Pictet-Emerging Local Currency Debt P dy GBP

Performance History31/01/2020
Growth of 1,000 (GBP) Advanced Graph
Pictet-Emerging Local Currency Debt P dy GBP
Fund-----1.3
+/-Cat-----0.8
+/-B’mrk-----0.5
 
Key Stats
NAV
17/02/2020
 GBP 68.92
Day Change -0.09%
Morningstar Category™ Global Emerging Markets Bond - Local Currency
IA (formerly IMA) Sector 
ISIN LU0366532132
Fund Size (Mil)
17/02/2020
 USD 3392.79
Share Class Size (Mil)
17/02/2020
 GBP 1.36
Max Initial Charge 5.00%
Ongoing Charge
18/02/2020
  1.54%
*  This rating and report were issued for a different share class of this fund. The performance and fee structure of this class may vary from that referenced.
Morningstar Research
Analyst Report

The team at Pictet-Emerging Local Currency Debt has had some turnover in the past but retains a stable and experienced core. However, the 2018 appointment of a new head of local currency who lacks a relevant public track record as lead manager...

Click here to read this analyst report on the underlying fund.
Morningstar Pillars
PeopleNeutral
ParentNeutral
ProcessNeutral
PerformanceNeutral
PriceNegative
Investment Objective: Pictet-Emerging Local Currency Debt P dy GBP
The fund aims to achieve its investment objective by investing a minimum of two-thirds of its total assets or wealth in a diversified portfolio of bonds and other debt securities linked to local emerging debt. Emerging countries are defined as those considered, at the time of investing, as industrially developing countries by the International Monetary Fund, the World Bank, the International Finance Corporation (IFC) or one of the leading investment banks, which include, amongst others, Brazil. The fund may invest more than 10% and up to 20% of its net asset value in securities issued or guaranteed by a single country (including its government, a public or local authority of that country) with a credit rating below investment grade (such as Brazil, Argentina, Hungary, Vietnam and Sri Lanka). Investments in China may be performed, inter alia, on the China Interbank Bond Market directly, or through the QFII or the RQFII quota granted to the Managers for up to 30% of its net assets.
Returns
Trailing Returns (GBP)17/02/2020
YTD0.88
3 Years Annualised1.73
5 Years Annualised4.31
10 Years Annualised2.69
12 Month Yield -
Dividend Paying Frequency Annually
Management
Manager Name
Start Date
Mary-Therese Barton
01/05/2018
Alper Gocer
01/05/2018
Inception Date
03/06/2008
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Category Benchmark
Fund BenchmarkMorningstar Benchmark
JPM GBI-EM Global Diversified TR USDJPM GBI-EM Global Diversified TR USD
Target Market
Role In Portfolio
Standalone / CoreNot Specific
ComponentNot Specific
OtherNot Specific
Primary Objective
PreservationNot Specific
GrowthYes
IncomeYes
HedgingNot Specific
OtherNot Specific
Portfolio Profile for  Pictet-Emerging Local Currency Debt P dy GBP31/01/2020
Fixed Income
Effective Maturity8.49
Effective Duration-
Morningstar Style Box®
Fixed Income Style
Asset Allocation
  % Long% Short% Net Assets
Stock0.000.000.00
Bond221.4279.34142.09
Property0.000.000.00
Cash255.18297.55-42.36
Other0.240.240.00
* This share class has performance data calculated prior to the inception date, 2008-06-03. This is based upon a simulated/extended track record, using the track record of Pictet-Emerging Local Ccy Dbt P dy USD (ISIN: LU0255798281), and is in accordance with Morningstar’s Extended Performance Methodology paper. To find out more about this, click here.
In order to provide consistency across the report data provided by different Asset Managers, the calculated data points presented are generated using Morningstar’s proprietary calculation methodology which is set out in more detail at(https://www.morningstar.com/research/signature)

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