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

霸菱成熟及新興市場高收益債券基金 A類 Inc 美元 (MDis)

IE0032158457

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

0.5%

Subscription Fee
As low as 0.5 %

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

HKD4,000.00

Daily

16:30

2019-08-04

*Not include dividends (If applicable)

Fund Performances (including dividend, if any)

1 mth
+1.25%
3 mth
+1.09%
6 mth
+6.29%
1 yr
+5.64%
3 yr
+16.68%
5 yr
+13.02%

Analytical Figures (3 years)

Annualized Return
+5.28%
Annualized Volatility
+4.38%
Sharpe Ratio
+1.01

Fund Information

Fund Houses
Baring Asset Management (Asia) Limited
Launch Date
2002-11-17
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 2019-07-17)
CHF 529,779,793.88
Management Fee
1.00%
Latest Dividend
USD 0.047700 (2019-06-30)

Sector Leaders

    No Funds

Dealing Information

0.5%

Subscription Fee
As low as 0.5 %

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

HKD4,000.00

Daily

16:30

2019-08-04

Dividend Records

Dividend DateDividend Records (USD)
2019-06-300.047700
2019-06-030.047100
2019-05-010.047900
2019-04-300.047900
2019-03-310.047200
2019-02-280.047050
2019-01-310.046400
2019-01-010.045050
2018-12-020.046100
2018-10-310.047250
2018-09-300.048250
2018-09-020.048100
2018-07-310.048150
2018-07-010.047700
2018-05-310.048150
2018-04-300.048700
2018-04-020.048700
2018-02-280.049350
2018-01-310.050100
2018-01-010.050000
2017-11-300.050150
2017-10-310.050550
2017-10-010.050600
2017-08-310.050200
2017-07-310.044180
2017-07-020.043830
2017-05-310.044010
2017-05-010.043790
2017-04-020.043480
2017-02-280.043700
2017-01-310.043350
2017-01-020.043090
2016-11-300.042300
2016-10-310.042870
2016-10-020.049000
2016-08-310.049200
2016-08-010.048600
2016-06-300.047600
2016-05-310.047800
2016-05-020.047850
2016-03-310.047050
2016-02-290.045800
2016-01-310.046200
2016-01-030.046950
2015-11-300.047950
2015-11-010.053350
2015-09-300.052270
2015-08-310.053950
2015-08-030.055620
2015-06-300.056600
2015-06-010.057850
2015-04-300.058010
2015-03-310.057470
2015-03-010.053500
2015-02-010.052450
2015-01-010.052400
2014-11-300.048090
2014-11-020.054280
2014-09-300.056030
2014-08-310.056260
2014-07-310.058900
2014-06-300.059630
2014-06-020.061910
2014-04-300.061580
2014-03-310.061690
2014-03-020.062070
2014-02-020.061580
2014-01-010.050780
2013-12-010.050780
2013-10-310.050780
2013-09-300.049970
2013-09-010.049480
2013-08-080.050000
2013-07-310.050000
2013-07-070.050500
2013-06-300.050510
2013-06-100.051100
2013-06-030.051060
2013-05-210.053900
2013-04-300.053940
2013-04-080.044800
2013-04-010.044780
2013-02-280.051160
2013-01-310.056970
2013-01-010.056300
2012-12-090.054400
2012-12-020.054440
2012-11-070.059400
2012-10-310.059440
2012-10-070.053400
2012-09-300.053400
2012-09-020.058520
2012-08-080.059500
2012-07-310.059500
2012-07-080.060000
2012-07-010.060020
2012-06-110.055600
2012-05-310.055630
2012-05-220.065200
2012-04-300.065220
2012-04-090.071500
2012-04-010.071540
2012-03-080.076100
2012-02-290.076100
2012-02-090.066800
2012-01-310.076790
2012-01-090.064100
2012-01-020.064050
2011-12-070.066000
2011-11-300.066000
2011-11-070.066000
2011-10-310.066000
2011-10-090.062000
2011-10-020.061980
2011-09-070.052100
2011-08-310.052070
2011-08-080.056000
2011-08-010.055980
2011-07-070.053500
2011-06-300.053520
2011-06-080.052400
2011-05-310.052360
2011-05-090.061700
2011-05-020.061710
2011-04-070.068500
2011-03-310.068500
2011-03-070.067800
2011-02-280.067760
2011-02-070.070300
2011-01-310.070330
2011-01-030.073130
2010-12-070.061200
2010-11-300.061160
2010-11-070.068000
2010-10-310.068020
2010-10-070.084900
2010-09-300.084910
2010-09-070.065300
2010-08-310.065340
2010-08-090.072500
2010-08-020.072480
2010-07-070.071500
2010-06-300.071450
2010-06-080.050700
2010-05-310.050660
2010-05-100.065200
2010-05-030.065150
2010-04-110.087400
2010-03-310.087370
2010-03-070.060800
2010-02-280.060820
2010-02-070.059500
2010-01-310.059540
2010-01-100.065100
2010-01-030.065110
2009-12-070.071300
2009-11-300.071290
2009-11-080.069300
2009-11-010.069310
2009-10-070.074300
2009-09-300.074270
2009-09-070.064700
2009-08-310.064720
2009-08-100.067500
2009-08-030.067480
2009-07-070.064500
2009-06-300.064490
2009-06-080.066500
2009-06-010.066470
2009-05-260.061000
2009-04-300.060990
2009-04-060.056800
2009-03-310.056810
2009-03-010.039970
2009-02-010.034500
2009-01-010.058830
2008-11-300.045360
2008-11-020.030220
2008-09-300.045990
2008-08-310.044340
2008-07-310.063580
2008-06-300.068810
2008-06-020.066670
2008-04-300.057660
2008-03-310.062280
2008-03-020.065770
2008-01-310.055900
2008-01-010.055030
2007-12-020.054830
2007-10-310.076490
2007-09-300.077540
2007-09-020.050240
2007-07-310.061880
2007-07-010.081850
2007-05-310.054130
2007-04-300.057960
2007-04-010.062780
2007-02-280.049600
2007-01-310.046310
2007-01-010.044290
2006-11-300.046910
2006-10-310.049900
2006-10-010.042310
2006-08-310.050870
2006-07-310.050530
2006-07-020.051100
2006-05-310.052090
2006-05-010.047480
2006-04-020.051980
2006-02-280.045390
2006-01-310.056910
2006-01-020.052060
2005-11-300.054870
2005-10-310.050000
2005-10-020.051830
2005-08-310.054070
2005-08-010.051710
2005-06-300.046000
2005-05-310.057000
2005-05-020.051000
2005-03-310.051000
2005-02-280.050000
2005-01-310.036000
2005-01-030.067000
2004-11-300.078000
2004-10-310.065000
2004-09-300.058000
2004-08-310.055000
2004-08-020.050000
2004-06-300.052000
2004-05-310.056000
2004-05-030.045000
2004-03-310.057000
2004-02-290.050000
2004-02-010.054000
2004-01-010.066000
2003-11-300.057000
2003-11-020.059000
2003-09-300.065000
2003-08-310.054000
2003-07-310.058000
2003-06-300.059000
2003-06-020.059000
2003-04-300.057000
2003-03-310.059000
2003-03-020.052000
2003-02-020.057000
2003-01-010.066000
2002-12-010.058000

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
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