Pictet Asian Local Currency Debt I Dy GBP

  • 14562.00p
    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.

  • -
    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!

  • 0.60%
    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).

  • 1.04%
    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.

  • 0.00%
    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 27 November 2020

Pictet are one of the most respected fund managers within the emerging market debt peer group. This fund seeks to outperform the HSBC Asian LocalBond Index by 1-3% p.a. gross of fees targeting USD total returns. The reference index is composed of principally of local currency sovereign debt from the asian region, approximately 13% of the index is non sovereign, the average weighted credit quality is A, duration 5yrs.

Fund summary

Sector Global Bonds
Structure OFFSHORE FUND
Launched
Size £348m
Yield 0.00%
Charging basis
Dividends paid Acc units only

Charges

Standard initial charge 0.00%
Initial charge via Bestinvest 0.00%
Annual management charge 0.60%
Ongoing charges figure 1.04%

Allocation

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Investment process

The fund is structured within a 6% tracking error relative to the reference index. Interest rate and currency risk are managed independently. Generally single country duration positions will be within 0.25 yrs of the benchmark, high conviction positions 0.5 yrs. Currency positions are typically +/- 2.5%, high conviction ideas +/- 5%. Pictet perceive themselves to generally be more conservative investors and generally prefer to invest in more liquid corporate bonds form higher rated sovereign. Historically the maximum allocation to corporate bonds has been 17%. Expected sources of alpha are 40% currency, 30% rates, 30% off benchmark positions.

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

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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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Portfolio

The fund will generally consist of 6-8 sovereign bond positions and the same number of currency positions. The max to individual corporate credit is 1%.

Key Investor Information

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