Emerging Markets Debt Fund

Share Class :
 
ISIN: LU0073230004
Marketing Communication
Emerging Markets Debt Fund
Marketing Communication
ISIN: LU0073230004
Share Class :

Emerging Markets Debt Fund

SHARE CLASS :
ISIN: LU0073230004
 

Marketing Communication

 
 
Investment Objective
To generate income and the long term growth of your investment.
Investment Approach
Seeks to maximise total return, measured in U.S. dollars, through investment in the debt securities of government and government-related issuers located in emerging countries.
 
Feb '97
Share Class Launch Date
36.53
Share Class Assets
(MM USD)
8.15
Average yield to maturity
166
Number of holdings

The value of the investments and the income from them will vary and there can be no assurance that the Fund will achieve its investment objectives.

 
 
Pricing & Performance

Past performance is not a reliable indicator of future results. Returns may increase or decrease as a result of currency fluctuations. All performance data is calculated NAV to NAV, net of fees, and does not take account of commissions and costs incurred on the issue and redemption of units. The sources for all performance and Index data is Morgan Stanley Investment Management. Please click here for additional performance disclosures and important information, which should be reviewed carefully.

Blended Benchmark refers to performance of Fund's benchmark since inception - 01 April 1995 to 08 June 2020 – J.P. Morgan Emerging Markets Bond Index Global; 08 June 2020 and beyond – J.P. Morgan Emerging Markets Bond Index Global Diversified.

As of 31-May-2022

As of 24-Jun-2022

As of 31-May-2022

As of 24-Jun-2022


Performance of 100 USD invested
Performance of 100 USD invested

     
 
 
Average Annual Total Returns As of 31-May-2022 As of 31-Mar-2022
1 YR 3 YRS 5 YRS 10 YRS Since Inception
Share Class A USD (%) -16.21 -2.59 -1.18 1.26 5.54
Blended Benchmark (%) -15.38 -1.80 -0.09 2.90 6.90
1 YR 3 YRS 5 YRS 10 YRS Since Inception
Share Class A USD (%) -7.34 -0.36 0.60 1.73 5.86
Blended Benchmark (%) -7.44 0.32 1.55 3.39 7.19
2021 2020 2019 2018 2017 2016 2015 2014 2013 2012
Share Class A USD (%) -2.86 6.06 13.73 -7.59 9.41 9.81 -2.71 2.21 -9.48 17.95
Blended Benchmark (%) -1.80 6.45 14.42 -4.61 9.32 10.19 1.23 5.53 -6.58 18.54
Average Annual Total Returns
As of 31-May-2022
TIMEFRAME Share Class A USD (%) Blended Benchmark (%)
1 Yr -16.21 -15.38
3 Yrs -2.59 -1.80
5 Yrs -1.18 -0.09
10 Yrs 1.26 2.90
Since Inception 5.54 6.90
As of 31-Mar-2022
TIMEFRAME Share Class A USD (%) Blended Benchmark (%)
1 Yr -7.34 -7.44
3 Yrs -0.36 0.32
5 Yrs 0.60 1.55
10 Yrs 1.73 3.39
Since Inception 5.86 7.19
TIMEFRAME Share Class A USD (%) Blended Benchmark (%)
2021 -2.86 -1.80
2020 6.06 6.45
2019 13.73 14.42
2018 -7.59 -4.61
2017 9.41 9.32
2016 9.81 10.19
2015 -2.71 1.23
2014 2.21 5.53
2013 -9.48 -6.58
2012 17.95 18.54

 
 
Risk/Return Statistics

TIMEFRAME:
    Share Class A Index
Excess Return (%) -0.78 --
Alpha (%) -0.59 --
Beta 1.08 1.00
Information ratio -0.50 --
R squared 0.99 1.00
Sharpe ratio -0.27 -0.22
Tracking error (%) 1.57 --
Volatility (Standard deviation) (%) 12.19 11.23
 
 
 
 
Composition 4 As of 31-May-2022
  Fund
Sovereign 73.52
Quasi-Sovereign 18.30
Corporates 7.11
Cash 1.06
  Fund
AA 7.37
A 8.56
BBB 29.65
BB 23.78
B 20.95
CCC 4.86
CC 2.76
D 0.23
Not Rated 0.76
Cash 1.06
 
May not sum to 100% due to rounding.


