Global Convertible Bond Fund
Share Class :
ISIN: LU0410168768
Global Convertible Bond Fund
ISIN: LU0410168768
Share Class :

Global Convertible Bond Fund

ISIN: LU0410168768
Investment Objective
To generate income and the long term growth of your investment.
Investment Approach
Seeks long-term capital appreciation, measured in U.S. dollars, through investment primarily in convertible bonds issued by companies organised or operating in either the developed or emerging markets which will be denominated in global currencies.
Share Class Base Currency
Duration (years)
Conversion Premium
Current Yield
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 ICE BofAML G300 Global Convertible Index Local Currency to 31 October 2005, the ICE BofAML G300 Global Convertible Index USD Hedged to 30 April 2011 and the Thomson Reuters Convertible Global Focus (USD Hedged) Index thereafter.

As of 31-Jul-2019

As of 16-Aug-2019

As of 31-Jul-2019

As of 16-Aug-2019

Performance of 100 EUR invested
Performance of 100 EUR invested

Past performance is not a reliable indicator of future results.
Total Returns Average Annual Total Returns As of 31-Jul-2019 As of 30-Jun-2019
1 YR 3 YRS 5 YRS 10 YRS Since Inception
Share Class AH (EUR) EUR (%) 1.23 1.65 0.33 3.51 5.05
1 YR 3 YRS 5 YRS 10 YRS Since Inception
Share Class AH (EUR) EUR (%) 1.23 5.04 1.64 41.19 66.62
Morningstar Category Average (%) 0.17 -- -- -- --
1 YR 3 YRS 5 YRS 10 YRS Since Inception
Share Class AH (EUR) EUR (%) -0.54 2.20 0.04 3.74 4.98
1 YR 3 YRS 5 YRS 10 YRS Since Inception
Share Class AH (EUR) EUR (%) -0.54 6.75 0.19 44.37 64.87
Morningstar Category Average (%) -0.55 -- -- -- --
2018 2017 2016 2015 2014 2013 2012
Share Class AH (EUR) EUR (%) -6.72 3.48 -0.06 -0.25 3.06 13.46 7.72
2015 2016 2017 2018 2019
Share Class AH (EUR) EUR (%) 2.25 -5.36 5.61 -1.74 1.23
Total Returns
As of 31-Jul-2019
TIMEFRAME Share Class AH (EUR) EUR (%)
1 Yr 1.23
3 Yrs 1.65
5 Yrs 0.33
10 Yrs 3.51
Since Inception 5.05
TIMEFRAME Share Class AH (EUR) EUR (%) Morningstar Category Average (%)
1 Yr 1.23 0.17
3 Yrs 5.04 --
5 Yrs 1.64 --
10 Yrs 41.19 --
Since Inception 66.62 --
As of 30-Jun-2019
TIMEFRAME Share Class AH (EUR) EUR (%)
1 Yr -0.54
3 Yrs 2.20
5 Yrs 0.04
10 Yrs 3.74
Since Inception 4.98
TIMEFRAME Share Class AH (EUR) EUR (%) Morningstar Category Average (%)
1 Yr -0.54 -0.55
3 Yrs 6.75 --
5 Yrs 0.19 --
10 Yrs 44.37 --
Since Inception 64.87 --
TIMEFRAME Share Class AH (EUR) EUR (%)
2018 -6.72
2017 3.48
2016 -0.06
2015 -0.25
2014 3.06
2013 13.46
2012 7.72
TIMEFRAME Share Class AH (EUR) EUR (%)
2015 2.25
2016 -5.36
2017 5.61
2018 -1.74
2019 1.23
Past performance is not a reliable indicator of future results.
Composition 4 As of 31-Jul-2019
Information Technology 23.78
Consumer Discretionary 12.27
Communication Services 12.00
Health Care 10.89
Industrials 9.39
Real Estate 7.96
Materials 7.70
Financials 5.61
Energy 2.48
Utilities 2.18
Other 2.04
Cash & equivalents 3.69
Total 100.00

Geography4 As of 31-Jul-2019
Americas 46.62
EMEA 28.75
Asia & Other 20.94
Cash & equivalents 3.69
Total 100.00

Holdings As of 31-Jul-2019
Tesla Motors Inc, 1.250000%, 2021-03-01 2.75
Microchip Technology Inc, 1.625000%, 2027-02-15 2.53
Splunk Inc, 0.500000%, 2023-09-15 1.96
Dish Network Corp, 2.375000%, 2024-03-15 1.94
Palo Alto Networks Inc, 0.750000%, 2023-07-01 1.49
Kyushu Electric Power Co. Inc, 0.000000%, 2022-03-31 1.46
China Evergrande Group, 4.250000%, 2023-02-14 1.43
Sika AG, 0.150000%, 2025-06-05 1.37
Deutsche Wohnen AG, 0.325000%, 2024-07-26 1.31
Nxp Semiconductors NV, 1.000000%, 2019-12-01 1.30
Total 17.54

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) 3.43 3.01
Delta (equity sensitivity) 43.90 41.30
Current Yield (%) 0.90 0.88
Conversion premium 48.08 38.00

** Calendar Year Return (%) is available by selecting the fund name in the pricing table.

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 investor information document (KIID) contains this and other information about the fund. Please read the prospectus and KIID 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.

© 2019 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.

The Thomson Reuters Convertible Global Focus USD Hedged Index: is a market weighted index with a minimum size for inclusion of $500 million (US), 200 million (Europe), 22 billion Yen, and $275 million (Other) of Convertible Bonds with an Equity Link.

ICE BofAML G300 Global Convertible Index - Local Currency is a global convertible index composed of companies representative of the market structure of countries in North America, Europe and the Asia/Pacific region. It is composed of securities denominated in their respective local currencies. 

ICE BofAML G300 Global Convertible Index USD Hedged is a global convertible index composed of companies representative of the market structure of countries in North America, Europe and the Asia/Pacific region. It is hedged to the U.S. dollar. 

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. For additional information regarding sector classification/definitions please visit and the glossary page. 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.

For performance purposes, if the time period being examined commences before the Global Bond Fund AH Share Class was launched, then the return is a blend of the Global Convertible Bond (Euro) Fund Class A to 19 March 2009 and the Global Bond Fund Class AH thereafter. This has been achieved by chain linking the respective share classes.

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.