Baring International Bond Fund A Inc EUR

霸菱國際債券基金 A類 Inc 歐元

IE0004866996

Risk Rating: Level 2

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 one (1) or two (2), these are mainly aimed at providing capital preservation for investors by investing primarily in money market instruments and, investment grade sovereign bonds etc. For more details, please refer to the Due Diligence section under the Procedures page.

Non-dealing Hours
EUR

22.61

Latest Price: 2019-05-15

Dealing Information

0%

Subscription Fee
As low as 0 %

Secure Transaction

Derivatives knowledge not required

HKD4,000.00Min. Subscription

0.75%

HKD4,000.00Min. Subscription

AUD / HKD / EUR / GBP / USD

HKD4,000.00Min. Subscription

HKD4,000.00

*Not include dividends (If applicable)

Fund Performaces

1 mth
+1.93
3 mth
+2.57
6 mth
+6.57
1 yr
+7.72
3 yr
+0.54
5 yr
+16.21

Analytical Figures (3 years)

Annualized Return
+0.18
Annualized Volatility
+4.66
Sharpe Ratio
+0.05

Fund Information

Fund Houses
Baring Asset Management (Asia) Limited
Launch Date
1978-07-06
Fund Manager
Styles Merrick
Okabe Yoshi
Valensise Marino
Manager Start Date
Yoshi Okabe (Start Date: 2016-04-11) Marino Valensise (Start Date: 2018-01-23) Merrick Styles (Start Date: 2018-01-23)
Geographical Focus
Global
Asset Class/ Sector
Fixed Income - Investment grade
Risk Rating
Risk Level 2

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 one (1) or two (2), these are mainly aimed at providing capital preservation for investors by investing primarily in money market instruments and, investment grade sovereign bonds etc. For more details, please refer to the Due Diligence section under the Procedures page.

Fund AUM(As of 2019-05-15)
USD 71,716,360
Management Fee
0.75%
Latest Dividend
EUR 0.088400 (2019-05-01)

Sector Leaders

Dealing Information

0%

Subscription Fee
As low as 0 %

Secure Transaction

Derivatives knowledge not required

HKD4,000.00Min. Subscription

0.75%

HKD4,000.00Min. Subscription

AUD / HKD / EUR / GBP / USD

HKD4,000.00Min. Subscription

HKD4,000.00

Dividend Records

Dividend DateDividend Records (EUR)
2019-05-010.088400
2018-10-310.078900
2018-04-300.051600
2017-10-310.034800
2017-05-010.015000
2016-10-310.042400
2016-05-020.078400
2015-11-010.095300
2015-04-300.093500
2014-11-020.128800
2014-04-300.150000
2013-10-310.210000
2013-05-210.229800
2013-04-300.230000
2012-11-210.241500
2012-10-310.241500
2012-05-220.244200
2012-04-300.244200
2011-11-140.246400
2011-10-310.246400
2011-05-160.287300
2011-05-020.287300
2010-11-140.251000
2010-10-310.251000
2010-05-170.234400
2010-05-030.234400
2009-11-150.261600
2009-11-010.261600
2009-05-260.236300
2009-04-300.236300
2008-11-160.253200
2008-11-020.253200
2008-05-150.289700
2008-04-300.289700
2007-11-140.378000
2007-10-310.378000
2007-05-150.281300
2007-04-300.281300
2006-11-210.242400
2006-10-310.242400
2006-05-220.195100
2006-05-010.195100
2005-11-210.099400
2005-10-310.099400
2005-05-230.135000
2005-05-020.135000
2004-12-140.230000
2004-10-310.230000
2004-06-150.220000
2004-05-030.220000
2003-12-090.250000
2003-11-020.250000
2003-06-100.320000
2003-04-300.320000
2002-11-110.260000
2002-11-030.260000
2002-06-110.310000
2002-04-300.310000
2001-12-110.410000
2000-12-130.450000
2000-10-310.450000
1999-12-140.380000
1999-10-310.380000
1999-07-270.270000
1999-05-030.270000

Investment Objective

To achieve an attractive level of income together with long-term capital growth in the value of assets by investing in a diversified portfolio of fixed interest securities.

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. Credit Risk
- The Fund is exposed to the credit/default risk of issuers of debt securities that the Fund may invest in.
3. 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.
4. Volatility and liquidity risk
- The debt instruments in which the Fund invests may not be traded on an active secondary market. Debt instruments in certain markets may be subject to higher volatility and lower liquidity when compared to more developed markets. 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.
5. Risk associated with investment in specific countries or regions
- The Fund’s investment may be concentrated in specific countries or regions. In such event, 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.
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. 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.
11. Risks associated with derivatives and liquidity
- 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.
- There may not be active market for certain derivatives so that the purchase and sale of holding may take longer. The Fund may also encounter difficulties in disposing of derivatives at their fair market price.
12. 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.
13. 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.
14. 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.
15. Charges deducted from capital/risks relating to distribution
- The Fund normally pays its management fee and other fees and expenses out of income (in accordance with Irish accounting guidelines). However, where insufficient income is available, the Manager may pay some or all of its management fee and other fees and expenses out of capital and out of both realised and unrealised capital gains less realised and unrealised capital losses. Where the management fee and other fees and expenses are deducted from capital rather than income generated, this may constrain growth and could erode capital.
- The Fund normally pays dividends out of surplus net income. However, 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. Payment of distributions out of unrealised capital gains amounts to distribution out of capital under Hong Kong regulatory disclosure requirements and that payment of distributions under such circumstances 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 as dividends (which means effectively paying dividend out of capital) may result in an immediate reduction of the Fund’s net asset value per unit.