Ninety One Emerging Markets Local Currency Debt I GBP

  • 74.51p
    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.

  • 115.89p
    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?

  • 4.50% 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).

  • 0.89%
    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.

  • 5.50%
    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 19 January 2021, fund data last updated 10 April 2012

The fund aims to generate returns from both capital and income by investing predominantly in the local currency government debt of emerging market nations. The fund is managed with a view to outperforming the JPM GBI-EM index, a recognised emerging market local currency sovereign bond index. Historically, returns in this asset class have been generated from a combination of income, currency and managing the interest rate sensitivity of the fund. Bonds issued by major governments and companies will be more stable than those issued by emerging markets or smaller corporate issuers; in the event of an issuer experiencing financial difficulty, there may be a risk to some or all of the capital invested. Any historical or current yields quoted should not be considered reliable indicators of future performance.

Fund summary

Sector Global Emerging Markets Bond - Local Currency
Structure OEIC
Launched
Size £110m
Yield 5.50%
Charging basis Income
Dividends paid Feb, May, Aug, Nov

Charges

Standard initial charge 4.50%
Initial charge via Bestinvest 0.00%
Annual management charge 0.75%
Ongoing charges figure 0.89%

Allocation

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Investment process

The Fund aims to achieve long term total returns primarily through investment in sovereign bonds issued by emerging market borrowers, which are typically countries that are classified as low or medium income by the World Bank. This Fund is designed to benefit from the superior performance potential of these bond instruments and the currencies of these less developed economies, many of which are among the fastest-growing. Over the last decade or so the economies of emerging nations have become stronger, with better macro-economic performance and an improved political and institutional environment, consequently in the long term, investors in emerging markets debt should be more than compensated for the extra risk they may take although that's not guaranteed. Portfolio structure is driven by a bottom up relative value focus on credit / currency with a view to maximising US$ returns.

Manager research

Average monthly relative returns

  • 16/17 0.00%
  • 17/18 0.00%
  • 18/19 0.00%
  • 19/20 0.00%
  • 20/21 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

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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.

Allocation

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Sector breakdown

Debt 85.00%
Debt 8.00%
Money Market 2.00%
Index Linked 2.00%
Investment Grade Corporate Bonds 2.00%

Portfolio

The fund will have 100-160 holdings. The average credit quality of the portfolio will tend to be BBB. Exposure to corporate credit risk will generally be less than 10%.

Key Investor Information - Income

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Key Investor Information - Accumulation

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