Sparinvest SICAV EM Corporate Value Bonds EUR R

Transcription

1 Sparinvest SICAV EM Corporate Value Bonds EUR R Fund overview Exposures Portfolio characteristics Exposure over time

2 Description The fund invests in corporate bonds issued by companies located or with the bulk of their earnings in emerging markets. Emerging markets are defined as countries that are not classified as developed countries, according to MSCI market classification. The investment universe includes investment grade bonds, high yield bonds and non-rated corporate bonds. The fund can be invested in bonds, issued in both local currency and hard currency. Trailing returns Share class Bmk1 YTD -1,79% -1,74% 1 month -0,54% -0,43% 3 months -1,79% -1,74% 1 year -0,12% 1,53% 3 years ann. -1,64% 3,47% 5 years ann. -2,55% 3,12% 10 years ann. 5,49% Since launch * 1,55% 4,43% Risk figures - 3 years Share class Bmk1 Volatility 5,41% 3,78% Sharpe ratio -0,22 1,02 Beta 1,15 Inf. ratio -1,55 Tracking error 3,27% MktUp ratio 75,26 MktDwn ratio 195,65 Morningstar rating ( ) Snapshot Strategy Value Accumulating returns Launch of strategy ISIN LU Product currency EUR NAV (EUR) 111,92 MS Category Long-Only Debt AuM Share class (mln) 17 AuM Fund (mln) 20 AuM Strategy (mln) Since launch * Share class 12,26% -6,40% -8,89% 3,84% 3,54% -1,79% Benchmark 1 38,71% 4,72% 0,79% 7,96% 5,96% -1,74% Operations Benchmark 1 Managed by Product family Domicile JP Morgan Corporate Emerging Markets Bond Index Broad Diversified (EUR Hedged)(SPI) Team Managed Sparinvest SICAV LU Rating exposure TER 1,55% Management fee 1,25% Subscription fee (up to) 2,00% Redemption fee 0,00% Launch of share class Launch of fund Change of fund strategy Country exposure Initial return date *) Bond statistics Duration 4,63 4,82 YTM 4,02 5,05 Rating (avg) BB+ BBB- Maturity 6,25 8,10 Disclaimer Past performance is no guarantee for future returns. Investments may be subject to foreign exchange risks. The indicated performance is calculated without consideration of subscription or redemption fees. Sparinvest assumes no responsibility regarding the accuracy of the disclosed data, whether provided by Sparinvest or obtained from an external source. Investment decisions should not be based solely on the disclosed data but should be based on review of the relevant annual/semi-annual reports, articles of association and other relevant information. The material may be obtained from Sparinvest or our distributors and at Sources: Sparinvest, Morningstar, Factset as of the dates indicated. Top holdings Issue Issuer Country Weight 5.88% Ecopetrol Sa 2023 Ecopetrol Sa Colombia 1,99% 4.00% Adani Ports & Special Adani Ports And Special India 1,92% Economic Zone Ltd % Bancolombia Sa 2021 Bancolombia Sa Colombia 1,87% 4.88% Jubilant Pharma Ltd/Sg 2021 Jubilant Pharma Ltd China 1,86% 9.50% Ihs Netherlands Holdco Bv Ihs Netherlands Holdco Nigeria 1,82% % Severstal Oao Via Steel Severstal (Steel Cap) Russia 1,76% Capital Sa % Cablevision Sa 2021 Telecom Argent Stet Fran Argentina 1,66% 9.75% Salamander Energy Plc 2020 Salamander Energy Plc United Kingdom 1,56% 6.50% Evraz Group Sa 2020 Evraz Group Sa Russia 1,55% 6.88% Comunicaciones Celulares Sa Via Comcel Trust Com Celulares(Com Trust) Guatemala 1,46% Page 2

3 Rating exposure AAA 0,00% 0,11% AA 0,00% 2,74% A 12,43% 17,42% BBB 29,29% 35,25% BB 23,14% 23,81% B 18,78% 13,35% CCC 0,00% 1,70% C 0,00% 0,30% NR 11,64% 5,31% Other 4,71% 0,00% Region exposure South America 27,33% 23,91% Pacific Rim 21,77% 31,21% Eastern Europe 11,94% 11,50% Middle East 11,86% 16,39% North America 8,21% 6,28% Africa 4,98% 5,72% Western Europe 4,15% 0,00% Central Asia 3,31% 4,85% Other 6,45% 0,14% Sector exposure Financials 25,07% 29,65% Energy 14,29% 14,16% Materials 12,66% 10,13% Industrials 11,17% 6,00% Telecommunication Se 7,29% 7,06% Consumer Staples 6,84% 3,88% Utilities 5,78% 8,20% Consumer Discretiona 4,58% 5,39% Real Estate 3,74% 4,90% Information Technolo 3,04% 2,05% Health Care 0,83% 2,45% Other 4,71% 6,13% Pricing exposure > ,00% 56,23% ,89% 43,40% ,36% 0,29% ,22% 0,04% < 40 0,83% 0,04% Other 4,71% 0,00% Page 3

4 Issue size exposure > ,02% 15,36% ,80% 3,84% ,97% 8,42% ,77% 11,44% < ,99% 3,71% Other 7,45% 57,24% Page 4

5 Portfolio vs benchmark characteristics Key figures Portfolio data Bmk1 data () = data coverage () = data coverage # of Securities 102 (100%) 1,391 (100%) # of Securities in Benchmark 78 (76%) 1,391 (100%) YTM 4.02 (99%) 5.13 (100%) Duration 4.63 (99%) 4.82 (100%) Maturity 6.25 (99%) 8.10 (100%) OAS (99%) (100%) Convexity 0.30 (73%) 0.26 (43%) Average rating BB+ (88%) BBB- (95%) Page 5

6 Sector exposure Geographical exposure Marketcap exposure Page 6