Emerging Markets Debt Fund
Share Class :
 
ISIN: LU0266119204
 
 
Overall Morningstar Rating
Emerging Markets Debt Fund
ISIN: LU0266119204
Share Class :

Emerging Markets Debt Fund

SHARE CLASS :
ISIN: LU0266119204
 
Overall Morningstar Rating
 
 
 
Investment Objective

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.

 
Oct '06
Share Class Launch Date
10.22
Share Class Assets
(MM USD)
5.71
Average yield to maturity
134
Number of holdings
 
 
Pricing & Performance

Past performance is not indicative of future results. Please click here for additional performance disclosures and important information, which should be reviewed carefully.

As of 30-Sep-2017

As of 18-Oct-2017


Performance of 100 EUR invested
Performance of 100 EUR invested

    
Past performance is not indicative of future results.
 
 
Total Returns As of 30-Sep-2017 As of 30-Sep-2017
1 YR 3 YRS 5 YRS 10 YRS Since Inception
Share Class AH (EUR) EUR (%) 2.32 2.82 1.45 -- 4.34
JPM Emerging Markets Bond Index Hedge to EUR (%) 2.10 4.76 3.42 -- 6.29
1 YR 3 YRS 5 YRS 10 YRS Since Inception
Share Class AH (EUR) EUR (%) 2.32 8.71 7.45 -- 59.02
JPM Emerging Markets Bond Index Hedge to EUR (%) 2.10 14.99 18.31 -- 94.66
1 YR 3 YRS 5 YRS 10 YRS Since Inception
Share Class AH (EUR) EUR (%) 2.32 2.82 1.45 -- 4.34
JPM Emerging Markets Bond Index Hedge to EUR (%) 2.10 4.76 3.42 -- 6.29
1 YR 3 YRS 5 YRS 10 YRS Since Inception
Share Class AH (EUR) EUR (%) 2.32 8.71 7.45 -- 59.02
JPM Emerging Markets Bond Index Hedge to EUR (%) 2.10 14.99 18.31 -- 94.66
2012 2013 2014 2015 2016
Share Class AH (EUR) EUR (%) 17.44 -9.75 2.13 -3.14 8.43
JPM Emerging Markets Bond Index Hedge to EUR (%) 17.87 -6.90 5.12 0.75 8.35
 
Total Returns
TIMEFRAME Share Class AH (EUR) JPM Emerging Markets Bond Index Hedge to EUR
1 Yr 2.32 2.10
3 Yrs 8.71 14.99
5 Yrs 7.45 18.31
10 Yrs -- 87.21
Since Inception 59.02 94.66
TIMEFRAME Share Class AH (EUR) JPM Emerging Markets Bond Index Hedge to EUR
1 Yr 2.32 2.10
3 Yrs 8.71 14.99
5 Yrs 7.45 18.31
10 Yrs -- 87.21
Since Inception 59.02 94.66
TIMEFRAME Share Class AH (EUR) JPM Emerging Markets Bond Index Hedge to EUR
2012 17.44 17.87
2013 -9.75 -6.90
2014 2.13 5.12
2015 -3.14 0.75
2016 8.43 8.35
Past performance is not indicative of future results.
 
 
Risk/Return StatisticsAs of 30-Sep-2017

TIMEFRAME:
    Share Class AH (EUR) Index
Alpha (%) -1.94 --
Beta 1.10 --
R squared 0.86 --
Information ratio -0.71 --
Tracking error (%) 2.76 --
Volatility (Standard deviation) (%) 7.20 6.09
Past performance is not indicative of future results.
 
