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Trending ETFs

Ashmore Emerging Markets Debt Fund

mutual fund
IGIEX
Payout Change
Pending
Price as of:
$8.48 -0.01 -0.12%
primary theme
Emerging Markets Bond
share class
Instl (IGIEX) A (IGAEX) C (IGCEX)
IGIEX (Mutual Fund)

Ashmore Emerging Markets Debt Fund

Payout Change
Pending
Price as of:
$8.48 -0.01 -0.12%
primary theme
Emerging Markets Bond
share class
Instl (IGIEX) A (IGAEX) C (IGCEX)
IGIEX (Mutual Fund)

Ashmore Emerging Markets Debt Fund

Payout Change
Pending
Price as of:
$8.48 -0.01 -0.12%
primary theme
Emerging Markets Bond
share class
Instl (IGIEX) A (IGAEX) C (IGCEX)

Name

As of 12/11/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Ashmore Emerging Markets Debt Fund

IGIEX | Fund

$8.48

$18.4 M

5.17%

$0.44

1.27%

Vitals

YTD Return

8.6%

1 yr return

13.1%

3 Yr Avg Return

0.0%

5 Yr Avg Return

N/A

Net Assets

$18.4 M

Holdings in Top 10

15.7%

52 WEEK LOW AND HIGH

$8.5
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.27%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A

Min Investment

Standard (Taxable)

$1,000,000

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 12/11/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Ashmore Emerging Markets Debt Fund

IGIEX | Fund

$8.48

$18.4 M

5.17%

$0.44

1.27%

IGIEX - Profile

Distributions

  • YTD Total Return 8.6%
  • 3 Yr Annualized Total Return 0.0%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 3.42%
DIVIDENDS
  • Dividend Yield 5.2%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Ashmore Emerging Markets Debt Fund
  • Fund Family Name
    Ashmore Funds
  • Inception Date
    Sep 17, 2020
  • Shares Outstanding
    N/A
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    GB
  • Manager
    Fernando Assad

