Emerging Markets Corporate Debt Fund

Share Class :
 
ISIN: LU2473713035
Marketing Communication
Emerging Markets Corporate Debt Fund
Marketing Communication
ISIN: LU2473713035
Share Class :

Emerging Markets Corporate Debt Fund

SHARE CLASS :
ISIN: LU2473713035
 

Marketing Communication

 
 
Investment Objective
To seek to maximise total return.
Investment Approach
Seeks to maximise total return, measured in U.S. dollars, primarily through investments across the credit spectrum of debt securities of corporate issuers, together with investing in debt securities of government and government related issuers located in emerging markets. The Fund intends to invest its assets in emerging market corporate debt securities that provide a high level of current income, while at the same time holding the potential for capital appreciation.
 
3.90
Duration (years)
EUR
Share Class Base Currency
214
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.

As of 30-Sep-2024

As of 14-Oct-2024

As of 30-Sep-2024

As of 14-Oct-2024


Performance of 100 EUR invested
Performance of 100 EUR invested

     
 
 
Average Annual Total Returns As of 30-Sep-2024 As of 30-Sep-2024
1 YR 3 YRS 5 YRS 10 YRS Since Inception
Share Class A (EUR) EUR (%) 9.18 -- -- -- 3.02
1 YR 3 YRS 5 YRS 10 YRS Since Inception
Share Class A (EUR) EUR (%) 9.18 -- -- -- 3.02
2023 2022 2021 2020 2019 2018 2017 2016 2015 2014
Share Class A (EUR) EUR (%) 4.62 -- -- -- -- -- -- -- -- --
Average Annual Total Returns
As of 30-Sep-2024
TIMEFRAME Share Class A (EUR) EUR (%)
1 Yr 9.18
3 Yrs --
5 Yrs --
10 Yrs --
Since Inception 3.02
As of 30-Sep-2024
TIMEFRAME Share Class A (EUR) EUR (%)
1 Yr 9.18
3 Yrs --
5 Yrs --
10 Yrs --
Since Inception 3.02
TIMEFRAME Share Class A (EUR) EUR (%)
2023 4.62
2022 --
2021 --
2020 --
2019 --
2018 --
2017 --
2016 --
2015 --
2014 --

 
 
 
Risk and Reward Profile As of 19-Feb-2024
 
 
  • The fund may be impacted by movements in the exchange rates between the fund's currency and the currencies of the fund's investments.
  • The value of bonds are likely to decrease if interest rates rise and vice versa.
  • The value of financial derivative instruments are highly sensitive and may result in losses in excess of the amount invested by the Sub-Fund.
  • Issuers may not be able to repay their debts, if this happens the value of your investment will decrease. This risk is higher where the fund invests in a bond with a lower credit rating.
  • The fund relies on other parties to fulfill certain services, investments or transactions. If these parties become insolvent, it may expose the fund to financial loss.
  • Sustainability factors can pose risks to investments, for example: impact asset values, increased operational costs.
  • There may be an insufficient number of buyers or sellers which may affect the funds ability to buy or sell securities.
  • Investment in Fixed Income Securities via the China Interbank Bond Market may also entail additional risks, such as counterparty and liquidity risk.
  • There are increased risks of investing in emerging markets as political, legal and operational systems may be less developed than in developed markets.
  • Past performance is not a reliable indicator of future results. Returns may increase or decrease as a result of currency fluctuations. The value of investments and the income from them can go down as well as up and investors may lose all or a substantial portion of his or her investment.
  • 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.
  • Investments may be in a variety of currencies and therefore changes in rates of exchange between currencies may cause the value of investments to decrease or increase. Furthermore, the value of investments may be adversely affected by fluctuations in exchange rates between the investor’s reference currency and the base currency of the investments.
  • The fund may be impacted by movements in the exchange rates between the fund's currency and the currencies of the fund's investments.
  • The value of bonds are likely to decrease if interest rates rise and vice versa.
  • The value of financial derivative instruments are highly sensitive and may result in losses in excess of the amount invested by the Sub-Fund.
  • Issuers may not be able to repay their debts, if this happens the value of your investment will decrease. This risk is higher where the fund invests in a bond with a lower credit rating.
  • The fund relies on other parties to fulfill certain services, investments or transactions. If these parties become insolvent, it may expose the fund to financial loss.
  • Sustainability factors can pose risks to investments, for example: impact asset values, increased operational costs.
  • There may be an insufficient number of buyers or sellers which may affect the funds ability to buy or sell securities.
  • Investment in Fixed Income Securities via the China Interbank Bond Market may also entail additional risks, such as counterparty and liquidity risk.
  • There are increased risks of investing in emerging markets as political, legal and operational systems may be less developed than in developed markets.
  • Past performance is not a reliable indicator of future results. Returns may increase or decrease as a result of currency fluctuations. The value of investments and the income from them can go down as well as up and investors may lose all or a substantial portion of his or her investment.
  • 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.
  • Investments may be in a variety of currencies and therefore changes in rates of exchange between currencies may cause the value of investments to decrease or increase. Furthermore, the value of investments may be adversely affected by fluctuations in exchange rates between the investor’s reference currency and the base currency of the investments.
 
 
 
 
Composition 4 As of 31-Aug-2024
Portfolio
Sovereign 2.16
Quasi-Sovereign 4.05
Corporates 84.90
Industrial 5.45
Financials 26.65
Oil & Gas 9.20
Consumer 10.09
Diversified 3.06
TMT 10.03
Infrastructure 1.18
Metals & Mining 4.99
Pulp & Paper 0.44
Transport 1.11
Real Estate 4.32
Utilities 7.91
Other 4.51
Cash & Equivalents 8.87
 
May not sum to 100% due to rounding.


Geography4 As of 31-Aug-2024
  Fund
Brazil 10.29
China 7.33
Mexico 5.59
Colombia 4.98
United Arab Emirates 4.77
India 4.16
Hong Kong 3.93
Macau 3.91
Saudi Arabia 3.75
Other 42.42
Cash 8.88
 
May not sum to 100% due to rounding.


Holdings As of 31-Aug-2024
Fund
Petroleos Mexicanos 1.88
Digicel Intermediate Holdings Ltd / Digi 1.84
Tbc Banki Ss 1.60
Sunrisemezz plc 1.60
Sammineracao 1.52
Sands China Ltd 1.41
Ohi Group S.A. 1.41
St Marys Cement Inc Canada 1.39
Auna Saa 1.30
Aia Group Ltd 1.30
Total 15.25

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
Interest Rate Duration (years) 4.17
Average yield to maturity (%) 7.58
Number of holdings 214
 
 
 

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2 JP Morgan CEMBI Broad Diversified Index a global, liquid corporate emerging-markets benchmark that tracks U.S.-denominated corporate bonds issued by emerging-markets entities.

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.

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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