Global Bond Fund
Share Class :
 
ISIN: LU0552899485
Global Bond Fund
ISIN: LU0552899485
Share Class :

Global Bond Fund

SHARE CLASS :
ISIN: LU0552899485
 
 
 
 
Investment Objective
To generate income and the long term growth of your investment.
Investment Approach
Seeks to provide an attractive rate of return, measured in U.S. dollars, through market, instrument and currency selection. The Fund consists of domestic, international and euromarket fixed income securities of varying maturities denominated in U.S. dollars and other currencies, including emerging markets.
 
Oct '10
Share Class Launch Date
EUR
Share Class Base Currency
349
Number of holdings
2.64
Average yield to maturity
 
 
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.

The Blended Index performance shown is calculated using the JPM Global Traded Unhedged Index from inception through 31 March 2004, the FTSE WGBI Index to 31 January 2010 and the Bloomberg Barclays Global Aggregate Bond Index thereafter.

This fund received a compensation payment in connection with Prudential Equity Group's settlement with the U.S. SEC relating to market timing charges. Consequently, the net cash injection received in March 2010 and the related withholding tax, accrued in September 2010 and received in August 2011, have increased the fund’s AUM by USD 1,517,320 and USD 650,280, respectively.

As of 31-Jul-2018

As of 13-Aug-2018

As of 31-Jul-2018

As of 13-Aug-2018


Performance of 100 EUR invested
Performance of 100 EUR invested

     
Past performance is not a reliable indicator of future results.
 
 
Total Returns As of 31-Jul-2018 As of 30-Jun-2018
1 YR 3 YRS 5 YRS 10 YRS Since Inception
Share Class AH (EUR) EUR (%) -3.31 0.25 0.05 -- 0.05
1 YR 3 YRS 5 YRS 10 YRS Since Inception
Share Class AH (EUR) EUR (%) -3.31 0.76 0.24 -- 0.40
1 YR 3 YRS 5 YRS 10 YRS Since Inception
Share Class AH (EUR) EUR (%) -1.88 0.39 0.27 -- 0.06
1 YR 3 YRS 5 YRS 10 YRS Since Inception
Share Class AH (EUR) EUR (%) -1.88 1.17 1.37 -- 0.44
2011 2012 2013 2014 2015 2016 2017
Share Class AH (EUR) EUR (%) 2.32 6.76 -3.00 1.29 -5.94 0.21 6.67
2014 2015 2016 2017 2018
Share Class AH (EUR) EUR (%) 7.27 -7.26 5.30 -1.03 -3.31
 
Total Returns
As of 31-Jul-2018
TIMEFRAME Share Class AH (EUR) EUR (%)
1 Yr -3.31
3 Yrs 0.25
5 Yrs 0.05
10 Yrs --
Since Inception 0.05
TIMEFRAME Share Class AH (EUR) EUR (%)
1 Yr -3.31
3 Yrs 0.76
5 Yrs 0.24
10 Yrs --
Since Inception 0.40
As of 30-Jun-2018
TIMEFRAME Share Class AH (EUR) EUR (%)
1 Yr -1.88
3 Yrs 0.39
5 Yrs 0.27
10 Yrs --
Since Inception 0.06
TIMEFRAME Share Class AH (EUR) EUR (%)
1 Yr -1.88
3 Yrs 1.17
5 Yrs 1.37
10 Yrs --
Since Inception 0.44
TIMEFRAME Share Class AH (EUR) EUR (%)
2011 2.32
2012 6.76
2013 -3.00
2014 1.29
2015 -5.94
2016 0.21
2017 6.67
TIMEFRAME Share Class AH (EUR) EUR (%)
2014 7.27
2015 -7.26
2016 5.30
2017 -1.03
2018 -3.31
Past performance is not a reliable indicator of future results.
 