Fund Description

The Fund seeks to achieve its objective by investing principally in debt instruments of Sovereigns and Quasi- Sovereigns of Emerging Market Countries and EM Supra-Nationals denominated principally in Hard Currencies (i.e., the U.S. dollar or any currency of a nation in the G-7). The Fund has no restrictions on individual security duration. The Fund observes a policy to normally invest at least 80% of its net assets (plus borrowings made for investment purposes) in bonds and other debt instruments of Sovereign or Quasi-Sovereign issuers of Emerging Market Countries and EM Supra-Nationals.
Sovereigns are governments of Emerging Market Countries. Quasi-Sovereigns are entities (including a local or regional governmental body) that are 100% guaranteed by a Sovereign or 100% directly or indirectly owned or controlled by a Sovereign. For the avoidance of doubt, a province and a city are classified as Quasi-Sovereigns. EM Supra-Nationals are Supra-National entities issuing debt instruments in a local currency of an Emerging Market Country or providing exposure to an Emerging Market sovereign credit risk. Emerging Market Country means any country included by the International Monetary Fund in its list of Emerging and Developing Economies, any country which is considered a low-income, lower-middle-income, or upper- middle-income economy by the World Bank, and any country that is included in an Emerging Market Index.
The Fund may invest in debt instruments of all types, whether subordinated or unsubordinated, secured or unsecured, quoted or unquoted, rated or unrated, or floating rate or fixed rate. These may include, without limitation, bonds, debentures, notes, convertible securities, commercial paper, loans and related assignments and participations, bank certificates of deposit, fixed time deposits, bankers’ acceptances, and money market instruments, including money market funds denominated in U.S. dollars or other currencies. The Fund may invest in companies of any market capitalization, and its allocations among small-, mid- and large-capitalization issuers may vary significantly over time.
The Fund may invest in obligations of any credit quality, including obligations that are in default or that are subject to insolvency proceedings. The Fund may invest without limitation in debt securities that are rated below investment grade or that are unrated but judged by the Investment Manager to be of comparable quality (i.e., “junk bonds”).
The Fund may utilize various derivative instruments and related strategies, including to gain exposure to one or more of the issuers referred to above or other assets. In addition, the Fund’s investments in derivatives and other synthetic instruments
that have economic characteristics similar to such investments will be counted toward satisfaction of the Fund’s 80% investment policy. The Fund may utilize derivatives of all types and may invest in, without limitation, call and put options (including options on futures contracts), futures and forward contracts and swap agreements (including total return, interest rate, and credit default swaps), credit-linked notes, structured notes and other related instruments with respect to individual currencies, bonds, and securities of any kind, indices and baskets of securities, interest rates and currencies. The Fund may use derivatives for hedging or efficient portfolio management purposes, but may also use them to increase the Fund’s investment exposure beyond that which it could achieve by investing directly in more conventional securities. The Fund may invest in currency-related transactions such as currency forward transactions (including deliverable and non-deliverable forwards), currency futures transactions and currency options transactions, and may also invest directly in foreign currencies, in each case for hedging or other investment purposes.
The Fund may invest in convertible debt instruments and equity securities related to convertible securities or warrants the Fund holds or has held, as well as acquire and hold equity securities, including warrants, resulting from debt conversion or restructuring. The Fund may invest in the securities of other investment companies, including exchange-traded funds (“ETFs”) and other pooled vehicles, if the investment companies invest principally in the types of investments in which the Fund may invest directly. The Fund may also lend its portfolio securities, borrow money for investment and other purposes, and enter into repurchase and reverse repurchase agreement transactions.
In managing the Fund, the Investment Manager’s fixed income and asset allocation investment committee (the “Investment Committee”), together with the relevant portfolio managers (together with the Investment Committee, the “Investment Team”), employs a largely top-down, active and value-driven investment approach in analyzing emerging markets and currencies. The Fund’s investment approach includes an emphasis on the influence of politics (both local and international). The Investment Team combines this top-down approach with an analytically-driven, bottom-up approach to making purchase and sale decisions with respect to individual corporate credits. The Investment Team seeks to invest in a portfolio of fixed-income securities in an effort to limit the Fund’s exposure to interest rate risk. The Investment Team seeks opportunities in selected emerging markets that it believes may benefit from significant positive changes, such as political and economic reforms, increases in capital inflows and investor confidence, and seeks to invest in issuers in government and Corporate sectors it expects will benefit from such developments and associated economic development and growth. The Investment Team’s investment process focuses on global and emerging markets fundamentals and considers factors such as liquidity and risk management at the macro level. This approach utilizes the Investment Manager’s broad and current knowledge of important investment areas in various Emerging Market Countries gained, in part, through research, experience, long-standing relationships with reliable local firms and, where appropriate, visits by its investment personnel to countries in their respective regions of responsibility.
In response to adverse market, economic, political or other conditions, the Fund may deviate from its principal strategies by making temporary investments of some or all of its assets in various instruments, including short-term, high-quality fixed income securities denominated in any currency, cash, cash equivalents, money market funds, and other similar funds. The Fund may not achieve its investment objective when it does so. The Fund may also invest a portion of its assets in such investments and instruments on a short term or temporary basis to manage its cash positions or otherwise manage the Fund efficiently.
The Investment Manager may engage in active and frequent trading of the Fund’s portfolio securities to achieve the Fund’s investment objective. The Fund may pay transaction costs, such as the bid/asked spread on purchases and sales of securities, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes for you if your Fund shares are held in a taxable account. These costs, which are not reflected in Annual Fund Operating Expenses or in the Examples, may adversely affect the Fund’s investment performance.
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IGIEX - Performance

