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

霸菱成熟及新興市場高收益債券基金 A類 Inc 歐元

IE0004851808

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

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

-

*Not include dividends (If applicable)

Fund Performances (including dividend, if any)

1 mth
+0.87%
3 mth
+1.97%
6 mth
+3.27%
1 yr
+10.78%
3 yr
+11.83%
5 yr
+32.18%

Analytical Figures (3 years)

Annualized Return
+3.80%
Annualized Volatility
+4.55%
Sharpe Ratio
+0.66

Fund Information

Fund Houses
Baring Asset Management (Asia) Limited
Launch Date
1999-01-11
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 2019-11-19)
CHF 540,022,914.72
Management Fee
1.00%
Latest Dividend
EUR 0.132200 (2019-10-31)

Sector Leaders

    No Funds

Dealing Information

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

-

Dividend Records

Dividend DateDividend Records (EUR)
2019-10-310.132200
2019-07-310.138700
2019-05-010.138400
2019-04-300.138400
2019-01-310.137040
2018-10-310.139830
2018-07-310.139640
2018-04-300.133890
2018-01-310.128130
2017-10-310.140910
2017-07-310.145240
2017-05-010.144460
2017-01-310.141760
2016-10-310.123960
2016-08-010.121820
2016-05-020.125090
2016-01-310.138240
2015-11-010.141570
2015-08-030.152180
2015-04-300.163630
2015-02-010.148920
2014-11-020.134440
2014-07-310.131450
2014-04-300.137380
2014-02-020.124060
2013-10-310.119210
2013-08-150.122000
2013-07-310.121960
2013-05-210.117700
2013-04-300.117720
2013-01-310.129420
2012-11-140.134100
2012-10-310.134100
2012-08-150.145000
2012-07-310.145030
2012-05-220.151700
2012-04-300.151740
2012-01-310.154970
2011-11-140.142700
2011-10-310.142650
2011-08-010.119870
2011-05-160.139200
2011-05-020.139190
2011-02-140.156300
2011-01-310.156290
2010-11-140.162800
2010-10-310.162780
2010-08-160.159800
2010-08-020.159750
2010-05-170.161500
2010-05-030.161540
2010-02-140.136000
2010-01-310.136040
2009-11-150.142500
2009-11-010.142460
2009-08-170.142400
2009-08-030.142390
2009-05-260.108700
2009-04-300.108700
2009-02-150.084800
2009-02-010.084780
2008-11-020.199590
2008-07-310.092660
2008-04-300.021210
2008-01-310.046810
2007-10-310.051300
2007-07-310.127450
2007-04-300.090830
2007-01-310.096290
2006-10-310.113010
2006-07-310.120360
2006-05-010.103440
2006-01-310.138420
2005-10-310.127790
2005-08-010.130210
2005-05-020.126000
2005-01-310.132000
2004-10-310.130000
2004-08-020.132000
2004-05-030.147000
2004-02-010.122000
2003-11-020.148000
2003-07-310.156000
2003-04-300.152000
2003-02-020.181000
2002-10-310.193000
2002-07-310.191251
2002-04-300.183425
2002-01-310.181818
2001-10-310.221263
2001-07-310.237556
2001-04-300.223463
2001-01-310.227716
2000-10-310.229095
2000-07-310.240148
2000-05-010.245810
2000-01-310.236018
1999-10-310.208926
1999-08-020.189933
1999-05-040.149040
1999-02-280.174200

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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