Emerging Markets Bonds Acc.
Emerging Markets
3.61 %
Per 10/07/26 16:31
LOW RISK
HIGH RISK
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DK0062496980
0.60 %
Profile
The Structural Investment Case for Emerging Markets Bonds
- Emerging and frontier markets are typically low- or middle-income countries based on GDP per capita.
- These countries often have growing populations and lower capital bases, leading to structurally higher growth and income convergence with developed nations.
- Many emerging markets benefit from favorable demographics, urbanization, and industrialization, supporting long-term economic growth.
- On average, emerging market sovereigns have lower debt-to-GDP ratios than developed countries, reducing default risks.
- Emerging markets generally exhibit strong fundamentals, with decreasing inflation, improving credit ratings, and improved institutions like independent central banks.
- Sovereign bonds in emerging markets offer a significant yield premium over developed market bonds, with improving fundamentals leading to lower interest rates and credit spreads over time.
- Emerging markets operate under distinct monetary and fiscal conditions, providing diversification benefits.
- However, fragile institutions and unsustainable government practices can pose risks to investors. Therefore, Sydinvest considers extensive ESG (Environmental, Social, and Governance) data when constructing portfolios.
The Profile for Sydinvest Emerging Markets Bonds
- The fund invests in sovereign bonds from emerging and frontier markets, aiming to provide excess returns through active portfolio management.
- The investment philosophy recognizes risk premiums arising from emerging market convergence.
- Lower human development and income levels increase institutional and market risks, contributing to the country risk premium, which includes political, inflation, trade, current account balance, and government budget funding risks. Growth and debt payment dynamics, along with government sustainability, are thoroughly evaluated to identify opportunities.
- Lower market cap of emerging debt issues creates liquidity premiums, revealed through systematic relative value analysis of investor base, issuer characteristics, and issuer quality.
- These risk premiums cause market prices to deviate from long-term fair values, making active management essential to unlock value.
- Sydinvest leverages its decade-long experience in hard and local currency emerging markets, with an efficient and agile investment team.
The fund's investment profile
About the philosophy behind the fund
Read moreInvestment Profile
The fund invests primarily in high-yield government bonds issued in dollars or euros from high-yield countries in Eastern Europe, Asia, Latin America, the Middle East and Africa.
Meet the team behind it
Those who manage your investment
Read more
Thomas Brund
Head of EM Debt
Chief Portfolio Manager at AL Sydbank's Asset Management - Bonds, with primary focus on global allocation in hard and local currencies and the overall investment process. Thomas Brund has a bachelor's degree in finance.
Rune Juel Hansen
Senior Portfolio Manager
Senior portfolio manager and part of AL Sydbank's Emerging Markets Debt Team with primary focus on hard currency as well as quantitative analysis, risk management and security selection in all High-Income Countries portfolios. Rune Juel Hansen has a master's degree in finance.
The practical
Read moreWho can invest in the fund?
The fund is accumulative. You can invest both free funds and pension funds in the fund. However, due to taxation, the fund is particularly suitable for investing pension funds and funds under the corporate tax scheme. Ask your bank what is best for you.
Returns (according to costs)
Returns
Per 10/07/26 16:31Today's Return +0.22 %
Return Jun: +2.24 %
Return YtD +3.61 %
NAV per. 10/07/26 16:31
| NAV | |
|---|---|
| Today's Return | 0.22 % |
| Return year to date, % | 3.61 % |
| Sell | |
| Buy | |
| NAV ultimo | 125.29 |
| Total Assets (m) | 631 DKK |
Returns - Last Update 01/07/26
| Return year to date, % | 3.78 % |
| 1 Year | 10.72 % |
| 3 Years | - |
| 5 Years | - |
| 7 Years | - |
| 10 Years | - |
NAV development
Return & Dividend
| Year | Returns | Dividend | Income on equity | Capital income | NAV per unit (End Year) |
|---|---|---|---|---|---|
| 2025 | 8.40 % | 0.00 | 0.00 | 0.00 | 120.92 |
| 2024 | 3.71 % | 0.00 | 0.00 | 0.00 | 111.55 |
| 2023 | 7.57 % | 0.00 | 0.00 | 0.00 | 107.57 |
Latest trends
| Return June | Return YtD | |
|---|---|---|
| Latest trend | 2.24 % | 3.78 % |
| Return benchmark | 1.42 % | 3.27 % |
Fund Holdings
Beholdningsliste vises primo november 2023.
Fund Holdings
| Top 10 Holdings Securities | Coupon | Country | Base currency | Proportion |
|---|---|---|---|---|
| Republic of Kenya Government Internatio 26.02.2039 | 8.70 | Kenya | USD | 3.64 % |
| Ivory Coast Government International Bo 01.04.2036 | 8.08 | Ivory Coast | USD | 3.27 % |
| Ghana Government International Bond 03.07.2029 | 5.00 | Ghana | USD | 2.97 % |
| Development Bank of Kazakhstan JSC 23.10.2029 | 5.25 | Kazakhstan | USD | 2.72 % |
| Argentine Republic Government Internati 09.01.2038 | 5.00 | Argentina | USD | 2.68 % |
| Nigeria Government International Bond 13.01.2036 | 8.63 | Nigeria | USD | 2.50 % |
| ANGOL 10 3/4 02/05/29 | 10.75 | Angola | USD | 2.48 % |
| Angolan Government International Bond 08.05.2048 | 9.38 | Angola | USD | 2.38 % |
| Benin Government International Bond 13.02.2038 | 7.96 | Benin | USD | 2.18 % |
| El Salvador 10.04.2032 | 8.25 | El Salvador | USD | 2.17 % |
| Fund Holdings: 90 | ||||
| Show all | ||||
Risk
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Potentially lower rewards
Potentially higher rewards
Risk Scale
The risk indicator indicates the fund's risk level compared to other products. The classification may change and is not necessarily a reliable indicator of the future risk profile.
Fees and Expenses
Fees and Expenses
| Fees and Expenses | Running approx. | Indirect Trade Cost | Subscription | Redemption |
|---|---|---|---|---|
| Emerging Markets Bonds Acc. | 0.60 % | 0.29 % | 0.51 % | 0.51 % |
Key Information
Key Information per. 30/6-26
| ISIN | DK0062496980 |
| Danish VP Code | 6249698 |
| Inception of Share Class | 13.10.2023 |
| Benchmark | NextGEM hedged to DKK |
| Listed | No |
| Accumulated | No |
| AGM (annual general meeting) | 24.03.2026 |
| Rec. investment horizon | Min. 4 years |
| Portfolio Manager | |
| Base currency | DKK |
| Expected annual costs | 0.60 % |
| Indirect Trade Cost | 0.29 % |
| Share Class Assets (m) | 633 DKK |
| Total Assets (m) | 953 DKK |
| Denomination | 100 |
| Tax rate 2023 | 120.92 DKK |
| NAV ultimo June 2026 | 125.49 |
| Tax Rate | - |
| Fund Holdings | 90 |
| Income type | Capital income |
| Taxation | Stock taxation |
| Dividend (2024) | - |
| Year to Date | 3.78 % |
| Deviation + (1 year) 30/6-26 | 5.85 |
| Deviation + (3 years) 30/6-26 | - |
| Sharpe Ratio (3 Years) 30/6-26 | - |
| Yield to Maturity | 7.35 % |
| Average Duration | 5,17 |