Geography4 As of 31-May-2022
  Fund
Mexico 6.34
Indonesia 5.03
Dominican Republic 4.42
Qatar 4.35
Brazil 3.95
China 3.83
United Arab Emirates 3.78
Oman 3.41
Nigeria 3.25
Other 60.57
Cash 1.06
 
May not sum to 100% due to rounding.


Holdings As of 31-May-2022
Fund
Qatar (State of), 4.817000%, 2049-03-14 2.17
Petroleos Mexicanos, 6.700000%, 2032-02-16 2.11
Oman, Sultanate of (Government), 6.000000%, 2029-08-01 2.09
Philippines (Republic of), 9.500000%, 2030-02-02 2.02
Three Gorges Finance I (Cayman Islands), 3.700000%, 2025-06-10 1.67
Cote D Ivoire (Republic of), 4.875000%, 2032-01-30 1.49
Qatar (State of), 4.000000%, 2029-03-14 1.42
Petronas Capital Ltd., 3.500000%, 2030-04-21 1.38
Indonesia (Republic of), 4.125000%, 2025-01-15 1.36
Dominican Republic, 5.875000%, 2060-01-30 1.35
Total 17.06

These securities and percentage allocations are only for illustrative purposes and do not constitute, and should not be construed as, investment advice or recommendations with respect to the securities or investments mentioned.



Portfolio Characteristics
Fund Index
Interest Rate Duration (years) 7.24 7.15
Average yield to maturity (%) 8.15 6.98
Number of holdings 166 947
 
 
 

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Performance data quoted is based on average annualized returns and net of fees.

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2 Effective 08 June 2020, the Fund's primary benchmark index has changed to J.P. Morgan Emerging Markets Bond Index Global Diversified.

J.P. Morgan Emerging Markets Bond Index Global Diversified – tracks total returns for traded external debt instruments in the emerging markets, and is an expanded version of the EMBI+. As with the EMBI+, the EMBI Global includes US dollar-denominated Brady bonds, loans, and Eurobonds with an outstanding face value of at least $500 million.

3 Entry Charge is a maximum possible figure. In some cases you might pay less, you can find this out from your financial adviser. Ongoing Charges reflect the payments and expenses incurred during the fund's operation and are deducted from the assets of the fund over the period. It includes fees paid for investment management (Management Fee), trustee/custodian, and administration charges. The Minimum Initial Investment/Minimum Subsequent Investment amounts may be in US Dollars (or the Euro Yen or Sterling equivalent of the US Dollar amount). For more information please see the Charges and Expenses section of the prospectus.

4 May not sum to 100% due to rounding. Quality distribution data for securities is sourced from Fitch, Moody's and S&P. Where the credit ratings for individual securities differ between the three ratings agencies, the 'highest' rating is applied. The rating of credit default swaps is based on the 'highest' rating of the underlying reference bond. 'Cash' includes investments in short term instruments, including investments in Morgan Stanley liquidity funds. Cash & Equivalents are defined as the value of assets that can be converted into cash immediately. These include commercial paper, open FX transactions, Treasury bills and other short-term instruments.  Such instruments are considered cash equivalents because they are deemed liquid and not subject to significant risk of changes in values.

This communication was issued by Morgan Stanley Asia Limited for use in Hong Kong, and its contents have not been reviewed by the Securities & Futures Commission of Hong Kong.

Only A and C share classes of the Fund are authorized by the Securities & Futures Commission of Hong Kong to be offered to the public in Hong Kong. 

WAM is the weighted average maturity of the portfolio. The WAM calculation utilizes the interest-rate reset date, rather than a security's stated final maturity, for variable- and floating- rate securities. By looking to a portfolio's interest rate reset schedule in lieu of final maturity dates, the WAM measure effectively captures a fund's exposure to interest rate movements and the potential price impact resulting from interest rate movements.

 

WAL is the weighted average life of the portfolio. The WAL calculation utilizes a security's stated final maturity date or, when relevant, the date of the next demand feature when the fund may receive payment of principal and interest (such as a put feature). Accordingly, WAL reflects how a portfolio would react to deteriorating credit (widening spreads) or tightening liquidity conditions.

 
♰♰

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