 
 
 
Composition 4 As of 30-Jun-2018
  Fund
Less than 1 Year 2.76
1 to 3 Years 10.24
3 to 5 Years 21.94
5 to 7 Years 23.72
7 to 10 Years 16.76
Greater than 10 Years 18.69
Cash & equivalents 5.88
Total 100.00
  Fund
US Dollar 43.77
Euro 25.15
Japanese Yen 17.14
British Pound 5.04
Canadian Dollar 2.50
South Korean Won 1.24
Norwegian Krone 1.00
Mexican New Peso 0.84
Polish Zloty New 0.73
Swiss Franc 0.59
Other 1.99
Total 100.00


Holdings As of 30-Jun-2018
Fund
United States Treasury, 3.125000%, 2048-05-15 3.11
Japan (Government of), 1.100000%, 2021-06-20 2.77
Italy (Republic of), 1.450000%, 2022-09-15 2.31
Japan (Government of), 1.700000%, 2033-06-20 2.28
Japan (Government of), 0.100000%, 2027-03-20 2.16
Japan (Government of), 2.000000%, 2040-09-20 2.16
Poland (Republic of), 2.250000%, 2022-04-25 2.03
United States Treasury, 3.500000%, 2039-02-15 1.96
Russian Federation, 7.000000%, 2023-08-16 1.90
Canadian Government Bond, 1.500000%, 2026-06-01 1.86
Total 22.54

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
Duration (years) 6.88 7.05
Average yield to maturity (%) 2.61 1.99
Number of holdings 344 21,800
 
 
Portfolio Managers
Managing Director
31 years industry experience
Chief Investment Officer of Global Fixed Income
30 years industry experience
Managing Director
26 years industry experience
Managing Director
27 years industry experience
Team members may be subject to change at any time without notice.
 
 
Insights by Global Fixed Income Team
Global Fixed Income Bulletin
What Can Derail the Carry Trade?
Dec 13, 2017
The Global Fixed Income team discusses how even though markets have run a long way, and future returns are likely to be more modest, the current environment is likely to continue in 2018.
Global Fixed Income Bulletin
The Macro Trends Which Matter
Jul 16, 2018
The Global Fixed Income team discusses how U.S. assets and the USD have driven performance year-to-date, but how some key macro trends are expected to drive performance for the rest of the year.
 
 
 

Please visit our Glossary page for fund related terms and definitions.

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 indicative of future results. 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 facts statement (KFS) contains this and other information about the fund. Please read the prospectus and KFS carefully before you invest.

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. Ratings do not take into account sales loads.

The Europe/Asia and South Africa category (EAA) includes funds domiciled in European markets, major cross-border Asian markets where material numbers of European UCITS funds are available (principally Hong Kong, Singapore and Taiwan), South Africa, and selected other Asian and African markets where Morningstar believes it is of benefit to investors for the funds to be included in the EAA classification system.

© 2018 Morningstar. 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.

This benchmark is based on the Official Bloomberg Barclays Global Aggregate Bond - Euro Hedged Index in Eur. A proprietary Morgan Stanley overlay has been applied to come to a return. The returns of the Index are not official returns of any Bloomberg Barclays index, nor have they been calculated, published, prepared or otherwise advised upon by Bloomberg Barclays or any of its affiliates. Barclays make no representation or warranty of any kind, either express or implied with respect to the data (or the results obtained by the use thereof).

The Bloomberg Barclays Global Aggregate Index: provides a broad-based measure of the global investment grade fixed-rate debt markets. Total Returns shown is unhedged USD.The index is unmanaged and does not include any expenses, fees or sales charges. It is not possible to invest directly in an index. The benchmark name changed from Barclays Global Aggregate Index to Bloomberg Barclays Global Aggregate Index on 24th August 2016.

The JPM Global Traded Unhedged Index: provides a broad-based measure of the global investment grade fixed-rate debt markets. Total Returns shown is unhedged USD.The index is unmanaged and does not include any expenses, fees or sales charges. It is not possible to invest directly in an index.

The FTSE WGBI Index: measures the performance of fixed-rate, local currency, and investment grade sovereign bonds. The WGBI provides a broad benchmark for the global sovereign fixed income market.

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. 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.

 

It is important that users read the Terms of Use before proceeding as it explains certain legal and regulatory restrictions applicable to the dissemination of information pertaining to Morgan Stanley Investment Management's investment products.

The services described on this website may not be available in all jurisdictions or to all persons. For further details, please see our Terms of Use.


Privacy & Cookies    •    Terms of Use

©  Morgan Stanley. All rights reserved.