Barings Developed and Emerging Markets High Yield Bond Fund A Inc USD

霸菱成熟及新興市場高收益債券基金 A類 Inc 美元

IE0000835953

Risk Rating: Level 4

iFund risk rating methodology is a qualitative and quantitative assessment of a single fund’s geographic and asset class focus, investment style and any potential risk factors, as measured from one (1) (lowest risk) to six (6) (highest risk). For the funds with risk rating three (3) or four (4), these are mainly aimed at providing income and capital appreciation to investors by investing primarily in balanced portfolio, including high yield bonds and global equities etc. For more details, please refer to the Due Diligence section under the Procedures page.

Non-dealing Hours

Dealing Information

0%

Subscription Fee
As low as 0 %

A net deposit amount of HK$1,000,000 or above is required. For details, please refer to the iFund Account Fee Chart.

Secure Transaction

Derivatives knowledge not required

HKD4,000.00Min. Subscription

1.00%

HKD4,000.00Min. Subscription

AUD / HKD / EUR / GBP / USD

HKD4,000.00Min. Subscription

HKD4,000.00

*Not include dividends (If applicable)

Fund Performances (including dividend, if any)

1 mth
+1.51
3 mth
+2.53
6 mth
+9.08
1 yr
+5.32
3 yr
+18.95
5 yr
+12.04

Analytical Figures (3 years)

Annualized Return
+5.95
Annualized Volatility
+4.34
Sharpe Ratio
+0.91

Fund Information

Fund Houses
Baring Asset Management (Asia) Limited
Launch Date
1993-07-18
Fund Manager
Ece Ugurtas
Manager Start Date
Ece Ugurtas (Start Date: 2007-09-13)
Geographical Focus
Global
Asset Class/ Sector
Fixed Income - High yield
Risk Rating
Risk Level 4

iFund risk rating methodology is a qualitative and quantitative assessment of a single fund’s geographic and asset class focus, investment style and any potential risk factors, as measured from one (1) (lowest risk) to six (6) (highest risk). For the funds with risk rating three (3) or four (4), these are mainly aimed at providing income and capital appreciation to investors by investing primarily in balanced portfolio, including high yield bonds and global equities etc. For more details, please refer to the Due Diligence section under the Procedures page.

Fund AUM(As of 2019-06-24)
CHF 525,339,724
Management Fee
1.00%
Latest Dividend
USD 0.155600 (2019-05-01)

Sector Leaders

    No Funds

Dealing Information

0%

Subscription Fee
As low as 0 %

A net deposit amount of HK$1,000,000 or above is required. For details, please refer to the iFund Account Fee Chart.