Return Ranking - Trailing

Period IGIEX Return Category Return Low Category Return High Rank in Category (%)
YTD 8.6% -4.7% 464.5% 33.79%
1 Yr 13.1% -2.6% 481.4% 18.77%
3 Yr 0.0%* -7.4% 59.3% 68.20%
5 Yr N/A* -7.2% 29.3% N/A
10 Yr N/A* -4.5% 14.7% N/A

* Annualized

Return Ranking - Calendar

Period IGIEX Return Category Return Low Category Return High Rank in Category (%)
2023 3.4% -10.6% 17.8% 72.70%
2022 -19.0% -29.1% -2.4% 57.24%
2021 -4.9% -24.0% 2.7% 13.62%
2020 N/A -14.0% 9.7% N/A
2019 N/A -6.4% 13.0% N/A

Total Return Ranking - Trailing

Period IGIEX Return Category Return Low Category Return High Rank in Category (%)
YTD 8.6% -4.7% 464.5% 33.79%
1 Yr 13.1% -2.6% 481.4% 18.77%
3 Yr 0.0%* -7.4% 59.3% 68.20%
5 Yr N/A* -7.2% 29.3% N/A
10 Yr N/A* -4.5% 14.7% N/A

* Annualized

Total Return Ranking - Calendar

Period IGIEX Return Category Return Low Category Return High Rank in Category (%)
2023 8.4% -0.6% 20.0% 86.01%
2022 -15.1% -27.6% -1.7% 63.25%
2021 -1.7% -18.5% 7.4% 23.66%
2020 N/A -7.8% 18.0% N/A
2019 N/A -3.0% 23.0% N/A

NAV & Total Return History

IGIEX - Holdings

Concentration Analysis

IGIEX Category Low Category High IGIEX % Rank
Net Assets 18.4 M 565 K 14.8 B 91.81%
Number of Holdings 133 4 1860 84.98%
Net Assets in Top 10 2.99 M -134 M 1.25 B 95.56%
Weighting of Top 10 15.72% 5.8% 102.5% 66.55%

Top 10 Holdings

  1. PDVSA 8.5 10/27/20 REGS 1.98%
  2. DPWDU 3.7495 01/30/30 REGS 1.77%
  3. PEMEX 7.69 01/23/50 1.74%
  4. KSA 5 01/16/34 144A 1.70%
  5. NGERIA 7.625 11/28/47 REGS 1.55%
  6. ADGB 3.125 09/30/49 REGS 1.48%
  7. PEMEX 6.95 01/28/60 1.47%
  8. ENAPCL 5.25 11/06/29 REGS 1.39%
  9. CHILE 3.1 01/22/61 1.33%
  10. PETMK 4.55 04/21/50 REGS 1.31%

Asset Allocation

Weighting Return Low Return High IGIEX % Rank
Bonds 		97.72% 0.00% 100.50% 15.36%
Convertible Bonds 		2.56% 0.00% 8.47% 11.72%
Cash 		2.24% 0.00% 29.76% 77.47%
Other 		0.03% -10.15% 91.74% 47.44%
Stocks 		0.00% -0.01% 96.78% 84.30%
Preferred Stocks 		0.00% 0.00% 2.24% 77.82%

Bond Sector Breakdown

Weighting Return Low Return High IGIEX % Rank
Corporate 		84.37% 0.00% 91.26% 8.97%
Government 		12.36% 0.00% 99.79% 88.97%
Derivative 		0.03% -1.67% 13.76% 32.08%
Cash & Equivalents 		0.00% 0.00% 23.23% 95.90%
Securitized 		0.00% 0.00% 2.41% 81.38%
Municipal 		0.00% 0.00% 0.00% 76.90%

Bond Geographic Breakdown

Weighting Return Low Return High IGIEX % Rank
US 		94.03% -42.31% 99.16% 21.84%
Non US 		3.69% 0.00% 132.49% 72.01%

IGIEX - Expenses

Operational Fees

IGIEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.27% 0.02% 32.92% 48.29%
Management Fee 0.65% 0.00% 1.10% 40.61%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.02% 0.65% N/A

