JPM Emerging Markets Debt Fund A MDis USD

JPM 新興市場債券基金 A類 MDis 美元

LU0471471150

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

HKD10,000.00Min. Subscription

1.15%

HKD10,000.00Min. Subscription

HKD / JPY / EUR / GBP / RMB / USD / NZD

HKD10,000.00Min. Subscription

HKD10,000.00

HKD16,000.00

Daily

14:00

-

*Not include dividends (If applicable)

Fund Performances (including dividend, if any)

1 mth
+1.48%
3 mth
-1.68%
6 mth
+2.95%
1 yr
+19.12%
3 yr
+10.01%
5 yr
+23.28%

Analytical Figures (3 years)

Annualized Return
+3.23%
Annualized Volatility
+13.08%
Sharpe Ratio
+0.16

Fund Information

Fund Houses
JPMorgan Funds (Asia) Ltd.
Launch Date
2010-02-21
Fund Manager
Pierre-Yves Bareau
Emil Babayev
Manager Start Date
Pierre-Yves Bareau (Start Date: 2009-11-01) Emil Babayev (Start Date: 2015-09-07)
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 2021-04-14)
USD 3,054,995,027.01
Management Fee
1.15%
Latest Dividend
USD 0.059000 (2021-04-07)

Sector Leaders

    No Funds

Dealing Information

Secure Transaction

Derivatives knowledge not required

HKD10,000.00Min. Subscription

1.15%

HKD10,000.00Min. Subscription

HKD / JPY / EUR / GBP / RMB / USD / NZD

HKD10,000.00Min. Subscription

HKD10,000.00

HKD16,000.00

Daily

14:00

-

Dividend Records

Dividend DateDividend Records (USD)
2021-04-070.059000
2021-03-080.059000
2021-02-080.059000
2021-01-070.059000
2020-12-070.059000
2020-11-090.059000
2020-10-070.057000
2020-09-080.057000
2020-08-090.057000
2020-07-070.057000
2020-06-080.057000
2020-05-070.057000
2020-04-070.061000
2020-03-090.063000
2020-02-090.063000
2020-01-070.065000
2019-12-090.065000
2019-11-070.065000
2019-10-080.064000
2019-09-090.064000
2019-08-070.064000
2019-07-080.065000
2019-06-110.065000
2019-05-070.065000
2019-04-080.064000
2019-03-070.064000
2019-02-100.064000
2019-01-070.065000
2018-12-030.065000
2018-11-070.065000
2018-10-090.067000
2018-09-090.067000
2018-08-070.067000
2018-07-090.074000
2018-06-070.074000
2018-05-070.074000
2018-04-090.076000
2018-03-070.076000
2018-02-070.076000
2018-01-080.078000
2017-12-070.078000
2017-11-070.078000
2017-10-100.074000
2017-09-070.074000
2017-08-070.074000
2017-07-090.076000
2017-06-070.076000
2017-05-080.076000
2017-04-090.074000
2017-03-070.074000
2017-02-070.074000
2017-01-090.078000
2016-12-070.078000
2016-11-070.078000
2016-10-110.073000
2016-09-110.073000
2016-08-080.073000
2016-07-070.068000
2016-06-070.068000
2016-05-090.068000
2016-04-070.070000
2016-03-070.070000
2016-02-110.070000
2016-01-070.070000
2015-12-070.070000
2015-11-090.070000
2015-10-070.075000
2015-09-080.075000
2015-08-090.075000
2015-07-070.077000
2015-06-080.077000
2015-05-070.077000
2015-04-070.078000
2015-03-090.078000
2015-02-090.078000
2015-01-070.081000
2014-12-080.081000
2014-11-090.081000
2014-10-070.083000
2014-09-080.083000
2014-08-070.090000
2014-07-070.080000
2014-06-100.080000
2014-05-070.080000
2014-04-070.080000
2014-03-090.080000
2014-02-090.080000
2014-01-070.082000
2013-12-090.082000
2013-11-070.082000
2013-10-070.086000
2013-09-090.086000
2013-08-070.086000
2013-07-080.092000
2013-06-090.092000
2013-05-070.092000
2013-04-080.092000
2013-03-070.092000
2013-02-070.092000
2013-01-070.090000
2012-12-090.090000
2012-11-060.090000
2012-10-040.080000
2012-09-040.090000
2012-08-070.090000
2012-07-080.090000
2012-06-070.090000
2012-05-080.090000
2012-04-030.100000
2012-03-060.100000
2012-02-070.100000
2012-01-080.100000
2011-12-060.100000
2011-11-070.100000
2011-10-060.100000
2011-09-060.080000
2011-08-090.080000
2011-07-060.070000
2011-06-080.070000
2011-05-100.070000
2011-04-060.060000
2011-03-080.080000
2011-02-080.060000
2011-01-100.060000
2010-12-070.060000
2010-11-080.060000
2010-10-070.060000
2010-09-070.040000
2010-08-080.060000
2010-07-070.060000
2010-06-080.060000
2010-05-090.020000
2010-04-150.020000