Secure Transaction

Derivatives knowledge not required

HKD4,000.00Min. Subscription

1.00%

HKD4,000.00Min. Subscription

AUD / HKD / EUR / GBP / USD

HKD4,000.00Min. Subscription

HKD4,000.00

Dividend Records

Dividend DateDividend Records (USD)
2019-05-010.155600
2019-04-300.155600
2019-01-310.157920
2018-10-310.159140
2018-07-310.164400
2018-05-010.162500
2018-04-300.162450
2018-01-310.160090
2017-10-310.164530
2017-07-310.170940
2017-05-010.158530
2017-01-310.152900
2016-10-310.135740
2016-08-010.135780
2016-05-020.143010
2016-01-310.151380
2015-11-010.156630
2015-08-030.168800
2015-04-300.177680
2015-02-010.174880
2014-11-020.170790
2014-07-310.178590
2014-04-300.190180
2014-02-020.168070
2013-10-310.161210
2013-08-150.160400
2013-07-310.160440
2013-05-210.151700
2013-04-300.151710
2013-02-140.170200
2013-01-310.170210
2012-11-140.173600
2012-10-310.173560
2012-08-150.177300
2012-07-310.177310
2012-05-220.197000
2012-04-300.196990
2012-02-070.201400
2012-01-310.201400
2011-11-140.201500
2011-10-310.201520
2011-08-150.170700
2011-08-010.170720
2011-05-160.200400
2011-05-020.200430
2011-02-140.207200
2011-01-310.207220
2010-11-140.221100
2010-10-310.221080
2010-08-160.197000
2010-08-020.197030
2010-05-170.215800
2010-05-030.215830
2010-02-140.198200
2010-01-310.198150
2009-11-150.210900
2009-11-010.210920
2009-08-170.200800
2009-08-030.200760
2009-05-170.158800
2009-04-300.158830
2009-02-150.140000
2009-02-010.139950
2008-11-160.120000
2008-11-020.121330
2008-08-140.200000
2008-07-310.201270
2008-05-140.190000
2008-04-300.187610
2008-03-100.120000
2008-02-140.170000
2008-01-310.166500
2008-01-070.200000
2008-01-060.190000
2008-01-010.170000
2007-11-140.210000
2007-10-310.206370
2007-08-150.200000
2007-07-310.200210
2007-05-150.170000
2007-04-300.171740
2007-02-140.140000
2007-01-310.137250
2007-01-100.210000
2007-01-070.200000
2007-01-040.170000
2007-01-010.140000
2006-11-140.140000
2006-10-310.144420
2006-08-150.160000
2006-07-310.155040
2006-05-150.150000
2006-05-010.146240
2006-02-140.170000
2006-02-050.150000
2006-01-310.166740
2006-01-100.140000
2006-01-080.160000
2006-01-020.170000
2005-11-140.160000
2005-10-310.156340
2005-08-150.160000
2005-08-010.155880
2005-05-160.150000
2005-05-020.152000
2005-03-060.150000
2005-02-140.180000
2005-02-070.160000
2005-01-310.183000
2005-01-100.160000
2005-01-030.180000
2004-11-230.180000
2004-10-310.180000
2004-08-240.160000
2004-08-020.159000
2004-05-180.150000
2004-05-030.152000
2004-04-040.150000
2004-03-070.160000
2004-02-240.180000
2004-02-010.180000
2004-01-110.180000
2003-11-250.180000
2003-11-020.181000
2003-08-260.180000
2003-07-310.179000
2003-05-200.170000
2003-04-300.170000
2003-03-100.180000
2003-03-020.190000
2003-02-250.190000
2003-02-020.186000
2003-01-070.180000
2002-11-260.190000
2002-10-310.191000
2002-08-270.190000
2002-07-310.188000
2002-05-210.170000
2002-04-300.166000
2002-02-190.160000
2002-01-310.158000
2002-01-100.190000
2001-11-270.200000
2001-10-310.200000
2001-08-280.210000
2001-07-310.210000
2001-05-220.200000
2001-04-300.200000
2001-02-200.210000
2001-01-310.210000
2000-11-210.200000
2000-10-310.200000
2000-08-220.220000
2000-07-310.220000
2000-05-230.220000
2000-05-010.220000
2000-02-220.230000
2000-02-060.220000
2000-01-310.230000
2000-01-100.200000
2000-01-030.230000
1999-11-230.220000
1999-10-310.220000
1999-08-240.200000
1999-08-020.200000
1999-06-220.160000
1999-05-030.160000
1999-04-050.160000
1999-03-230.190000
1999-03-070.200000
1999-03-010.190000
1999-02-020.190000
1999-01-100.220000
1998-12-150.210000
1998-11-300.210000
1998-09-220.230000
1998-08-310.230000
1998-06-230.230000
1998-06-010.230000
1998-03-240.220000
1998-03-010.220000
1998-02-050.230000
1998-01-110.210000
1997-12-160.210000
1997-11-300.210000
1997-09-230.200000
1997-09-020.200000
1997-06-240.200000
1997-06-030.200000
1997-04-060.200000
1997-03-250.180000
1997-03-090.200000
1997-03-020.180000
1997-01-120.210000
1996-12-170.190000
1996-12-020.190000
1996-09-240.210000
1996-09-020.210000
1996-06-180.220000
1996-06-040.220000
1996-05-060.220000
1996-03-260.210000
1996-03-110.190000
1996-02-290.210000
1996-01-020.210000
1995-12-190.210000
1995-12-030.210000
1995-10-020.220000
1995-09-260.160000
1995-09-030.160000
1995-06-270.230000
1995-05-310.230000
1995-04-110.210000
1995-03-280.220000
1995-03-090.220000
1995-01-050.230000
1994-12-200.260000
1994-12-010.260000
1994-09-200.210000
1994-09-010.210000
1994-06-290.210000
1994-06-020.210000
1994-04-040.220000
1994-03-300.220000
1994-03-060.210000
1994-03-030.220000
1994-02-130.260000
1993-12-200.290000
1993-12-020.290000

Investment Objective

The investment objective of the Fund is to produce a high level of current yield in US dollar terms, commensurate with an acceptable level of risk as determined by the Manager in its reasonable discretion. Any capital appreciation will be incidental.

