# Mondrian Investment Partners (U.S.)

Mondrian Investment Partners (U.S.) is an Asset Manager based in Radnor, United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Radnor, United States
- **Region:** North America
- **Address:** Philadelphia, PA, United States
- **Founded:** 1990
- **Assets under management:** Undisclosed
- **Website:** mondrian.com
- **LinkedIn:** https://www.linkedin.com/company/rothko-investment-strategies

## Regulatory record

- **CRD number:** 132427
- **Registration status:** Registered
- **Reports private funds:** No
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/132427

## About

Mondrian Investment Partners (U.S.), Inc. is a state-registered investment adviser in Radnor, PA. It has 22 employees. The firm is headquartered in Radnor.

## Offices

- London, United Kingdom

## People

- Clive Gillmore — CEO & Group CIO

## Questions

### How does Mondrian Investment Partners source investment ideas?

Mondrian does not rely on broker networks or market momentum for idea generation. The investment team screens global equities through a proprietary dividend-discount model that calculates an intrinsic value for every company in the coverage universe. Only securities trading at a material discount to that modeled intrinsic value enter the portfolio. The process is deliberately insulated from sell-side research consensus.

### What is the ownership structure of Mondrian Investment Partners?

Mondrian remains an independent, employee-owned firm with no external parent company. This structure has allowed the firm to maintain its value-oriented investment discipline without pressure to gather assets into trending strategies. The London and Philadelphia offices operate as a unified entity under the same ownership group.

### Does Mondrian Investment Partners manage fixed income strategies?

Yes, the firm manages global fixed income mandates alongside its equity strategies. The fixed income approach is macro-driven and relative-value based, with a strong emphasis on avoiding benchmark replication. The same valuation rigor that defines the equity process is applied to sovereign and corporate bond selection.

### Which markets and geographies does Mondrian Investment Partners cover?

The equity strategies cover all-cap international developed markets and emerging markets, with significant exposure to Europe, Japan, and Asia-Pacific. Latin America is also represented in emerging-market mandates. The firm does not manage dedicated U.S. equity strategies, maintaining its focus on non-U.S. opportunities where the dividend-discount discipline can be applied most effectively.

### How does Mondrian Investment Partners approach emerging-market investing?

Emerging-market equities are evaluated through the same dividend-discount model used for developed markets. The firm applies no separate growth or momentum overlay for emerging markets. Country allocation is a residual of bottom-up stock selection rather than a top-down macroeconomic call, though the model does incorporate country-specific sovereign risk in discount-rate calculations.

### What is Mondrian Investment Partners' investment philosophy?

The firm's investment philosophy is anchored in the belief that equity prices revert to intrinsic value over a full market cycle. Intrinsic value is defined by discounting a company's projected dividend stream back to present value. This approach leads the portfolio naturally toward companies with durable earnings, strong balance sheets, and shareholder-friendly capital allocation — and away from high-multiple growth stocks that fail the discount test.

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Last updated: 2026-06-03T20:00:00.000Z

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