GSF Lux SICAV

Asia Dynamic Bond

Morningstar Rating™

3
8
EU SFDR
E
Enhanced Integration

Latest NAV Price

17.8100
22 April 2024

NAV daily change %

0.00

Dealing currency

USD

Fund size

USD 55.85 M
28 March 2024

Latest NAV Price

17.8100
22 April 2024

NAV daily change %

0.00

Dealing currency

USD

Fund size

USD 55.85 M
28 March 2024

Objective

Investment objective summary

  • The Fund aims to provide income with the opportunity for capital growth over the long term.
      • The Fund is actively managed and invests primarily in a diversified portfolio of debt securities (e.g. bonds) issued by Asian Borrowers and related derivatives (financial contracts whose value is linked to the price of a debt security).
      • The Fund promotes environmental and social characteristics in line with Article 8 of the EU Sustainable Finance Disclosure Regulation (SFDR). The Fund will not invest in certain sectors or investments. Over time, the Investment Manager may, in accordance with the Fund’s investment policy, apply additional exclusions to be disclosed on the website, as they are implemented.
      Alan Siow
      Co-Portfolio Manager, All China Bond
      Alan is a portfolio manager in the Fixed Income team at Ninety One with responsibility for...
      Victoria Harling
      Portfolio Manager
      Victoria is Head of Emerging Market Corporate Debt and is responsible for managing the Emerging Market...

      Performance & returns

      Key facts

      • Domicile

        Luxembourg
      • ISIN

        LU2279442268
      • Risk profile

        2
      • SEDOL

        BLD8XT7
      • CUSIP

        L6S44C550
      • Bloomberg code

        NIADBIA LX
      • Benchmark

        JP Morgan Asia Credit
      • Morningstar category sector

        Asia Bond
      • Fund inception date

        26/01/2021
      • Share class inception date

        26/01/2021
      • Minimum investment

        USD1,000,000 / equivalent approved currency
      • Valuation point

        16:00 New York Time (forward pricing)
      • EU SFDR

        Article 8
      • Ninety One Sustainability Classification

        Enhanced Integration

      Portfolio & Holdings

      Date as of 31/03/2024
      Index
      Fund
      AAA
      0.9
      AA
      12.5
      A
      32.4
      BBB
      39.8
      BB
      7.5
      B
      1.6
      CCC
      0.9
      CC
      0.2
      C
      D
      0.4
      Not Rated
      3.7
      *Bond ratings are Ninety One approximations.

      Charges

      Maximum initial charge %

      5.00

      Ongoing charge %

      0.67
      The Fund may incur further expenses (not included in the above Ongoing charge) as permitted by the Prospectus.

      Specific fund risks

      Currency exchange

      Changes in the relative values of different currencies may adversely affect the value of investments and any related income.

      Default

      There is a risk that the issuers of fixed income investments (e.g. bonds) may not be able to meet interest payments nor repay the money they have borrowed. The worse the credit quality of the issuer, the greater the risk of default and therefore investment loss.

      Derivatives

      The use of derivatives may increase overall risk by magnifying the effect of both gains and losses leading to large changes in value and potentially large financial loss. A counterparty to a derivative transaction may fail to meet its obligations which may also lead to a financial loss.

      Emerging market (inc. China)

      These markets carry a higher risk of financial loss than more developed markets as they may have less developed legal, political, economic or other systems.

      Geographic / Sector

      Investments may be primarily concentrated in specific countries, geographical regions and/or industry sectors. This may mean that, in certain market conditions, the value of the portfolio may decrease whilst more broadly-invested portfolios might grow.

      Government securities exposure

      The Fund may invest more than 35% of its assets in securities issued or guaranteed by a permitted sovereign entity, as defined in the definitions section of the Fund’s prospectus. Currently, it is expected that the Fund will exceed this limit in securities issued by the Chinese government.

      Interest rate

      The value of fixed income investments (e.g. bonds) tends to decrease when interest rates rise.

      Liquidity

      There may be insufficient buyers or sellers of particular investments giving rise to delays in trading and being able to make settlements, and/or large fluctuations in value. This may lead to larger financial losses than might be anticipated.

      All information and opinions provided are of a general nature and are not intended to address the circumstances of any particular individual or entity. We are not acting and do not purport to act in any way as an adviser or in a fiduciary capacity. No one should act upon such information or opinion without appropriate professional advice after a thorough examination of a particular situation. We endeavour to provide accurate and timely information but we make no representation or warranty, express or implied, with respect to the correctness, accuracy or completeness of the information and opinions. We do not undertake to update, modify or amend the information on a frequent basis or to advise any person if such information subsequently becomes inaccurate. Any representation or opinion is provided for information purposes only. The prospectus of this fund may be acquired free of charge, from Ninety One Fund Managers Botswana (Pty) Ltd, Unit 5, Plot 64511, Fairgrounds, Gaborone, Botswana.

      The value of this investment may go down as well as up and the return on the investment will therefore necessarily be variable. Neither past experience nor the current situation are necessarily accurate guides to the future. Ninety One Fund Managers Botswana (Pty) Ltd is regulated by the Non-Bank Financial Institutions Regulatory Authority. The TER shows the percentage of the average Net Asset Value of the portfolio that was incurred as charges, levies and fees relating to the management of the portfolio. A higher TER ratio does not necessarily imply poor return, nor does a low TER imply a good return. The current TER cannot be regarded as an indication of the future TERs.

      Offshore funds are sub-funds in the Ninety One Global Strategy Fund, 49 Avenue J.F. Kennedy, L-1855 Luxembourg, Grand Duchy of Luxembourg.

      Performance data source: © Morningstar.
      BT unit trust: NAV to NAV net of fees with income reinvested.
      GSF funds: NAV based, (net of fees, excluding initial charges), total return, in the share class dealing currency. Performance would be lower had initial charges been included.

      For a full description of the Morningstar rating for funds, please see the attached guide. A rating is not a recommendation to buy, sell or hold a fund.

      The overall rating for a fund, often called the ‘star rating’, is a third party rating derived from a quantitative methodology that rates funds based on an enhanced Morningstar™ Risk-Adjusted Return measure. ‘Star ratings’ run from 1 star (lowest) to 5 stars (highest) and are reviewed at the end of every calendar month. The various funds are ranked by their Morningstar™ Risk-Adjusted Return scores and relevant stars are assigned. It is important to note that individual shareclasses of each fund are evaluated separately and their ratings may differ depending on the launch date, fees and expenses relevant to the shareclass. In order to achieve a rating the share class of a fund must have a minimum three-year performance track record.

      The portfolio may change significantly over a short period of time. This is not a buy or sell recommendation for any particular security. Figures may not always sum to 100 due to rounding. 

      For an explanation of statistical terms, please see our glossary.