Investment Objective

To achieve a return in excess of the bond markets of emerging countries by investing primarily in emerging market debt securities, including corporate securities and securities issued in local currencies, using financial derivative instruments where appropriate.

Nature and Extent of Risks

Investment involves risk. Please refer to the offering document(s) 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. There is no guarantee of the repayment of principal.
2. Emerging markets risk – Emerging markets may be subject to increased risks and special considerations not typically associated with investment in more developed markets, such as liquidity risks, currency risks/control, political, regulatory and economic instability, legal and taxation risks, less developed custody and settlement practices, poor transparency, greater financial risks and the likelihood of a high degree of volatility. Some markets may carry higher risks for investors who should therefore ensure that they understand the risks involved and are satisfied that an investment is suitable as part of their portfolio. As a result, investors may get back less than they originally invested.
Risks associated with debt securities – the Fund’s investments in debt securities are subject to the following risks:
Below investment grade/unrated investment risk –The Fund may invest in debt securities which are unrated or rated below investment grade by international accredited rating agencies. Accordingly, such investment will be accompanied by a higher degree of credit and liquidity risks than is present with investment in higher rated securities. During economic downturns such bonds typically fall more in value than investment grade bonds as such are often subject to a higher risk of issuer default. The net asset value of the Fund may decline or be negatively affected if there is a default of any of the below investment grade/unrated debt securities (e.g. some high yield bonds) that the Fund invests in or if interest rates change.
Credit risk – If the issuer of any of the securities in which the Fund’s assets are invested defaults, the performance of the Fund will be adversely affected and the Fund could suffer substantial loss. For debt securities, a default on interest or principal may adversely impact the performance of the Fund. Decline in credit quality of the issuer may adversely affect the valuation of the relevant bonds and the Fund. The credit ratings assigned by credit rating agencies are subject to limitations and do not guarantee the creditworthiness of the security and/or the issuer at all times.
Interest rate risk – Interest rates in the countries in which the Fund’s assets will be invested may be subject to fluctuations. Any such fluctuations may have a direct effect on the income received by the Fund and its capital value. Bonds are particularly susceptible to interest rate changes and may experience significant price volatility. The prices of bonds generally increase when interest rates decline and decrease when interest rates rise. Longer term bonds are usually more sensitive to interest rate changes. As a result, investors may get back less than they originally invested.
Investment grade bond risk – Investment grade bonds are assigned ratings within the top rating categories by rating agencies (including but not limited to Fitch, Moody’s and/or Standard & Poor’s) on the basis of the creditworthiness or risk of default of a bond issue. Unrated onshore Chinese bond issues may be deemed investment grade to the extent that their issuers hold an international investment grade rating by at least one independent international rating agency. Rating agencies review such assigned ratings and bonds and/or their issuers may therefore be downgraded in rating if economic circumstances (e.g. subject to market or other conditions) impact the relevant bond issues and/or their issuers. Downgrading of the bonds and/or their issuers may adversely affect the value of the relevant bonds and therefore the performance of the Fund. The Fund may or may not be able to dispose of the bonds that are downgraded. Also, the Fund may face higher risks of default in interest payment and principal repayment. As a result, investors may get back less than they originally invested.
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.
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.
4. Currency risk
– Where the currency of the Fund varies from the investor´s home currency or where the currency of the Fund varies from the currencies of the markets in which the Fund invests, there is the prospect of additional loss to the investor greater than the usual risks of investment. Also, changes in exchange rate controls and movements in currency exchange rates can adversely affect the return of the investment and as a result, investors may get back less than they originally invested. •
5. Class currency risk
– The Class Currency of each Class may be different from the Fund’s base currency, the currencies of which the Fund’s assets are invested and/or investors’ base currencies of investment. If an investor converts its base currency of investment to the Class Currency in order to invest in a particular Class and subsequently converts the redemption proceeds from that Class Currency back to its original base currency of investment, the investor may suffer a loss due to the depreciation of the Class Currency against the original currency. For example, if an investor whose base currency of investment is Hong Kong dollars (i.e. not Australian dollars) and chooses to invest in the AUD Class, the investor may be exposed to a higher currency risk. The investor may suffer a higher loss as a result of exchange rate fluctuations between Hong Kong dollars and Australian dollars upon the reconversion of its Australian dollars investment back to Hong Kong dollars as compared to an investor whose base currency of investment is originally in Australian dollars.
