual

Net Income Ratio Analysis

MGIFX Category Low Category High MGIFX % Rank
Net Income Ratio 2.36% -0.39% 4.38% 14.58%

Capital Gain Distribution Analysis

MGIFX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Semi-Annually Annually

Distributions History

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MGIFX - Fund Manager Analysis

Managers

Jonathan Spread


Start Date

Tenure

Tenure Rank

Dec 17, 2018

3.45

3.5%

Mr. Spread graduated from Durham University in 1999 with a BSc in Computer Science and joined Morley Fund Management (Aviva Investors) as an investment analyst covering UK and European equities. He joined Mondrian in the Non-US Equity Team in 2005 and became a member of the Global Equity Strategy Committee in 2008. In 2013 he moved to join the Global Equity team, with a focus on US equities. Mr. Spread is a CFA Charterholder and a member of the CFA Institute and the CFA Society of the UK.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.17 18.18 5.98 8.08