fund

Rated

This is one of our rated funds. They’re the ones our experts believe will do well for investors over the longer term. Top of the class!

Ashmore SICAV Emerging Markets Local Currency Bond Z2 GBP Unhedged

  • 9128.00p
    Price (Inc)

    These are the shares in the fund that pay out an income to clients. The income is made up of the total dividends – the money a company can pay out to its investors – from the companies in the fund.

  • 10286.00p
    Price (Acc)

    These are the shares in the fund that don’t pay out an income to clients. Any dividends – the money a company can pay out to its investors – are reinvested into companies in the fund. Despite no income, the shares should be worth more over time. Good incentive, eh?

  • 0.00%

    Initial charge

    Some funds charge you when you first invest, which is aptly known as the initial charge. They’re usually between 3-5% but at Bestinvest, we usually don’t charge you a penny!

  • 0.75%
    Annual management charge

    This is how much the fund management company charges to run the fund. It’s like paying a babysitter, dog sitter or house sitter (that makes well-informed, heavily researched changes to improve your baby/dog/house when needed).

  • 0.92%
    Ongoing charges

    This stands for Ongoing Charges Figure. It’s the cost of running a fund and includes admin fees, manager fees, administration costs, etc.

  • 5.40%
    Yield

    How much the fund is currently paying out in income to investors. It’s NOT to be confused with the overall growth of a fund – a very different thing indeed. It’s also NOT a guarantee of future pay-outs, just a snapshot. This is more what it’s not than what it is…

Prices as at 10 July 2020

The fund’s objective is to produce returns of 1.5% to 2.5% in excess of its benchmark (the JP Morgan GBI-EM Global Diversified index) over a 3 year period. It aims to achieve this by investing in bonds issued by Emerging Market countries denominated in local currencies. Returns are generated through a blend of both capital appreciation and income.

Fund summary

Sector Global Emerging Markets Bond
Structure OFFSHORE FUND
Launched
Size £3,730m
Yield 5.40%
Charging basis
Dividends paid

Charges

Standard initial charge 0.00%
Initial charge via Bestinvest 0.00%
Annual management charge 0.75%
Ongoing charges figure 0.92%

Allocation

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Investment process

Ashmore has team-based approach to fund management with the Investment Committee having ultimate responsibility for the portfolio. The committee is comprised of Mark Coombs (CEO), Ricardo Xavier (Head of Local Currency), Jan Dehn (Head of Research), Herbert Saller (Head of External Debt), Robin Forest (Head of Corporate Debt), and Fernando Assad (Head of Multi-Asset). Their investment process centres on the committee's weekly investment meeting. These start with a global macro overview, which enables a view of the world to be formed. Followed by country analysis looking at the effects of external macro factors to determine their specific country views. Finally base on their country and global view trade ideas are discussed, agreed and then implemented. The fund invests not only in the debt securities of EM governments but also their currencies.

Ashmore in addition to managing their clients capital sees itself as having a role in facilitating the development of Emerging Market countries, through its involvement and promotion of EMD markets, and its foundation that contributes sustainably to disadvantaged communities. This offering provides access to local currency EMD, benefiting from their wealth of experience dating back to 1992 (when their first EMD fund was launched), their global network of contacts, and impressive track record of outperformance. The fund although benchmark aware, is not constrained by it; and regularly looks for opportunities outside this universe to achieve excess returns. The managers’ investment philosophy centres on the premise that EMD can be an extremely inefficient market, often exhibiting price volatility far in excess of what is proportionate for a change in the underlying issuer’s creditworthiness.

Manager research

Average monthly relative returns

  • 15/16 0.00%
  • 16/17 0.00%
  • 17/18 0.00%
  • 18/19 0.00%
  • 19/20 0.00%

Bestinvest MRI

  • 3 years 0.00%
  • 5 years 0.00%
  • Career 0.00%
  • 3 years 0.00%
  • 5 years 0.00%
  • Career 0.00%

Performance figures are based on the average of monthly percentage returns relative to the benchmark index.

Track record

Periods of worst performance

Absolute 0.00% ()
Relative 0.00% ()

About the MRI

Our unique indicator: the Bestinvest Manager Record Index (MRI) measures the likelihood that the fund manager is adding value through their decisions. It is based on their performance record over the course of their career, adjusted for the amount of risk taken. MRI is an important contributor to our fund rating system but it is also vital to take account of qualitative factors. It is also very important to select funds to form a cohesive portfolio with an appropriate overall risk level.

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Key Investor Information - Income

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Key Investor Information - Accumulation

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