NN (L) Emerging Markets Debt (Local Currency) (X Cap)

26/09/2022
42,33
Investment Scope

The fund invests in debt instruments (i.e. notes, bonds, certificates, etc) issued and/or denominated in the currencies of low or middle-income developing countries ("emerging markets") in Latin America, Asia, Central Europe, Eastern Europe and Africa. In most cases, the remaining life of these instruments is less than one year. Furthermore, the fund enters in emerging market currency forward contracts (a currency market transaction in which a seller agrees to deliver a specific currency to a buyer at some point in the future).

The fund may also invest in Chinese onshore debt securities through Bond Connect, a market facilitating investment to the Chinese bond market. Measured over a period of several years we aim to beat the performance of the benchmark JP Morgan ELMI Plus. We actively manage the fund via currency allocation, curve positioning and instrument selection. The portfolio is diversified across countries and instruments. The portfolio composition can significantly deviate from the benchmark. You can sell your participation in this fund on each (working) day on which the value of the units is calculated, which for this fund occurs daily. The fund does not aim to provide you with a dividend. It will reinvest all earnings.

 

 

 

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Past returns do not predict future returns
Historical NAV
Calendar Year Performance (NET %)
Cumulative Performance (ΝΕΤ %)
EUR1y3y5y
Fund-11,00-8,42-14,73
Share Class Benchmark-13,14-7,64-9,26

Reference Date 31.08.2022
Προφίλ Κινδύνου
1234567

Historical data, such as is used for calculating this indicator, may not be a reliable indication of the future risk profile of this fund. There is no guarantee that the risk indicator will remain unchanged, it may shift over time. The lowest category of risk does not mean that the investment is riskfree. This fund is in this specific risk category because of the behaviour of the product during the measuring period. The overall market risk, taking into account past performances and future potential evolution of the markets, associated with bonds used to reach the investment objective is considered high.

 

These financial instruments are impacted by various factors. These include, but are not limited to, the development of the financial market, the economic development of issuers of these financial instruments who are themselves affected by the general world economic situation and the economic and political conditions in each country. Expected credit risk, the risk of failure of the issuers of underlying investments is high. The Sub-Fund’s liquidity risk is set to high. Liquidity risks may arise when a specific underlying investment is difficult to sell. Moreover, currency fluctuation may impact highly the Sub-Fund’s performance. Investments in a specific theme are more concentrated than investments in various themes. No guarantee is provided as to the recovery of the initial investment. Investments through Bond Connect are subject to specific risks, including but not limited to, trading restrictions, currency risk and regulatory risk. Investors are advised to familiarize themselves with the risks of this market as outlined in the prospectus.

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Practical Info
ISIN Code:
LU0546916452
Currency:
USD
Unit Class:
X CAP
Asset Class:
Fixed Income
Region:
Emerging Markets