Objective

Investment objective summary

  • The Fund aims to provide a high level of income with the opportunity for capital growth (i.e. to grow value of your investment) over the long term, from a diversified portfolio of debt securities (e.g. bonds) issued by Latin American Borrowers. These securities may be denominated in Latin American local currencies as well as hard currencies (globally traded major currencies).
      • 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 borrowers. 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.
      Tomas Venezian
      Portfolio Manager
      Mr. Venezian is a Partner at Compass Group, Head of Corporate Debt, and Co-Portfolio Manager of...
      Luis Pardo
      Portfolio Manager
      Mr. Pardo is Co-Portfolio Manager LatAm Corporate Debt of the Mexico office. Previously, he was Peru...

      Performance & returns

      Key facts

      • Domicile

        Luxembourg
      • ISIN

        LU0492942551
      • Risk profile

        3
      • SEDOL

        B60BZ87
      • CUSIP

        L5447Q430
      • Bloomberg code

        INLACCI LX
      • Benchmark

        JPMorgan CEMBI Broad Diversified Latin America
      • Morningstar category sector

        Other Bond
      • Fund inception date

        30/04/2010
      • Share class inception date

        21/10/2010
      • Minimum investment

        USD3,000 / equivalent approved currency
      • Valuation point

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

        Article 8
      • Ninety One Sustainability Classification

        Enhanced Integration

      Literature

      Portfolio & Holdings

      Date as of 31/10/2023
      Index
      Fund
      AA
      A
      4.8
      BBB
      38.6
      BB
      36.9
      B
      10.7
      CCC
      8.4
      CC
      C
      0.4
      D
      Not Rated
      0.1
      Cash and near cash
      *Bond ratings are Ninety One approximations.

      Charges

      Maximum initial charge %

      3.00

      Ongoing charge %

      2.66
      The Fund may incur further expenses (not included in the above Ongoing charge) as permitted by the Prospectus.

      Specific fund risks

      Charges from capital

      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 is not intended to increase the overall level of risk. However, the use of derivatives may still lead to large changes in value and includes the potential for 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

      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.

      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.

      Distributions & Yields

      Most recent distribution payments
      Distribution amount
      USD0.0608
      Declaration Date
      30 November 2023
      Ex-distribution date
      01 December 2023
      Payable date
      20 December 2023
      Yield data as of 31/10/2023
      Yield %
      7.49
      Adjusted yield %
      4.83

      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.

      It is not an invitation to make an investment nor does it constitute an offer for sale. Any decision to invest in the Fund should be made after reviewing the full offering documentation, including the Prospectus, which sets out the fund specific risks. Fund prices and English language copies of the Prospectus, annual and semi-annual Report & Accounts, Articles of Incorporation and where relevant, the local language copies of the Key Investor Information Documents (KIID) and Key Information Documents (KID), may be obtained from www.ninetyone.com.

      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.

      PRIIPs Performance scenarios and Risk Profile SRI data source: Broadridge Ireland Limited.

      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.