Nature and Extent of Risks

Investment involves risks. Please refer to the offering document for details including the risk factors.
1. Investment risk
- The Fund’s investment portfolio may fall in value due to any of the key risk factors below and therefore your investment in the Fund may suffer losses. The Fund is an investment fund and is not in the nature of a bank deposit. There is no guarantee of repayment of principal.
2. Risks associated with sub-investment grade securities
- The Fund may invest in sub-investment grade securities or unrated. Such securities are generally subject to lower liquidity, higher volatility and greater risk of loss of principal and interest than high-rated debt securities.
3. Credit risk
- The Fund is exposed to the credit/default risk of issuers of debt securities that the Fund may invest in.
4. Interest rate risk
- Investment in the Fund is subject to interest rate risk. In general, the prices of debt securities rise when interest rates fall, whilst their prices fall when interest rates rise.
5. Volatility and liquidity risk
- The debt instruments in which the Fund invests may not be traded on an active secondary market. The prices of securities traded in such markets may be subject to fluctuations. The bid and offer spreads of the price of such securities may be large and the Fund may incur significant trading costs.
6. Downgrading risk
- The credit rating of a debt instrument or its issuer may subsequently be downgraded. In the event of such downgrading, the value of the Fund may be adversely affected. The Investment Manager may or may not be able to dispose of the debt instruments that are being downgraded.
7. Sovereign debt risk
- The Fund’s investment in securities issued or guaranteed by governments may be exposed to political, social and economic risks. In adverse situations, the sovereign issuers may not be able or willing to repay the principal and/or interest when due or may request the Fund to participate in restructuring such debts. The Fund may suffer significant losses when there is a default of sovereign debt issuers.
8. Valuation risk
- Valuation of the Fund’s investments may involve uncertainties and judgmental determinations. If such valuation turns out to be incorrect, this may affect the net asset value calculation of the Fund.
9. Credit rating risk
- Credit ratings assigned by rating agencies are also subject to limitations and do not guarantee the creditworthiness of the security and/or issuer at all times.
10. Emerging market investment risk
- The Fund may invest in securities of issuers operating in emerging markets. Investing in emerging markets may involve increased risks and special considerations not typically associated with investment in more developed markets, such as liquidity risks, currency risks/control, political and economic uncertainties, legal and taxation risks, settlement risks, custody risk and the likelihood of a high degree of volatility.
11. Investment in specific countries or region
- The Fund’s investments may be concentrated in specific countries or regions. The value of the Fund may be more volatile than that of a fund having a more diverse portfolio of investments.
- The value of the Fund may be more susceptible to adverse economic, political, policy, foreign exchange, liquidity, tax, legal or regulatory event affecting the specific country or region market.
- In light of ongoing concerns on the sovereign debt risk of certain countries within the Eurozone, the Fund’s investments in the region may be subject to higher volatility, liquidity, currency and default risks. Any adverse events, such as credit downgrade of a sovereign or exit of EU members from the Eurozone, may have a negative impact on the value of the Fund.
12. Risks associated with derivatives
- The Fund may have exposure to derivatives for investment purposes or for efficient portfolio management. Risks associated with derivatives include counterparty/credit risk, liquidity risk, valuation risk, volatility risk and over-the-counter transaction risk. The leverage element/component of a derivative can result in a loss significantly greater than the amount invested in the derivative by the Fund. Exposure to derivatives may lead to a high risk of significant loss by the Fund.
- Furthermore, there is no guarantee that the Fund’s use of derivatives for hedging will be entirely effective and in adverse situations, where the use of derivatives becomes ineffective, the Fund may suffer significant loss.
13. Liquidity risk
- Market liquidity in the emerging markets may be lower than the more developed markets so that the purchase and sale of holding may take longer. The Fund may also encounter difficulties in disposing of securities or derivatives at their fair market price.
14. Counterparty risk
- Counterparty risk is the risk that an organization does not pay out on a bond or other trade or transaction when it is supposed to. If a counterparty fails to honour its obligations in a timely manner and the Fund is delayed or prevented from exercising its rights with respect to the investments in its portfolio, it may experience a decline in the value of its position, lose income and/or incur costs associated with asserting its rights.
15. Risks of investing convertible bonds
- Convertible bonds are a hybrid between debt and equity, permitting holders to convert into shares in the company issuing the bond at a specified future date. As such, convertibles will be exposed to equity movement and greater volatility than straight bond investments. Investments in convertible bonds are subject to the same interest rate risk, credit risk, liquidity risk and prepayment risk associated with comparable straight bond investments.
16. Currency risk
- The underlying investments of the Fund may be denominated in currencies other than the base currency of the Fund. Also, a class of units of the Fund may be designated in a currency other than the base currency of the Fund. The net asset value of the Fund may be affected unfavourably by fluctuations in the exchange rates between these currencies and the base currency and by changes in exchange rate controls.
17. Charges deducted from capital/risks relating to distribution
- Some or all of the management fee and other fees and expenses of the Fund may be paid out of capital. Payment of fees and expenses in such manner would result in an increase in distributable income and in the event the Fund pays a dividend having charged fees and expenses to capital, this would effectively amount to paying dividends out of capital.
- The Manager may also distribute such part of any capital gains less realised and unrealised capital losses as, in its opinion, is appropriate to maintain a satisfactory level of distribution.
- The payment of distributions out of unrealised capital gains or the payment of distributions effectively out of capital amounts to a return or withdrawal of part of an investor’s original investment or from any capital gains attributable to that original investment. Any distributions involving payment of unrealised capital gains or payment effectively out of the Fund’s capital (as the case may be) may result in an immediate reduction of the Fund’s net asset value per unit.
- The distribution amount and net asset value of the hedged class may be adversely affected by differences in the interest rates of the reference currency of the hedged class and the Fund’s base currency, resulting in an increase in the amount of distribution that is paid out of capital and hence a greater erosion of capital than other non-hedged classes.

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852
3896 3896

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