EM Local Currency Bonds EUR d
High Yield Bonds
Profile
Investment profile
The fund invests in medium-term and long-term government bonds in local currency from high-yielding countries in Eastern Europe, Asia, Latin America and Africa. The portfolio is actively managed and reflects the current assessment of which countries, currencies and bonds are considered to produce the best returns relative to risk. Return is affected by exchange rate developments.
The typical investor
The typical investor has an investment horizon of at least 3 years and is looking for a high return and high annual dividends. Investors are expected to know that the fund may experience significant price fluctuations, see “Risk factors”.
Benchmark
The objective is through international diversification to obtain a return that equals or outperforms the return of the benchmark of the unit class over a three-year period. Emerging Market Local Currency Bonds B EUR d uses the benchmark JP Morgan Global Bond Index – Emerging Markets Global Diversified unhedged to EUR.
- Portfolio Manager
Portfoliemanager:
Thomas Brund
Chief Portfolio Manager
Education: MSc
Phone: +45 7437 3300
Mail: thomas.brund@sydbank.dk
Returns
Date 08/07/20 12:08Today's Return: +0.02%
Return Jun.: -0.53%
Return YtD: -8.29%
NAV per. 08/07/20 12:08
| Today's Returns | 0.02 % |
| Return year to date, % | -8.29 % |
| Redemption | 8.91 |
| Subscription | 8.91 |
| NAV | 8.91 |
| Total Assets (m) | 5 EUR |
Returns - Last Update 01/07/20
| Return year to date, % | -8.20 % |
| 1 Year | -2.87% |
| 3 Years | 0.11% |
| 5 Years | 4.66% |
| 7 Years | 0.00% |
| 10 Years | 0.00% |
Return & Dividend
| Year | Returns | Dividend | Income on equity | Capital income | Taxfree | NAV per unit (End Year) |
|---|---|---|---|---|---|---|
| 2019 | 15.10% | 0.29 | 0.00 | 0.00 | 0.00 | 10.00 |
| 2018 | -3.60% | 0.00 | 0.00 | 0.00 | 0.00 | 8.69 |
| 2017 | -0.32% | 0.33 | 0.00 | 0.33 | 0.00 | 9.34 |
| 2016 | 13.73% | 0.25 | 0.00 | 0.25 | 0.00 | 9.61 |
| 2015 | -14.20% | 0.14 | 0.00 | 0.14 | 0.00 | 8.58 |
Latest trends
| EM Local Currency Bonds EUR d | Return June | Return YtD |
|---|---|---|
| Latest trend | -0.53% | -8.20% |
| Return benchmark | -0.50% | -6.94% |
Fund Holdings
Fund Holdings
| Top 10 Holdings | Coupon | Country | Base currency | Proportion |
|---|---|---|---|---|
| Mexican Bonos 03.06.2027 | 7.50 | Mexico | MXN | 6.98% |
| Poland 25.10.2023 | 4.00 | Poland | PLN | 6.04% |
| Poland 25.07.2026 | 2.50 | Poland | PLN | 5.91% |
| Thailand Government Bond 20.06.2031 | 3.65 | Thailand | THB | 5.05% |
| Peruvian Gov. 12.08.2032 | 6.15 | Peru | PEN | 4.34% |
| Russian Federal Bond - OFZ 07.10.2026 | 7.95 | Russia | RUB | 4.28% |
| Brazil 01.01.2025 | 9.76 | Brazil | BRL | 4.00% |
| South Africa Government Bond 31.01.2040 | 9.00 | South Africa | ZAR | 3.59% |
| Indonesia 15.06.2032 | 8.25 | Indonesia | IDR | 3.58% |
| Thailand 12.03.2028 | 1.25 | Thailand | THB | 3.54% |
| Fund Holdings: 46 | ||||
| Show all Holdings | ||||
Distribution by country
Distrubution by currency
| Base currency | Proportion |
|---|---|
| Polish zloty (PLN) | 12.01% |
| Indonesian Rupiah (IDR) | 9.92% |
| THB | 9.85% |
| Mexican peso (MXN) | 9.79% |
| Brazilian real (BRL) | 9.60% |
| Russian ruble (RUB) | 9.51% |
| South African rand (ZAR) | 6.83% |
| Colombian peso (COP) | 5.23% |
| Peruvian Nuevo Sol | 4.75% |
| Malaysian Ringgit (MYR) | 3.98% |
| Other | 18.52% |
Distribution by country
| Country | Proportion | Changes in percentage points |
|---|---|---|
| Poland | 11.95% | 1.18% |
| Thailand | 9.81% | 1.98% |
| Brazil | 9.81% | -1.34% |
| Mexico | 9.74% | -0.76% |
| Russia | 9.47% | -0.15% |
| Indonesia | 8.11% | 0.34% |
| South Africa | 6.81% | -1.41% |
| Supranationals | 5.02% | 2.46% |
| Peru | 4.75% | 2.86% |
| Other | 24.54% | -6.31% |
Distribution by region
| Region | Proportion |
|---|---|
| Eastern Europe | 33.26% |
| Latin America | 30.19% |
| Asia | 24.68% |
| Africa | 6.83% |
| Caribbean | 1.64% |
| Other | 3.39% |
Risk
Lower risk
Higher risk
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Potentially lower rewards
Potentially higher rewards
Risk Scale
Placement of the fund on the scale is determined by the fluctuations of the funds NAV over the past five years.
Historical return fluctuations p.a.
Duration
Distribution by issuer
| Distribution by issuer | Proportion |
|---|---|
| Mortgage bonds | 0.00% |
| Government bonds | 95.37% |
| QUASI-soverreign | 1.24% |
| Company | 0.00% |
| Cash | 3.39% |
Fees and Expenses
Fees and Expenses
| Fees and Expenses | Total Management Fee | ÅOP (Costs) | Indirect Trade Cost | Subscription | Redemption |
|---|---|---|---|---|---|
| EM Local Currency Bonds EUR d | 1.22 % | 1.73 % | 0.24 % | 0.00 % | 0.00 % |
Key Information
| ISIN | DK0060626364 |
| Yield to Maturity | 5,10 % |
| Average Duration | 5,72 |
| Deviation + (1 year) | 16.92 |
| Deviation + (3 years) | 11.33 |
| Danish VP Code | 6062636 |
| Sharpe Ratio (3 Years) | 0.03 |
| NAV ultimo 2019 | 10.00 EUR |
| Year to Date | -8,20 % |
| Inception of Share Class | 24.04.2015 |
| Tax Rate | - |
| Benchmark | GBI-EM Global Diversified |
| Listed | No |
| Accumulated | No |
| Share Class Assets (m) | 5 EUR |
| Total Assets (m) | 54 EUR |
| Denomination | 10 |
| Base currency | EUR |
| AGM (annual general meeting) | 01.04.2020 |
| Dividend (2019) | 0.29 |
| TER (incl. depositary and adm.exp) | 1,22 % |
| ÅOP (Costs) | 1,73 % |
| Indirect Trade Cost | 0.24 % |
| Fund Holdings | 46 |
| Rec. investment horizon | Min. 4 years |
| Portfolio Manager | Sydbank EM Debt Team |
| NAV ultimo June 2020 | 8.92 |