GSF Lux SICAV

Asia Dynamic Bond

8
EU SFDR
E
Enhanced Integration

Latest NAV Price

15.9900
28 November 2022

NAV daily change %

0.13

Dealing currency

USD

Fund size

USD 39.27 M
31 October 2022

Latest NAV Price

15.9900
28 November 2022

NAV daily change %

0.13

Dealing currency

USD

Fund size

USD 39.27 M
31 October 2022

About the fund

By investing in the credit of some of the world-leading Asian companies, the Fund seeks to offer a higher yield than a portfolio of similarly high quality names based in developed markets.

Reasons to invest

  • Accesses the fast-growing Asia corporate credit asset class
  • Seeks to uncover fundamentally strong companies whose bonds are undervalued by the broader market
  • Asian corporate bonds provide scope for attractive yield and risk-adjusted return
  • High-conviction approach to investing across this diverse investment universe
  • The managers aim to harness multiple sources of return available from the asset class

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

      The value of investments, and any income generated from them, can fall as well as rise. If the currency shown differs from your home currency, returns may increase or decrease as a result of currency fluctuations. Investment objectives and performance targets may not necessarily be achieved, losses may be made. We recommend that you seek independent financial advice to ensure this Fund is suitable for your investment needs. Where a shareclass has been in existence for less than 12 months, performance is not disclosed. No representation is being made that any investment will or is likely to achieve profits or losses similar to those achieved in the past, or that significant losses will be avoided. The Trailing Returns chart may use different Sector performance start dates compared to other performance charts or other marketing literature which may result in minor differences. Where a benchmark index is calculated on a monthly basis, the returns will be out of line with the fund and/or sector which are calculated daily.

      Key facts

      • Domicile

        Luxembourg
      • ISIN

        LU2314821211
      • Risk profile

        3
      • SEDOL

        BN92TD3
      • CUSIP

        L6S44C824
      • Bloomberg code

        NIADBZA LX
      • Benchmark

        JP Morgan Asia Credit
      • Morningstar category sector

        Asia Bond
      • Fund inception date

        26/01/2021
      • Share class inception date

        26/03/2021
      • Minimum investment

        USD500,000,000 / 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 31/10/2022
      Index
      Fund
      AAA
      0.8
      AA
      9.9
      A
      33.2
      BBB
      42
      BB
      7
      B
      2.1
      CCC
      0.6
      CC
      0.1
      C
      0.1
      D
      0.2
      Not Rated
      4.1
      Cash and near cash
      *Bond ratings are Ninety One approximations.

      Charges

      Maximum initial charge %

      3.00

      Ongoing charge %

      0.47
      The Fund may incur further expenses (not included in the above Ongoing charge) as permitted by the Prospectus.

      Specific fund risks

      Charges from capital

      For Inc-2 and Inc-3 shares classes, expenses are charged to the capital account rather than to income, so capital will be reduced. This could constrain future capital and income growth. Income may be taxable.

      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.

      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.

      We recommend that you seek independent financial advice to ensure this Fund is suitable for your investment needs.

      All the information contained in this communication is believed to be reliable but may be inaccurate or incomplete. Any opinions stated are honestly held but are not guaranteed and should not be relied upon.

      This communication is provided for general information only. It is not an invitation to make an investment nor does it constitute an offer for sale. The full documentation that should be considered before making an investment, including the Prospectus and Key Investor Information Documents, which set out the Fund specific risks, are available from Ninety One. This Fund should be considered as a long-term investment.

      Performance data source: © Morningstar, 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 as an initial charge of up to 5% (10% for S shares) may be applied to your investment. This means that for an investment of $1,000, where the initial charge equals 5%, $950 ($900 for S shares) would actually be invested in the Fund. Returns to individual investors will vary in accordance with their personal tax status and tax domicile.

      Morningstar Analyst rating™: Copyright © 2022. Morningstar. All Rights Reserved. The information, data and opinions expressed and contained herein are proprietary to Morningstar and/or its content providers and are not intended to represent investment advice or recommendation to buy or sell any security; are not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this Rating, Rating Report or Information contained therein.

      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.

      For a full description of the ratings, please see our ratings guide. A rating is not a recommendation to buy, sell or hold a fund.

      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.