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Ninety One Global Strategy Fund - Emerging Markets Corporate Debt Fund A Acc Gross USD

晉達環球策略基金 - 新興市場公司債券基金 A類 Acc Gross 美元

LU0611394940

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.

On Holiday

Dealing Information

Secure Transaction

Derivatives knowledge not required

HKD30,000.00Min. Subscription

1.50%

HKD8,000.00Min. Subscription

AUD / HKD / EUR / GBP / USD

HKD30,000.00Min. Subscription

HKD30,000.00

HKD30,000.00

Daily

14:00

-

*Not include dividends (If applicable)

Fund Performances (including dividend, if any)

1 mth
+0.40%
3 mth
+0.23%
6 mth
+13.24%
1 yr
+4.27%
3 yr
+11.16%
5 yr
+31.10%

Analytical Figures (3 years)

Annualized Return
+3.59%
Annualized Volatility
+9.90%
Sharpe Ratio
+0.24

Fund Information

Fund Houses
Ninety One
Launch Date
2011-04-14
Fund Manager
Victoria Harling
Manager Start Date
2012-04-01
Geographical Focus
Emerging Markets
Asset Class/ Sector
Fixed Income - Hybrid
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 2020-10-28)
USD 2,098,218,803.14
Management Fee
1.50%
Latest Dividend
N.A.

Sector Leaders

    No Funds

Dealing Information

Secure Transaction

Derivatives knowledge not required

HKD30,000.00Min. Subscription

1.50%

HKD8,000.00Min. Subscription

AUD / HKD / EUR / GBP / USD

HKD30,000.00Min. Subscription

HKD30,000.00

HKD30,000.00

Daily

14:00

-

Dividend Records

No Dividends

Investment Objective

The Sub-Fund aims to provide income and generate capital gains over the long-term, primarily through investment in a diversified portfolio of debt securities (e.g. bonds) issued by Emerging Markets Corporate Borrowers (means a borrower that has its registered office in an emerging market, or has its registered office outside of an emerging market but carries out a significant proportion of its operations in emerging markets and/or is controlled by an entity established in an emerging market) and derivatives which offer exposure to such debt 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 underlying investments of the Sub-Fund may fall in value due to any of the key risk factors below and therefore your investment in the Sub-Fund may suffer losses. There is no guarantee of the repayment of capital. The Sub-Fund has no guaranteed dividend payment. Investment in the Sub-Fund is not the same as deposits with a bank. You may not get back the full amount of money you invest.
2. Emerging Markets Risk
The Sub-Fund’s emerging markets may be more volatile and less liquid than investments in developed markets and the investments of the Sub-Funds in such markets may be considered speculative and subject to significant delays in settlement. In addition, there may be a higher than usual risk of exchange rate, political, economic, social and religious instability and of adverse changes in government regulations. Some of these markets may not be subject to accounting, auditing and financial reporting standards and practices comparable to those of more developed countries and the securities markets of such markets may be subject to unexpected closure. In addition, there may be less government supervision, legal regulation and less well defined tax laws and procedures than in countries with more developed securities markets. Other risks include exchange control risk, custody risk and the likelihood of a high degree of volatility. The Sub-Fund may be more volatile and less liquid, and may have higher risk of loss, than funds which primarily invest in developed markets.
3. Credit Risk
The Sub-Fund is subject to the risk of loss that the issuers (which could be a company, government or other institution) of its investments do not make payments as promised. This risk is greater the weaker the financial strength of the party. The value of the Sub-Fund could be affected by any actual or feared breach of the party’s obligations, while the income of the Sub-Fund would be affected only by an actual failure to pay. Moreover, increase in credit risk may lead to downgrading of the securities, thereby reducing the value of the securities concerned.
4. Interest Rate Risk
The earnings or market value of the Sub-Fund may be affected by changes in interest rates. The values of bond holdings may fall if interest rates rise. Furthermore, longer term bonds are may be more sensitive to changes in interest rates than shorter-dated bonds.
5. Liquidity Risk
The price at which an asset is valued may not be realisable in the event of sale because of reduced liquidity which would have an adverse impact on market price or the ability to realise the asset. Reduced liquidity for such securities may be driven by specific economic or market event, such as the deterioration in the creditworthiness of an issuer. The Sub-Fund may incur higher trading and realization costs and may suffer losses when selling less liquid assets.
6. Counterparty Risk
The Sub-Fund may enter into transactions with counterparties, thereby exposing them to the counterparties' credit worthiness and their ability to perform and fulfill their financial obligations. Any failure of the counterparties may result in financial loss to the Sub-Fund.
7. 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 Sub-Fund may be adversely affected thereby causing losses to the Sub-Fund. The Investment Manager may or may not be able to dispose of the debt instruments that are being downgraded.
8. Risk Associated with Sovereign Debt Securities
The Sub-Fund may invest in sovereign debt securities which may be subject to political, social and economic risk and risk of loss that the issuers of its investment may not be able or willing to make payments as promised and/or if there is a downgrade of the sovereign credit rating of the issuers. The Sub-Fund may suffer significant losses when there is a default of sovereign debt issuers.
9. Exchange Rate Risk
The currency exposure of the underlying investments may differ from the base currency of the Sub-Fund, therefore currency exchange rate movements may adversely affect the value of the Sub-Fund's investments and the income thereon (as measured in the base currency of the Sub-Fund). Exchange rate movements may also adversely affect the profitability of an underlying company in which the Sub-Fund invests.
10. High Yield / Non-Investment Grade / Unrated Debt Securities Risk
High yield / non-investment grade / unrated debt securities are subject to greater risk of loss of income and principal due to default by the issuer than are higher-rated debt securities. It may also be more difficult to dispose of, or to determine the value of, high yield / non-investment grade /unrated debt securities. Investment in debt securities below investment grade may subject to low liquidity and high volatility and greater risk of loss of principal and interest than high-rated debt securities.
11. Credit rating risk
Credit ratings assigned by rating agencies are subject to limitations and do not guarantee the creditworthiness of the securities and/or issuer at all times.
12. Valuation Risk
Valuation of the Sub-Fund's investment may involve uncertainties and judgmental determinations. If such valuation turns out to be incorrect, this may affect the net asset value calculation of the Sub-Fund.
13. Risks Associated with Derivatives
The Sub-Fund may invest extensively in derivatives for investment purpose. Investments in derivatives involve additional risks such as leverage risk, counterparty risks, liquidity risk, valuation risk, volatility risk and over-the-counter transaction risk. The Sub-Fund is subject to the risk of significant loss resulting from the use of derivatives for investment. The leverage element/component of a derivative can result in a loss significantly greater than the amount invested in derivative by the Sub-Fund. The Sub-Fund may also use derivatives for the purposes of hedging and/or efficient portfolio management. In adverse situations, the Sub-Fund's use of derivatives may become ineffective in hedging and/or in efficient portfolio management and the Sub-Fund may suffer significant losses.
14. Risk of Distribution Out of Capital of Inc-2 Share Classes
The Management Fee, the Management Company Fee, the Administration Servicing Fee, the Distribution Fee(if any), the Custodian's fee and all other expenses attributable to the Share Class will be charged against the capital account of that Share Class. This has the effect of increasing the Share Class's distributions (which may be taxable) whilst reducing its capital to an equivalent extent. This could constrain future capital and income growth. Payment of dividends 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 dividends effectively out of the Share Class's capital may result in an immediate reduction of the net asset value per Share.