6. Risk related to “(irc)” share classes
– The “(irc)” share classes will give priority to dividends, rather than to capital growth and will typically distribute more than the income received by the Fund. As such, dividends may be paid out of capital, resulting in greater erosion of the capital invested than other share classes. Furthermore, movements in currency exchange rates and interest rates can adversely affect the return of the “(irc)” share classes. The net asset value of “(irc)” share classes may fluctuate more than and may significantly differ from other share classes due to a more frequent distribution of dividends and the fluctuation of the interest rate differential between the reference currency of the share class and the reference currency of the Fund. Please refer to the “currency hedged share classes risk” and “payment of distributions out of capital risk” for the additional risk associated with “(irc)” share classes.
7. Currency hedged share classes risk
– Investors should be aware that the currency hedging process may not give a precise hedge and there is no guarantee that the hedging will be totally successful. Investors in the currency hedged share classes may have exposure to currencies other than the currency of their share class and may also be exposed to the risks associated with the instruments used in the hedging process.
8. Liquidity risk
– Lack of liquidity may adversely affect the ease of disposal of assets. The absence of reliable pricing information in a particular security held by the Fund may make it difficult to access reliably the market value of assets. There is a risk that investments made by the Fund are subject to higher volatility and less liquid compared to more developed markets. The prices of such securities may be subject to fluctuations. As a result, investors may get back less than they originally invested.
9. Derivative risk
– The Fund may acquire derivatives, including over-the-counter derivatives, and may therefore be subject to the risk that its direct counterparty will not perform its obligations under the transactions and that the Fund will sustain losses. Valuation of derivatives may involve uncertainties. If valuation turns out to be incorrect, they may affect the net asset value calculation of the Fund. Other risks associated with derivatives include liquidity risk, volatility risk and over-the-counter transaction risk. A small movement in the value of the underlying asset can cause a large movement in the value of the derivatives and therefore, investment in derivatives may result in losses in excess of the amount invested by the Fund and may lead to significant losses by the Fund.
10. Hedging risk
– The Investment Managers are permitted, in their absolute discretion, but not obliged, to use hedging techniques to attempt to reduce market and currency risks. There is no guarantee that hedging techniques if used, will achieve the desired result nor that hedging techniques will be used, in those cases, the Fund may be exposed to the existing market and currency risks and may be adversely impacted. The hedging, if any, against foreign exchange risks may or may not be up to 100% of assets of the Fund.
11. Payment of distributions out of capital risk
– The Fund may at its discretion pay dividends out of capital. The Fund may also at its discretion pay dividends out of gross income while charging all or part of the Fund’s fees and expenses to the capital of the Fund, resulting in an increase in distributable amount for the payment of dividends and therefore, effectively paying dividends out of realised, unrealised capital gains or capital. Investors should note that, share classes of the Fund which pay dividends may distribute not only investment income, but also realised and unrealised capital gains or capital. 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, as a result, the capital that the Fund has available for investment in the future and capital growth may be reduced. Any dividend payments, irrespective of whether such payment is made up or effectively made up out of income, realised and unrealised capital gains or capital, may result in an immediate reduction of the net asset value per share. A high distribution yield does not imply a positive or high return on the total investment. The distribution amount and NAV of the currency hedged class may be adversely affected by differences in the interest rates of the denominated currency of the currency hedged class and the base currency of the Fund, 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.
12. Risks related to the Eurozone sovereign debt crisis
– The Fund may invest substantially in the Eurozone. In light of the ongoing fiscal conditions and concerns on the sovereign debt risk of certain countries within the Eurozone (in particular, Portugal, Ireland, Italy, Greece and Spain), the Fund’s investments in the region may be subject to higher volatility, liquidity, currency and default risks. The performance of the Fund may deteriorate significantly should there be any adverse credit events (e.g. downgrade of the sovereign credit rating, obligation default, etc) of any Eurozone country or exit of members from the Eurozone.