Sales Fees

IGIEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.75% 5.75% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

IGIEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.75% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

IGIEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 218.00% 1.41%

IGIEX - Distributions

Dividend Yield Analysis

IGIEX Category Low Category High IGIEX % Rank
Dividend Yield 5.17% 0.00% 22.22% 76.11%

Dividend Distribution Analysis

IGIEX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Quarterly Monthly Monthly

Net Income Ratio Analysis

IGIEX Category Low Category High IGIEX % Rank
Net Income Ratio 3.42% -2.28% 8.00% 81.12%

Capital Gain Distribution Analysis

IGIEX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

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IGIEX - Fund Manager Analysis

Managers

Fernando Assad

Start Date

Tenure

Tenure Rank

Sep 17, 2020

1.7

1.7%

Fernando Assad is a Senior Portfolio Manager of the Investment Manager and a Member of its Investment Committee. He joined Ashmore Investment Advisors Limited in 2007 as an equity portfolio manager after six years at Morgan Stanley where he was a Vice President responsible for management of Emerging Market equities and the launch of the Global Emerging and Convergence Opportunities portfolio within Global Wealth Management in London. He previously worked for SG Asset Management Emerging Markets and as an intern in Merrill Lynch Broker Services. Mr. Assad is a CFA Charterholder and has a BA in Economics from the American International University in London.

Mark Coombs

Start Date

Tenure

Tenure Rank

Sep 17, 2020

1.7

1.7%

Mark Coombs, the Investment Manager’s Chief Executive Officer and Chairman of the Investment Committee, having been involved in emerging markets since 1983. He holds an MA (Hons) in Law from Cambridge University and joined Grindlays Bank plc in 1983. Following its acquisition by Australia and New Zealand Banking Group Limited (ANZ) he was appointed Head of Emerging Markets Group for ANZ Merchant Bank Limited in 1988 and in 1991 became Head of the International Merchant Banking Division of ANZ Grindlays Bank plc and in 1997 Head of Markets for ANZ Group. He was appointed to the Board of the Emerging Markets Trade Association in 1993 and Co-Chair in 2000. He has been Chairman of the Investment Committee since he established the business as a separate division within ANZ in 1992, and is responsible for setting overall investment strategy of funds managed.

Herbert Saller

Start Date

Tenure

Tenure Rank

Sep 17, 2020

1.7

1.7%

Mr. Saller has been Senior portfolio manager and head of external debt of Ashmore since 2009, and a member of Ashmore’s investment committee since he joined Ashmore in 2002. He began his investment career in 1988 and has a business management degree from Verwaltungs-und Wirtschafts-Akademie, Munich.

Ricardo Xavier

Start Date

Tenure

Tenure Rank

Sep 17, 2020

1.7

1.7%

Ricardo Xavier is Senior portfolio manager of Ashmore since 2003, Ashmore’s head of local currency and the deputy chairman of Ashmore’s investment committee since 2014. Mr. Xavier has geographic responsibility for Latin America, and product responsibility for local currencies, local currency debt and related derivatives. He began his investment career in 1992 and has a bachelor’s degree from Fundação Armando Alvares Penteado, Sao Paulo.

Robin Forrest

Start Date

Tenure

Tenure Rank

Sep 17, 2020

1.7

1.7%

Robin Forrest is a Senior Portfolio Manager of Ashmore Investment Management Limited and a Member of its Investment Committee. Mr. Forrest joined Ashmore in 2006 after 13 years at JP Morgan, where he was most recently Vice President—Situational Finance, with a focus on credit intensive corporate situations in CEEMEA geographies. During this period, he had several years of experience in each of capital markets, origination, structuring, execution, syndication, risk management and credit within loan and high yield markets and in Emerging Markets. Robin has a BA (Hons) in Russian & French from Oxford University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.15 23.87 6.5 6.11

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