EM Bonds EUR d h
High Yield Bonds
Profile
Investment profile
The fund invests in government bonds primarily issued in USD or EUR from high-yielding countries in Eastern Europe, Asia, Latin America, Africa and the Middle East. The fund’s currency risk is limited. The portfolio is actively managed and reflects the current assessment of which countries and which bonds are considered to produce the best returns relative to risk.
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
Emerging Market Bonds B EUR d uses the benchmark JP Morgan Emerging Markets Bond Index Global Diversified hedged to EUR.
- Portfolio Manager
Portfolio Manager:
Thomas Brund
Chief Portfolio Manager
Education: MSc
Phone: +45 7437 3300
Mail: thomas.brund@sydbank.dk
Returns
Date 18/09/20 12:09Today's Return: -0.23%
Return Aug.: +0.75%
Return YtD: +0.24%
NAV per. 18/09/20 12:09
| Today's Returns | -0.23 % |
| Return year to date, % | 0.24 % |
| Redemption | 7.61 |
| Subscription | 7.61 |
| NAV | 7.61 |
| Total Assets (m) | 13 EUR |
Returns - Last Update 01/09/20
| Return year to date, % | -0.14 % |
| 1 Year | 1.08% |
| 3 Years | 0.55% |
| 5 Years | 16.41% |
| 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 | 10.81% | 0.30 | 0.00 | 0.30 | 0.00 | 7.89 |
| 2018 | -9.85% | 0.27 | 0.00 | 0.27 | 0.00 | 7.38 |
| 2017 | 8.42% | 1.38 | 0.00 | 1.38 | 0.00 | 9.57 |
| 2016 | 9.48% | 0.48 | 0.00 | 0.48 | 0.00 | 9.29 |
| 2015 | -6.75% | 0.89 | 0.00 | 0.89 | 0.00 | 9.33 |
Latest trends
| Emerging Market Bonds | Return August | Return YtD |
|---|---|---|
| Latest trend | 0.75% | -0.14% |
| Return benchmark | 0.45% | 0.12% |
Fund Holdings
Fund Holdings
| Top 10 Holdings | Coupon | Country | Base currency | Proportion |
|---|---|---|---|---|
| Russian Eurobond 23.06.2027 | 4.25 | Russia | USD | 4.20% |
| Rep. of Ghana 14.10.2030 | 10.75 | Ghana | USD | 3.21% |
| IVYCST 5 1/4 03.22.30 | 5.25 | Ivory Coast | EUR | 2.51% |
| Corp Nacional del Cobre de Chile 30.09.2029 | 3.00 | Chile | USD | 2.46% |
| Indonesia 17.02.2037 | 6.63 | Indonesia | USD | 2.26% |
| Uruguay 18.06.2050 | 5.10 | Uruguay | USD | 2.22% |
| Qatar Government International Bond 16.04.2030 | 3.75 | Qatar | USD | 2.07% |
| Qatar Government International Bond 23.04.2048 | 5.10 | Qatar | USD | 1.99% |
| Egypt Government International Bond 11.04.2031 | 6.38 | Egypt | EUR | 1.96% |
| Turkey Government International Bond 26.04.2029 | 7.63 | Turkey | USD | 1.89% |
| Fund Holdings: 126 | ||||
| Show all Holdings | ||||
Distribution by country
Distribution by country
| Country | Proportion | Changes in percentage points |
|---|---|---|
| Indonesia | 7.93% | 2.92% |
| Qatar | 7.44% | 3.87% |
| Mexico | 5.85% | -0.55% |
| Romania | 4.99% | 0.31% |
| Russia | 4.77% | -1.82% |
| Ukraine | 3.96% | 0.87% |
| Turkey | 3.93% | -1.36% |
| Uruguay | 3.92% | 1.72% |
| South Africa | 3.66% | -0.06% |
| Other | 53.55% | -7.27% |
Distribution by region
| Region | Proportion |
|---|---|
| Latin America | 27.92% |
| Africa | 20.51% |
| Eastern Europe | 18.73% |
| North America | 16.94% |
| Middle East | 14.85% |
| Asia | 12.54% |
| Caribbean | 2.39% |
| Other | -13.88% |
Distrubution by currency
| Base currency | Proportion |
|---|---|
| Danish krona (DKK) | 83.19% |
| Euro (EUR) | 16.93% |
| US dollar (USD) | -0.12% |
| Other | 0.00% |
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 | 82.22% |
| QUASI-soverreign | 14.65% |
| Company | 0.00% |
| Cash | 3.13% |
Fees and Expenses
Fees and Expenses
| Fees and Expenses | Total Management Fee | ÅOP (Costs) | Indirect Trade Cost | Subscription | Redemption |
|---|---|---|---|---|---|
| EM Bonds EUR d h | 1.17 % | 1.67 % | 0.47 % | 0.00 % | 0.00 % |
Key Information per. 31/8-20
| ISIN | DK0060626281 |
| Yield to Maturity | 4,41 % |
| Average Duration | 8,00 |
| Deviation + (1 year) | 18.79 |
| Deviation + (3 years) | 11.62 |
| Danish VP Code | 6062628 |
| Sharpe Ratio (3 Years) | 0.07 |
| NAV ultimo 2019 | 7.89 EUR |
| Year to Date | -0,14 % |
| Inception of Share Class | 24.04.2015 |
| Tax Rate | - |
| Benchmark | EMBI Global Diversified |
| Listed | No |
| Accumulated | No |
| Share Class Assets (m) | 13 EUR |
| Total Assets (m) | 322 EUR |
| Denomination | 10 |
| Base currency | EUR |
| AGM (annual general meeting) | 01.04.2020 |
| Dividend (2019) | 0.30 |
| TER (incl. depositary and adm.exp) | 1,17 % |
| ÅOP (Costs) | 1,67 % |
| Indirect Trade Cost | 0.47 % |
| Fund Holdings | 127 |
| Rec. investment horizon | Min. 4 years |
| Portfolio Manager | Sydbank EM Debt Team |
| NAV ultimo August 2020 | 7.58 |