 
Composition As of 30-Sep-2017
  Fund
Sovereign 61.61
Quasi-Sovereign 20.92
Corporates 11.68
Cash & equivalents 5.79
Total 100.00
  Fund
A 10.44
BBB 40.65
BB 19.70
B 20.68
CCC 3.73
Not Rated 0.06
Cash 4.75
Total 100.00


Geography As of 30-Sep-2017
  Fund
Mexico 13.64
Indonesia 9.77
Russia 8.00
Argentina 7.92
Brazil 5.82
Turkey 4.84
Ukraine 4.00
China 3.38
Venezuela 2.85
Other 33.99
Cash & equivalents 5.81
Total 100.00


Holdings As of 30-Sep-2017
Fund
Russian Federation, 4.500000%, 2022-04-04 5.61
Indonesia (Republic of), 5.875000%, 2024-01-15 2.42
Petroleos de Venezuela S.A., 6.000000%, 2026-11-15 2.09
Ukraine (Government of), 7.750000%, 2023-09-01 1.97
Brazil (Federative Republic of), 6.000000%, 2026-04-07 1.84
Philippines (Republic of), 9.500000%, 2030-02-02 1.82
Petroleos Mexicanos, 6.500000%, 2027-03-13 1.66
Indonesia (Republic of), 4.750000%, 2026-01-08 1.65
Turkey (Rep of), 3.250000%, 2023-03-23 1.60
Ukraine (Government of), 7.750000%, 2026-09-01 1.51
Total 22.17


Portfolio Characteristics As of 30-Sep-2017
Fund Index
Interest Rate Duration 6.70 6.92
Average yield to maturity 5.71 5.06
Number of holdings 134 627
 
 
Portfolio Managers
Managing Director
23 years industry experience
Managing Director
22 years industry experience
Executive Director
13 years industry experience
 
Insights by Global Fixed Income Team
Global Fixed Income Insights
NAFTA Exit, Who Really Gets Hurt?
Sep 14, 2017
The Emerging Markets Debt team discusses their analysis of who really gets hurt if the U.S. exits the North American Free Trade Agreement (NAFTA).
Global Fixed Income Bulletin
Bad Politics, Good Economies
Sep 14, 2017
The team discusses how with fundamentals and monetary policy stable, political noise has become the main source of market volatility.
 
 
 

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

The source for all performance and index data is Morgan Stanley Investment Management Limited.

Past performance is not a guarantee of future performance. The value of the investments and the income from them can go down as well as up and an investor may not get back the amount invested. Returns may increase or decrease as a result of currency fluctuations. Performance data for funds with less than one year's track record is not shown. Performance is calculated net of fees. YTD performance data is not annualised. Performance of other share classes, when offered, may differ. Please consider the investment objectives, risks, charges and expenses of the fund carefully before investing. The prospectus and key investor information document (KIID) contains this and other information about the fund. Please read the prospectus and KIID carefully before you invest.

The higher the category (1-7), the greater the potential reward, but also the greater the risk of losing the investment. Category 1 does not indicate a risk free investment. Refer to the fund's Key Investor Information document (KIID) under Resources for share class tailored risk rating and warnings.

The Ongoing Charges Figure (“OCF”) reflects the payments and expenses which cover aspects of operating the fund and is deducted from the assets over the period. It includes fees paid for investment management, trustee/custodian, and administration charges.

Total expenses ("TER") charged to the share class for the current reporting month, calculated net of any waivers and expressed as an annualised percentage of average net assets for the month.

Morningstar: The Morningstar Rating™ for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.

Source: Morningstar. Morningstar counts each share class as a separate fund for purposes of its ranking and ratings calculations. Morningstar compares mutual funds within a universe of funds with similar investment objectives, including dividend reinvestment. Past performance is no guarantee of future results. Morningstar rankings and ratings may vary for other share classes. © 2016 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/ or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

Morningstar:
Ratings as of 30/09/2016. Ratings: Morningstar, Inc. is an independent publisher of mutual fund research and ratings. Ratings reflect a fund’s risk-adjusted 3-, 5-, and 10-year total returns, including any sales charge. A Fund is rated against all other funds in its category. Overall Rating for a fund is derived from a weighted average of the ratings for the time periods indicated. 5 stars are assigned to the top 10%; 4 stars to the next 22.5%; 3 stars to the next 35%; 2 stars to the next 22.5%; and 1 star to the bottom 10%. Morningstar only rates funds with at least a 3-year history. Source: Morningstar. Morningstar counts each share class as a separate fund for purposes of its ranking and ratings calculations. Morningstar compares mutual funds within a universe of funds with similar investment objectives, including dividend reinvestment. Past performance is no guarantee of future results. Morningstar rankings and ratings may vary for other share classes. © 2015 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/ or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

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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. 

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.

 
 

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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