Bond Emerging Markets Corporates IG
- Fund
- Fixed Income
- Emerging Markets
- Investment Grade
Product details
NAV Price
Current
Performance
Since 1 Year
Data updated on 30 May 2025
Strategy
The Sub-Fund invests in hard currency (mainly US dollar) corporate bonds issued by companies domiciled in emerging markets, which mainly have an investment grade rating (AAA to BBB-). Objective of the Sub-Fund is to attain attractive returns offered by emerging markets debt without taking the exposure to higher risk from the lower rated segment.
Management commentary
Emerging market credit spreads tightened as fears of a US recession eased, supported by resilient US economic data, a softer USD, and tariff reductions from the US and China. Emerging market local currency bonds benefited from USD weakness and monetary easing. The fund's absolute performance was positive, driven by spread tightening and carry, partially offset by higher USD yields. The relative performance was positive due to credit risk and overweight exposure to Latin America and Central & Eastern Europe, combined with an underweight in the Middle East and Africa.
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