PICTET ASIAN LOCAL CURRENCY DEBT I DY GBP

Invests in Asia local currency sovereign debt.

  • 13796.00p Price (Inc)
  • - Price (Acc)
  • 0.00% 0.00%

    Initial charge
  • 0.60% Annual management charge
  • 1.04% Ongoing charges
  • 0.00% Yield

Fund data last updated 18 October 2019

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 April, 2010
Size £345m
Yield 0.00%
Charging basis
Dividends paid Acc units only

Charges

Initial charge 0.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 0.60%
Ongoing charges figure 1.04%

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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

Bestinvest MRI

14/15 15/16 16/17 17/18 18/19 3 years 5 years Career 3 years 5 years Career
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 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.

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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 Documents

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