GSF Lux SICAV

Emerging Markets Corporate Debt

Morningstar Rating™

3
8
EU SFDR
E
Enhanced Integration
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Objective

Investment objective summary

  • The Fund aims to provide income with the opportunity for capital growth (i.e. to grow value of your investment) over the long-term.
      • The Fund is actively managed and invests primarily in a diversified portfolio of debt securities (e.g. bonds) issued by Emerging Markets Corporate Borrowers and derivatives (financial contracts whose value is linked to the price of a debt security) which offer exposure to such debt securities. These securities may be Investment Grade and Non-Investment Grade, and of any duration.
      • 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.
      Victoria Harling
      Portfolio Manager
      Emerging Market Corporate Debt Team
      Portfolio Manager
      Alan Siow
      Portfolio Manager

      Performance & returns

      Literature

      Portfolio & Holdings

      Date as of 31/08/2024
      Cima Finance DAC 2.95 Sep 05 29
      1.7
      Genm Capital Labuan Ltd 3.882 Apr 19 31
      1.7
      Arabian Centres Sukuk II Ltd 5.625 Oct 07 26
      1.7
      Ecopetrol SA 7.375 Sep 18 43
      1.5
      Tengizchevroil Finance Co 4 Aug 15 26
      1.5
      Braskem America Finance Co 7.125 Jul 22 41
      1.4
      Greenko Power II Ltd 4.3 Dec 13 28
      1.3
      Suzano Austria GMBH 7 Mar 16 47
      1.3
      BRF SA 5.75 Sep 21 50
      1.2
      Minerva Luxembourg SA 4.375 Mar 18 31
      1.2

      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.

      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.

      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 Information Documents (KID), may be obtained from 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.

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